Fortitude Mining launches Nebraska Zcash facility and plans Nasdaq backdoor merger

Fortitude Mining, a spin‑off of Digital Currency Group’s Foundry unit, has activated its first purpose‑built cryptocurrency mining facility in Grand Island, Nebraska. The greenfield plant operates at 48 MW and is part of the company’s operations across South Dakota, Nebraska, Texas and New York, with plans to expand to 80 MW by the end of 2026. Fortitude mines both Bitcoin and Zcash, with revenue of $90 million in 2025 and financial forecasts tied to the price of ZEC – projected adjusted EBITDA above $50 million at a $500 ZEC price and over $120 million if ZEC reaches $1,000.

Instead of a conventional IPO, Fortitude will merge with Nasdaq‑listed HeartSciences Inc. (ticker HSCS) in an all‑stock deal expected to close around 23 June 2026. The merger will give Digital Currency Group roughly 95% ownership of the combined entity, creating a rare publicly listed miner with significant exposure to privacy‑focused altcoins.

Zcash mining is highlighted for its lower power consumption compared to Bitcoin, with machines such as Bitmain’s Antminer Z15 Pro drawing about 2.8 kW per unit. The reduced competition and privacy features of ZEC have attracted miners, especially after a regulatory case closure in January 2026 boosted the coin’s price.