Fortitude brings 12 MW Nebraska Zcash mining site online ahead of HeartSciences merger
The Grand Island, Nebraska facility is Fortitude’s first self-developed site and is expected to cut Zcash mining costs as the company seeks public-market access through a merger with HeartSciences.
Fortitude has brought a 12-megawatt Zcash mining facility online in Grand Island, Nebraska, marking its first self-developed site and pushing its owned power capacity above 60 megawatts across seven locations in five states. The Digital Currency Group-owned miner said the project has completed construction and electrical testing and is ready for commercial mining operations. Fortitude expects the site to reduce its direct cash cost of mining ZEC to about $40 per coin from roughly $70 per coin, assuming stable electricity, network and market conditions after full equipment deployment. The launch comes as Fortitude pursues a merger with Nasdaq-listed HeartSciences aimed at giving it access to public equity markets and additional capital for mining and power infrastructure expansion.
- interruptible load: Electricity demand that can be reduced when the grid is under strain, helping balance supply and demand.
- demand response programs: Arrangements that pay or reward power users for cutting consumption during peak-demand periods.
- proof-of-work: A consensus system in which miners use computing power to validate transactions and secure a network.