Bitcoin mining pool operator Foundry launches Zcash mining pool, accounting for nearly one-third of new production

Foundry launched a new mining pool for Zcash on April 13 to meet institutional demand for privacy coins, attracting multiple miners, with output accounting for nearly one-third of the total new Zcash on the network.

Zcash, based on zero-knowledge proof technology, is more favored by institutions, with prices rising over 75% in the past 30 days. According to Gate News, on April 13, Bitcoin mining pool operator Foundry officially launched a new mining pool for the privacy-focused cryptocurrency Zcash.

Foundry CEO Mike Colyer stated that this move aims to respond to the growing demand for privacy coins from large institutions. Currently, the pool has attracted several institutional miners, with output accounting for nearly one-third of the total new Zcash on the network.

Zcash, based on zero-knowledge proof technology, achieves transaction privacy while supporting selective disclosure to meet compliance requirements, making it more favored by institutions compared to another privacy coin, Monero. Following this news, Zcash's price has increased by over 75% in the past 30 days, with a current market cap of approximately $6.3 billion.

Foundry currently controls about 31% of the global Bitcoin hash rate, making it the largest Bitcoin mining pool operator in the world.