Electric Coin Company / Wikimedia Commons (Public domain)
Fortitude raises credit facility to $50M to fuel Zcash mining expansion
The DCG subsidiary plans to buy 9,000 ASIC miners and push past 60 MW of capacity as it eyes a public listing under the ticker 'TUDE'
Fortitude Mining Holdings has upsized its credit facility from $26 million to $50 million, adding $24 million in fresh borrowing capacity to fund an aggressive push deeper into Zcash mining infrastructure. The announcement, made on September 23, 2026, marks the latest step in what has become one of the more quietly ambitious build-outs in the proof-of-work mining space.
The company, a subsidiary of Digital Currency Group, intends to put that capital to work fast. Roughly $31 million of the expanded facility remains undrawn and available, with Fortitude planning to pull it down in ZEC rather than dollars, a structurally interesting choice that ties its cost of capital directly to the asset it mines.
What $50 million buys in Zcash country
The headline use of proceeds is a purchase of 9,000 Bitmain Antminer Z15 Pro ASIC miners.
Beyond the machines themselves, the facility will also fund new data centers and power infrastructure. Fortitude has already crossed 60 megawatts of installed capacity across its U.S. sites. The company recently added 12 MW in Grand Island, Nebraska, and another 12.5 MW in Prosser, Nebraska.
Fortitude has set a target of roughly $40 per ZEC mined at an optimized power rate near $0.045 per kilowatt-hour. Owning the sites rather than leasing them is central to that math, reducing the operational variables that tend to bleed margins in volatile markets.
The news moving money, markets, and the world—before your day starts.
Daily. Free. Join 34,000+ readers across crypto, finance, and policy.
The original credit facility was put in place on June 1, 2026, carrying an 11% interest rate and a maturity date of June 2028. It is secured against acquired equipment and select real estate. The amendment not only raises the ceiling but also outlines the potential for additional ZEC-denominated draws through fiscal year 2027.
Going public through an unusual door
Fortitude has announced plans for a business combination with HeartSciences Inc., a Nasdaq-listed company trading under the ticker HSCS. If completed, the transaction would take Fortitude public under the new ticker symbol TUDE.
Why this matters for Zcash and the broader mining market
Zcash is a proof-of-work coin running on the Equihash algorithm that the Z15 Pro machines are built to mine.
Fortitude’s decision to draw its credit facility in ZEC rather than USD creates a natural hedge: if ZEC prices rise, the loan value in dollar terms increases, but so does the value of what the company is producing. If prices fall, the hedge works in reverse. The amendment also outlines the potential for additional ZEC funding through fiscal year 2027, suggesting the company views this as a rolling financing structure rather than a one-time raise.