Foundry launches Zcash mining pool, capturing about 29% of Zcash network hashrate since March

Foundry Digital, operator of the world’s largest Bitcoin mining pool, officially launched its Foundry Zcash Pool on Monday, with multiple institutional mining customers already onboarded.

Launch and expansion beyond Bitcoin

Foundry said the pool has captured about 29% of the Zcash network’s hashrate since its March announcement, according to on-chain data. The move marks a rapid expansion into mining for a privacy-focused cryptocurrency beyond Bitcoin.

Foundry CEO Mike Colyer framed the launch as filling an infrastructure gap for Zcash, which saw a surge in value last year. In a statement, Colyer said: “The launch of Foundry Zcash Pool reflects years of building infrastructure that institutions trust and a responsibility we’re committed to living up to in the Zcash ecosystem.” He added that Zcash provides “verifiable financial privacy on a transparent blockchain.”

New Zcash block explorer

Alongside the mining pool, Foundry unveiled Zcashinfo.com, a new block explorer for Zcash. The site is designed to let users look up transactions and view ecosystem data, including mining pool statistics.

Zcash founder Zooko Wilcox, chief product officer of Shielded Labs, said the additions strengthen Zcash’s infrastructure. He commented that Foundry’s “institutional credibility and long-term commitment to Zcash” make “their mining pool and their Zcashinfo.com explorer… valuable additions to Zcash's infrastructure.”

Mining share and market context

Foundry USA Pool already commands around 29% of all Bitcoin production among mining pools, based on Hashrate Index data. The company’s Zcash pool has claimed a similar share on that chain, as Zcash continues to see renewed momentum.

Zcash price performance

Zcash (ZEC), launched in 2016 as a privacy-focused cryptocurrency built on zero-knowledge proof technology, spiked in value last fall. The coin rose from about $50 per coin to nearly $700 within a two-month window.

In recent months, ZEC fell alongside Bitcoin and other top assets, but has surged again. Over the last month, ZEC has jumped 73% to a recent price of $354, including a nearly 42% rise in the last seven days alone.

Traders’ outlook on short-term upside

Despite the rally, traders on Myriad—a prediction market platform operated byDecrypt’s parent company, Dastan—have turned bearish on ZEC’s short-term prospects. They currently assign a 23% chance that Zcash rises to $420 sometime in April, down from 63% odds on Friday.