Fortitude Mining switched on its first fully built-from-scratch facility in Grand Island, Nebraska, marking a key step in its push for growth. This greenfield site adds to the company's existing 48 megawatts spread over six locations and sets the stage to nearly double capacity to 80 MW by year-end 2026.
The Nebraska facility operates under a lease starting at $18,000 annually with modest escalations, representing a fresh approach compared to refurbishing old data centers. Fortitude’s reach now spans four states including South Dakota, Texas, and New York.
Nasdaq Listing Plans Take Shape
Instead of a traditional IPO, Fortitude is merging with Nasdaq-listed HeartSciences Inc., ticker HSCS, in an all-stock deal expected to close by June 23, 2026. Post-merger, Digital Currency Group, Fortitude’s parent, would hold an overwhelming 95% ownership of the combined company.
Fortitude posted $90 million in revenue last year, with financial forecasts tightly linked to the price of Zcash’s native token, ZEC. At $500 per coin, adjusted EBITDA could top $50 million, and if ZEC hits $1,000, profits might soar beyond $120 million. The company also mines Bitcoin, positioning itself uniquely among mostly Bitcoin-focused public miners like Marathon Digital and Riot Platforms.
By controlling multiple key parts of its mining operations, Fortitude follows a vertically integrated Proof of Work model. The plan hinges on Zcash’s market outlook, which remains smaller and more volatile compared to Bitcoin. Still, the company’s aggressive expansion and upcoming public listing make it one to watch in the altcoin mining space.
This material is for informational purposes only and does not constitute financial advice.
