Fortitude Plans $100M Purchase of Bitmain’s Next-Generation Zcash Miners
Fortitude Mining has signed a non-binding agreement to buy up to $100 million of next-generation Zcash mining equipment from Bitmain, while parent Digital Currency Group increased its credit facility to $70 million.
Fortitude's Monday announcement indicates that Bitmain is developing a new generation of Zcash mining equipment that has yet to be commercially released. Fortitude said shipments are expected to begin in the second quarter of 2027, though final specifications and pricing remain pending. Its letter of intent provides priority supply access, with a binding purchase agreement still to be negotiated.
Fortitude plans to borrow $20 million in ZEC from DCG during the week of Oct. 5 and sell the tokens to pay a refundable deposit. The draw would leave $22.7 million available under the expanded facility, previously capped at $50 million. The company also disclosed selling about 5,790 ZEC received through an earlier draw for approximately $8.3 million.
The financing builds on an earlier increase from $26 million to $50 million. That amendment allowed DCG to advance ZEC instead of cash, while keeping the loans denominated and repayable in US dollars. The structure converts the parent’s cryptocurrency holdings into spending money for equipment and infrastructure without eliminating Fortitude’s dollar repayment obligation.
The proposed purchase follows a separate, binding order for 9,000 Bitmain Antminer Z15 Pro machines costing approximately $31.5 million. That contract scheduled 3,000 units for shipment in October and 6,000 in November. Fortitude previously reported mining 72,696 ZEC in the first half of 2026, equivalent to about 28% of network production over that period.
Zcash miners use specialized computers to secure transactions and earn newly issued tokens. Returns depend on token prices, electricity costs and competition from other miners, making the cost and efficiency of new hardware central to expansion economics.
Fortitude remains wholly owned by DCG and is pursuing a public listing through a proposed merger with Nasdaq-listed medical technology company HeartSciences. Under the transaction announced June 23, DCG was expected to own approximately 95% of the combined company on a fully diluted basis. Closing remains subject to conditions including shareholder approval.
