Fortitude Mining Holdings acquired approximately 9.4% of Nasdaq-listed HeartSciences Inc. for $999,998.46 in an Aug. 12 private placement, providing operating cash before shareholder approval of their proposed all-stock merger. The purchase covered 411,522 shares at $2.43 each, a price HeartSciences said represented a 22% premium to its closing share price. Fortitude reported $20.9 million in second-quarter 2026 revenue, mined roughly 33,646 ZEC at an average hashrate of 4.0 GSol/s and generated $8.5 million in adjusted EBITDA. Its GAAP net loss widened to about $9.5 million from $4.6 million in the first quarter, including a $10.3 million impairment of mining equipment. The merger, announced July 23, targets closing in the second half of 2026. The equity placement does not change the exchange ratio or provide Fortitude’s existing equity holders with additional closing shares. HeartSciences’ preliminary proxy says Digital Currency Group would hold about 95% of the combined company’s voting interests, while existing HeartSciences equityholders would retain about 5% of voting and economic interests, subject to final capitalization and exchange-ratio mechanics. As of Aug. 20, the proxy lacked dates for the special meeting and record date and warned that a failed merger could leave HeartSciences pursuing another strategic transaction or liquidation.