Zcash Miner Fortitude to List on Nasdaq Through HeartSciences Merger

Fortitude, backed by Barry Silbert’s Digital Currency Group, was spun out of Foundry’s mining business in January 2025 and has made Zcash, or ZEC, the anchor of its vertically integrated proof-of-work strategy. Mining economics hinge heavily on electricity prices and machine efficiency, making ownership of low-cost power infrastructure central to the company’s effort to control production expenses and scale output as it prepares to enter public markets.

On July 28, Fortitude said its 12-megawatt Grand Island, Nebraska, facility had completed construction and electrical testing, lifting its self-owned power portfolio to more than 60 MW across seven sites. Power is expected to cost about $0.045 per kilowatt-hour, while next-generation miners could cut direct cash cost per ZEC by 43% to roughly $40 from $70. Fortitude and HeartSciences signed an all-stock merger agreement on June 23, targeting completion in the second half of 2026; the combined company is expected to trade on Nasdaq as “TUDE.”