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VADODARA, April 13, 2026. The following report is based on currently available verified source material and market data.
On April 13, 2026, Foundry Digital, the largest Bitcoin mining pool by hashrate, launched a Zcash (ZEC) mining pool that quickly captured about 30% of the network's total hashrate, alongside unveiling Zcashinfo.com, a real-time block explorer. This development signals rising institutional interest in compliant Zcash mining infrastructure and occurs amid a broader crypto market sentiment of "Extreme Fear" (Score: 12/100), with Bitcoin trading at $71,789, up 1.26% in 24 hours. The move highlights a strategic expansion by a major player into privacy-focused proof-of-work networks, potentially reshaping Zcash's mining and institutional adoption trajectory.
The core metrics from this announcement center on hashrate dominance and market context. Foundry's Zcash pool has reached approximately 30% of the network's total hashrate, according to company data. This significant share was achieved rapidly following an initial announcement in March, with multiple institutional miners joining ahead of the public debut. The launch coincides with a crypto market environment characterized by extreme fear, as measured by the Fear & Greed Index, and Bitcoin's price movement of $71,789, reflecting a 1.26% increase over 24 hours. Other notable metrics from the broader data pack include a $120 million XRP whale transaction to Coinbase and a $1 billion Bitcoin purchase through STRC, though these are not directly tied to the Zcash event. Source: public statement for hashrate data; Source: CoinGecko for Bitcoin price and sentiment.
| Metric | Value | Source |
|---|---|---|
| Zcash Pool Hashrate Share | 30% | Public statement |
| Bitcoin Price | $71,789 | CoinGecko |
| Bitcoin 24h Change | 1.26% | CoinGecko |
| Global Crypto Sentiment | Extreme Fear (12/100) | CoinGecko |
This event matters for four key reasons. First, why now? The timing aligns with a market in "Extreme Fear," where institutional players like Foundry may see opportunities to expand into undervalued or niche segments like privacy coins, leveraging their existing infrastructure. Second, who benefits? Institutional miners gain access to compliant, regulated mining infrastructure with transparent reward distribution, while Zcash benefits from increased network security and legitimacy. Retail miners may face heightened competition, and the broader crypto ecosystem sees a validation of proof-of-work models beyond Bitcoin. Third, time horizons: In the short-term (days/weeks), this could stabilize Zcash's hashrate and attract more institutional interest; long-term (months/years), it may drive Zcash adoption in regulated environments and influence mining centralization debates. Fourth, causal chain: Foundry's entry → institutional miners join pool → hashrate concentration increases to 30% → network security improves → price discovery may become more stable → retail and institutional confidence grows.
The underlying mechanism involves mining pool dynamics and institutional onboarding. Zcash, like Bitcoin, uses proof-of-work mining with the Equihash algorithm, requiring large memory and specialized machines. Miners often pool resources to combine computing power and share rewards, as individual odds of solving blocks are low. Foundry's pool uses a pay-per-last-N-shares (PPLNS) model, which tracks miner contributions over time to calculate payouts, and distributes rewards through transparent addresses. This structure centralizes hashrate, making large pools critical for network performance. The pool's rapid growth to 30% hashrate indicates strong institutional uptake, likely driven by Foundry's reputation and compliance focus, which reduces regulatory risk for participants. Consequently, this concentration can enhance network security but also raises centralization concerns if not balanced by decentralization efforts.
This development fits into broader trends in crypto mining and institutional adoption. Compared to Bitcoin, where Foundry already dominates hashrate, the Zcash expansion shows diversification into privacy-focused assets. In contrast, other networks like Ethereum have shifted to proof-of-stake, reducing mining relevance. The move also aligns with increasing institutional interest in compliant infrastructure, similar to recent regulatory approvals like ClearBank securing MiCA approval for stablecoins. Key adjacent developments include:
Despite the bullish narrative, several risks and uncertainties warrant consideration. The bearish scenario could unfold if regulatory crackdowns on privacy coins intensify, undermining Zcash's compliance appeal. Additionally, over-centralization of hashrate in one pool poses security risks, such as potential 51% attacks if control exceeds 50%, though 30% is below this threshold. Uncertainty exists around the long-term sustainability of institutional interest, especially if market sentiment remains in "Extreme Fear" and impacts investment flows. Key risks include:
Looking ahead, practical near-term implications include potential increases in Zcash's network security and mining difficulty as the pool stabilizes. Institutional miners may drive demand for ZEC tokens, influencing price dynamics. The block explorer, Zcashinfo.com, could enhance transparency and attract more participants by providing real-time data. In the longer term, this move might encourage other mining pools to expand into privacy coins, fostering competition and innovation in compliant mining infrastructure. However, success hinges on maintaining regulatory compliance and balancing centralization risks.
Zcash, launched in 2016, is a privacy-focused cryptocurrency that uses zero-knowledge proof technology (zk-SNARKs) to enable transactions on a public blockchain while keeping sender, receiver, and amount details private. It operates on a proof-of-work consensus mechanism with an Equihash algorithm, capping supply at 21 million coins like Bitcoin, but with faster block times of approximately 75 seconds. Foundry Digital, based in New York, is the largest Bitcoin mining pool by hashrate, known for its institutional focus and compliance standards. This background frames the event as a strategic entry by a major player into a niche but technologically significant segment of the crypto market.
Cross-market reactions and related trends provide context for this event. The crypto market's extreme fear sentiment, as indicated by a score of 12/100, contrasts with Foundry's aggressive expansion, suggesting institutional players may be capitalizing on market downturns. Other notable developments include ClearBank securing MiCA approval for stablecoins, which parallels the push for regulatory compliance in crypto services. Additionally, large transactions like a $120 million XRP move to Coinbase and a $1 billion Bitcoin purchase highlight ongoing institutional activity, though not directly linked to Zcash. These elements underscore a broader trend of institutionalization amid market volatility.
Foundry's launch of a Zcash mining pool with 30% hashrate and a new block explorer marks a significant step in institutional adoption of privacy-focused cryptocurrencies. By leveraging compliant infrastructure and transparent systems, this move enhances Zcash's network security and legitimacy. However, risks around regulation and centralization require careful monitoring. The development reflects a strategic expansion in a fearful market, potentially setting a precedent for other mining pools and privacy coins.
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Evidence & Sources
Primary source: https://www.coindesk.com/business/2026/04/13/foundry-unveils-zcash-block-explorer-as-mining-pool-reaches-30-of-hashrate
Updated at: Apr 13, 2026, 06:47 PM
Data window: Apr 13, 2026, 03:00 PM → Apr 13, 2026, 06:11 PM
Evidence stats: 8 metrics, 2 timeline points.
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