Foundry’s Zcash Pool Captures 29% of Hashrate in First Month

Foundry Digital, a leading crypto mining pool operator, has launched a dedicated Zcash mining pool aimed at institutional participants. The company says the new pool now accounts for about 29.2% of the Zcash network hashrate, built through partnerships with multiple institutional miners. Foundry did not disclose the specific miners behind the capacity, stating only that a broad base of institutional clients is participating.

As part of the roll-out, Foundry also launched a Zcash block explorer, which shows the Foundry Zcash Pool has mined 2,344 blocks since its launch earlier this month. Zcash blocks are produced roughly every 75 seconds, with a block reward of 1.25 ZEC, which translates to about $458 at prevailing prices. According to Zcashinfo.com, the pool began accumulating hashrate around March 4—roughly a week before the public unveiling.

Foundry’s asserted hashrate share arrives after the pool operator’s rapid ascent reshaped the Zcash mining terrain. The shift has coincided with a notable decline in ViaBTC’s dominance, which had previously controlled a large slice of the network. Zcashinfo.com data indicate ViaBTC’s share has fallen from 68.1% on Feb. 27 to about 37% at the time of writing, underscoring how institutional players are reconfiguring the network’s mining distribution. In context, Coinbase’s security PSA from September 2023 singled out ViaBTC’s dominant position as a risk factor for network security, highlighting ongoing concerns about concentration in PoW ecosystems.

Key takeaways

• Foundry launches a dedicated Zcash pool and claims it now controls about 29.2% of the network hashrate, built through multiple institutional partnerships; the pool’s operators have not disclosed the participating miners.
• The pool has mined 2,344 blocks since launch, with Zcash block times around 75 seconds and a block subsidy of 1.25 ZEC (roughly $458 at current prices).
• Foundry’s rise appears to be shifting Zcash’s mining leadership away from ViaBTC, whose share has dropped toward 37% from well over 68% earlier in the year, according to Zcashinfo.com.
• Context on market dynamics and security: Coinbase flagged ViaBTC’s dominance as a risk in 2023, illustrating broader concerns about centralization in PoW networks.

Assessing the impact on Zcash’s network and the broader mining ecosystem

The emergence of a substantial institutional Zcash pool marks a notable development for a privacy-focused PoW network that has historically seen concentration around a handful of operators. Foundry’s approach—positioned as a compliant, purpose-built mining solution for institutions—reflects a growing demand among professional miners seeking predictable governance and operational resilience in a privacy-oriented blockchain environment. In practical terms, this shift can influence network security dynamics, fee structures, and block production consistency, particularly if more institutional actors join or reallocate capacity to Zcash over time.

From a market perspective, Zcash has enjoyed a period of outperformance versus many peers, with a marked price rally over the past year. Data from CoinGecko show ZEC’s market capitalization hovering around the multi-billion-dollar range, and the asset has been among the better performers within the broader crypto space over the last year, including a pronounced uptick in the month following Foundry’s initial Zcash Pool announcement. The current macro context—coupled with rising attention to privacy-focused assets—helps explain why institutions might view Zcash as a credible, long-horizon exposure despite broader market headwinds.

Industry observers will be watching whether additional institutional operators follow Foundry’s lead and join the Zcash mining scene, and how the distribution of hashrate evolves in the near term. A more diversified pool ecosystem could reduce single-point failure risk but may also complicate governance and monitoring for network security. As with other PoW networks, centralized concentration remains a perennial concern; how this balance shifts in practice will influence miners’ decision-making, hardware deployment, and the perceived resilience of Zcash’s privacy guarantees.

For readers seeking more granular data, Foundry’s Zcash Pool is documented in the press release and related materials, including coverage of the pool launch. The company’s own disclosures align with broader reporting on mining pool dynamics and the ongoing discussions around centralization risk in proof-of-work networks.

To follow the latest developments in Zcash mining and market activity, keep an eye on pool-hashrate distributions, block explorer metrics, and commentary from major industry players as institutional participation in privacy-focused networks continues to evolve.

What happens next may hinge on whether additional institutional clients enroll with Foundry or pursue similar deployments with other privacy-centric projects. As Zcash and other PoW networks navigate security concerns and decentralization trade-offs, readers should watch for updates on hashrate concentration, regulatory considerations, and any new tooling or audits that accompany institutional mining ventures.

Sources and context: Foundry’s pursuit of an institutional-grade Zcash pool was announced in collaboration with industry coverage and corroborating data from Zcashinfo.com, which tracks pool distribution, as well as contemporaneous reporting on ViaBTC’s historical dominance and Coinbase’s security notes. Public references to Zcash block economics and market position can be explored via CoinGecko’s Zcash page and related market data.