Fortitude Names Former Hut 8 CEO Leverton to Lead Zcash Miner Ahead of Listing
Fortitude Mining, the Zcash-focused subsidiary of Barry Silbert’s Digital Currency Group, has appointed former Hut 8 (NASDAQ: HUT) chief Jaime Leverton as chief executive officer as it prepares to go public through a merger with HeartSciences.
Leverton will take over on Sept. 21, succeeding Andrea Childs, who will become chief operating officer, according to a company statement on Thursday. Leverton will also lead the combined company if the transaction closes.
The appointment brings an executive with experience running a publicly traded cryptocurrency miner to Fortitude as it expands production and works toward a fourth-quarter closing. The combined company is expected to operate under the Fortitude name and trade on the Nasdaq Capital Market under the symbol TUDE, subject to Nasdaq approval.
The all-stock transaction, announced June 23, would combine Fortitude with HeartSciences, a Nasdaq-listed medical technology company developing artificial intelligence tools for electrocardiograms. At the deal’s announcement, DCG was expected to own about 95% of the combined company on a fully diluted basis. The healthcare business would continue operating under HeartSciences CEO Andrew Simpson.
Leverton previously led Hut 8 through its combination with US Bitcoin Corp. She was replaced by Asher Genoot in February 2024, when Hut 8’s board said the merged business needed a new strategic direction. Fortitude said she most recently led digital asset management company ReserveOne.
Childs will focus on mining operations, equipment and infrastructure strategy in her new role, according to the statement.
Fortitude was launched as a standalone DCG subsidiary in January 2025, spun out of Foundry’s self-mining division. Its strategy involves mining established and emerging proof-of-work cryptocurrencies, with Zcash now its principal focus.
The company said it mined 72,696 ZEC, the network’s native token, in the first six months of 2026, accounting for approximately 28% of network production over that period.
Fortitude reported second-quarter revenue of $20.9 million and a net loss of $9.5 million, including a $10.3 million impairment of mining equipment. Adjusted earnings before interest, taxes, depreciation and amortization were $8.5 million.
Its operations span seven sites in South Dakota, Nebraska, Texas and New York, with a power portfolio exceeding 60 megawatts. In July, Fortitude agreed to buy 9,000 Antminer Z15 Pro mining machines from Bitmain, with shipments expected in the fourth quarter.
