- Fortitude Mining signed a letter of intent with BITMAIN for priority access to its next-generation Zcash mining equipment, with a non-binding commitment of up to $100 million.
- The company currently operates around 4.7 GSol/s of Equihash hashrate and previously ordered 9,000 BITMAIN Antminer Z15 Pro machines for approximately $31.5 million.
- Fortitude increased its credit facility with Digital Currency Group from $50 million to $70 million, with DCG expected to fund a required $20 million refundable deposit in ZEC.
Fortitude Mining Holdings is preparing for another major expansion of its Zcash mining operation after securing priority access to BITMAIN’s next generation of mining equipment.
The company signed a letter of intent that includes a non-binding commitment to purchase up to $100 million worth of the unreleased equipment.
“Securing a priority supply allocation for BITMAIN’s next-generation equipment, alongside our existing operating base and previously announced Z15 Pro order, positions Fortitude to expand its fleet with industry-leading hardware as it becomes available,” CEO Jaime Leverton said.
Fortitude was spun out of Digital Currency Group’s Foundry self-mining operation in January 2025 and has since shifted toward a broader mining strategy centered on Zcash.
Fortitude Expands Zcash Mining Capacity
Fortitude currently operates approximately 4.7 GSol/s of Equihash hashrate and has more than 60 MW of contracted power capacity.
Its mining operations are spread across seven sites in South Dakota, Nebraska, Texas and New York.
The latest agreement builds on Fortitude’s existing expansion plans.
In July, the company agreed to purchase 9,000 BITMAIN Antminer Z15 Pro machines for approximately $31.5 million.
Those machines are expected to add another 7.56 GSol/s of mining capacity to the company’s operations.
DCG Credit Facility Increases to $70 Million
Fortitude has also increased its credit facility with parent company Digital Currency Group from $50 million to $70 million.
The company said approximately $42.7 million of borrowing capacity remains available under the facility.
Under the BITMAIN letter of intent, Fortitude must provide a refundable deposit equal to 20% of its potential $100 million commitment.
That would require a $20 million deposit.
Fortitude plans to draw the amount from its credit facility, with DCG expected to fund the borrowing in ZEC.
Zcash Trades Above $1,370
The expansion comes as Zcash continues to trade at elevated levels.
ZEC was trading above $1,370 on Tuesday, gaining approximately 3.6% over the previous 24 hours.
Fortitude and its parent company have maintained a bullish outlook on the privacy-focused cryptocurrency.
DCG founder Barry Silbert previously argued that Zcash could eventually reach between 5% and 10% of Bitcoin’s market capitalization.
Fortitude’s latest BITMAIN agreement could significantly increase its exposure to Zcash mining if the company ultimately moves forward with the full $100 million equipment commitment.
