The Winklevoss twins just filed for a Zcash ETF with a $100 million pledge, but the deal reveals a web of intertwined companies where Gemini stands to profit whether or not ZEC moves a single dollar.
Cypherpunk Technologies' financial profile suggests a struggling core business with no consistent revenue, evidenced by only $234K reported in 2024Q4 and volatile net income such as a $39.4M profit in 2026Q2 that appears driven by non-operating factors.
Price trend, volume and key moving averages
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 12, 2026 | $0.18+700.0% vs -$0.03 | — vs — |
Q2 2026 May 14, 2026 | -$0.46-1033.0% vs -$0.04 | — vs — |
Q2 2026 Mar 16, 2026 | -$0.23-246.4% vs -$0.07 | — vs — |
Q4 2025 Nov 12, 2025 | -$0.08+66.7% vs -$0.24 | $209,000 vs — |
The Winklevoss twins just filed for a Zcash ETF with a $100 million pledge, but the deal reveals a web of intertwined companies where Gemini stands to profit whether or not ZEC moves a single dollar.
Veteran mining executive brings operational depth from Nakamoto, TeraWulf, Galaxy, and Fidelity as Cypherpunk launches 4.2 GSol/s Zcash mining fleet Cypherpunk Mining generated 3,023.13 ZEC in first weeks of operation; Added to Treasury CAMBRIDGE, Mass., Sept. 22, 2026 /PRNewswire/ -- Cypherpunk Technologies Inc. (Nasdaq: CYPH) ("Cypherpunk"), a privacy technology company, today announced the appointment of Amanda Fabiano to its Board of Directors.
Cypherpunk Technologies Inc. now holds a significant ZEC treasury and has acquired a major Zcash mining operation, boosting its asset value. Recent ZEC price surges and the launch of the Zcash ETF have driven CYPH's valuation, but the stock's rapid rise has consumed much of its immediate upside. CYPH's fully diluted share count and complex capital structure mean headline market cap underestimates the price investors are paying for exposure.

Equity-based transaction with Winklevoss Capital activates 4.2 GSol/s of live, U.S.-based hashrate; approximately 18% of the Zcash network; Industry veteran Kevin Zhang joins as Head of Mining CAMBRIDGE, Mass., Aug. 18, 2026 /PRNewswire/ -- Cypherpunk Technologies Inc. (Nasdaq: CYPH) ("Cypherpunk") today announced the launch of Cypherpunk Mining, which is now the largest Zcash mining fleet in the world, through a $33.33 million equity-based transaction with Winklevoss Capital.
Benchmark CYPH against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Cypherpunk Technologies Inc. (CYPH)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $2.88 | $306.62M | -576.00 | — | — | -0.57% | — | |
| $128.93 | $42.65B | -4.04 | 2.97% | -2760.34% | -25.97% | 1.01% | |
| $0.73 | $256.77M | -0.88 | -32.54% | -5.61% | -38.19% | 0.04% | |
| $134.76 | $35.5B | -55.31 | 9.45% | -12.66% | -5.08% | — | |
| $80.91 | $72.74B | 37.15 | 52.82% | 39.34% | 20.64% | — | |
| $23.98 | $1.42B | -8.30 | 15.42% | -78.96% | -44.67% | 1.97% |
Cypherpunk Technologies Inc. (CYPH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Cypherpunk Technologies Inc. (CYPH) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 18, 2026·SEC
Aug 12, 2026·SEC
Jul 21, 2026·SEC
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Cypherpunk Technologies Inc. (CYPH) stock FAQ — growth, dividends, profitability & financials explained
Cypherpunk Technologies Inc. (CYPH) revenue fell by 100.0% over the trailing twelve months, compared with the twelve months before.
No. Cypherpunk Technologies Inc. (CYPH) reported a net loss of $0.9M over the trailing twelve months.
Cypherpunk Technologies Inc. (CYPH) had a return on equity (ROE) of -0.6% over the trailing twelve months. A negative ROE means the company lost money over the period.
Cypherpunk Technologies Inc. (CYPH) had negative free cash flow of $27.0M over the trailing twelve months.