# Cypherpunk’s $46M Zcash Markup Turns a $4.7M Operating Loss Into $39.4M of Net Income

Remove a single accounting entry and Cypherpunk Technologies would be reporting a rough quarter. Leave it in place and the company shows $39.4 million in net income. The entry in question is a $46 million unrealized gain on the firm's Zcash treasury. Strip it away and the Zcash treasury company, whi

| Fact | Value |
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| Published | 13 August 2026 |

Source: https://egamers.io/cypherpunks-46m-zcash-markup-turns-a-4-7m-operating-loss-into-39-4m-of-net-income/