Fortitude Lines Up $100M Bitmain Zcash Miner Deal

Fortitude Mining Holdings has signed a letter of intent with BITMAIN to secure priority access to unreleased Zcash mining machines, carrying a non-binding purchase commitment that could reach $100 million, according to Blockonomi. The agreement obliges Fortitude to place a refundable $20 million deposit, equal to 20% of the proposed commitment, which the company said it plans to draw from its credit line this week.

News.bitcoin reported that final pricing and specifications remain pending, meaning the commitment is non-binding until a definitive purchase agreement is signed, and that shipments are expected to begin in the second quarter of 2027. Fortitude has not placed a completed $100 million order; the letter of intent grants priority access only.

Key facts

• Fortitude operates about 4.7 GSol/s of Equihash hashrate and controls more than 60 megawatts of contracted power across seven sites in South Dakota, Nebraska, Texas, and New York.
• DCG raised Fortitude’s credit facility from $50 million to $70 million, leaving roughly $42.7 million available to borrow, enough to cover the deposit.
• In July, Fortitude agreed to buy 9,000 Antminer Z15 Pro machines for $31.5 million, hardware that would add 7.56 GSol/s of capacity.
• News.bitcoin reported the company recently borrowed 5,790 ZEC, valued at about $8.4 million, and liquidated the position for approximately $8.3 million; after the planned $20 million draw, total borrowings under the facility would reach about $47.3 million.
• Fortitude is pursuing a business combination with Heartsciences, which trades on Nasdaq under the ticker HSCS.

A concentrated bet on Equihash

Fortitude was spun out of Foundry’s self-mining business by Digital Currency Group in January 2025 and has since built a venture-mining model with Zcash at its core. Most large public miners have concentrated on bitcoin, which makes a potential $100 million hardware commitment centred on a smaller proof-of-work network an unusual allocation for the sector, as News.bitcoin noted.

CEO Jaime Leverton said Fortitude’s vision is to be the largest vertically-integrated Zcash mining platform, and that early access to Bitmain’s upcoming hardware could help the company expand with more efficient equipment as it becomes available. A Bitmain executive described the agreement as an important milestone for the Zcash mining ecosystem, citing Fortitude’s power, infrastructure and operating footprint.

Blockonomi reported that Zcash traded above $1,370 on Tuesday, up 3.6% over 24 hours, and that Zcash grant approvals reached $8.39 million this month. DCG founder Barry Silbert has previously said Zcash could reach 5% to 10% of Bitcoin’s market value over time — a view Fortitude’s hardware plan follows, though the purchase commitment remains non-binding. Zcash investment products recorded weekly outflows after earlier demand, and Zcash gained new THORChain support after months of technical work.

Why it matters

The letter of intent ties together four pieces Fortitude has assembled separately: hardware access, contracted power, a larger DCG credit line, and a planned route to public markets through the Heartsciences combination. If the purchase converts into a definitive agreement, it would materially expand the Zcash network’s proof-of-work infrastructure at a time when most mining capital still flows to bitcoin. For readers tracking miners’ exposure to non-bitcoin assets, Fortitude is now the clearest test case.

What to watch

The near-term trigger is the $20 million draw on the DCG facility and whether Fortitude and Bitmain convert the non-binding letter of intent into a definitive purchase agreement, which would fix pricing and specifications. The second-quarter 2027 shipment window gives a timeline for judging whether the hardware actually lands.

This article is not financial advice. Cryptocurrency markets and mining economics are volatile and uncertain, and the figures above reflect reported terms rather than guaranteed outcomes.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: Blockonomi, News.bitcoin