Fortitude raises DCG credit facility to $50 million for ZEC mining expansion

  • Fortitude increased its DCG credit facility to fund Zcash mining expansion.
  • $31 million remains undrawn from the expanded $50 million facility.
  • Fortitude plans 9,000 Bitmain machines and additional U.S. data-center capacity.

Fortitude Mining Holdings, a Digital Currency Group subsidiary, has increased its credit facility from $26 million to $50 million, adding $24 million in borrowing capacity for Zcash mining expansion. About $31 million remains undrawn, and the company plans to draw that amount in ZEC rather than dollars, then sell the tokens to fund equipment and infrastructure. The financing will support the purchase of 9,000 Bitmain Antminer Z15 Pro machines, new data centers and power projects. Fortitude has more than 60 megawatts of installed U.S. capacity, including recent additions in Grand Island and Prosser, Nebraska. The facility carries an 11% interest rate, matures in June 2028 and is secured by acquired equipment and selected real estate. Fortitude has also announced a proposed business combination with Nasdaq-listed HeartSciences Inc. that would take the mining company public under the ticker TUDE if completed.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.