TORONTO — Cypherpunk Holdings Inc. (CSE: HODL, OTC Pink: KHRIF), a publicly traded investor in cryptocurrency, privacy, and cryptography companies, announced an agreement with MineOn LLC, operating as MiningStore, to move part of its strategy from buying Bitcoin to mining it.
The Agreement
Signed October 18, 2021, the deal had Cypherpunk purchase 25 Bitmain Antminer S19j Pro miners — 100 TH/s each — for US$300,000, and lease the fleet to MiningStore for hosting and operation at its Iowa facilities under a managed-mining, profit-sharing arrangement. Cypherpunk owns the hardware; MiningStore powers it, runs it, and shares the output.
“Our focus of investing in cryptocurrency has now broadened to include mining.”
Tony Guoga, CEO, Cypherpunk Holdings
For Cypherpunk, the release framed the move as diversification: becoming a supplier of Bitcoin rather than only a buyer, while continuing to accumulate the asset. For MiningStore, it was an early example of the structure that became the Managed Mining Program — a public company deploying capital into miners it owns, hosted and operated by MiningStore in Iowa.
By the Numbers
- 25 × Bitmain Antminer S19j Pro, 100 TH/s each (2.5 PH/s total)
- US$300,000 hardware purchase, funded by Cypherpunk
- Hosted and operated by MiningStore in Iowa on a profit-sharing basis
- Agreement signed October 18, 2021; announced October 21, 2021
Read the release: “Cypherpunk Announces Agreement with MiningStore” — Newsfile, October 21, 2021. MiningStore’s market note from that week: Cypherpunk Holdings Enters Agreement With MiningStore.