Fortitude Buys $1M of HeartSciences Stock at 22% Premium, Reports Strong Q2 Mining Results
HSCS sits 55% above its 52-week low of $1.63 on light trading volume (0.1× avg).
Summary
Fortitude Mining invested $1M in HeartSciences at a 22% premium and reported strong Q2 results, strengthening HeartSciences' balance sheet ahead of their planned merger.
Key Events · Financing and Capital Events · HSCS
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Fortitude Invests $1M at Premium
Fortitude purchased 411,522 shares of HeartSciences common stock at $2.43 per share, a 22% premium to the August 12 closing price, for approximately $1,000,000.
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Fortitude Reports Strong Q2 Results
Fortitude reported Q2 2026 revenue of $20.9 million and Adjusted EBITDA of $8.5 million, with approximately 33,646 ZEC mined at an average hash rate of 4.0 GSol/s.
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Fortitude Now Owns 9.4% of HeartSciences
Following the subscription, Fortitude owns approximately 9.4% of HeartSciences' issued and outstanding common stock.
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Merger Expected to Close in H2 2026
The proposed business combination between HeartSciences and Fortitude is expected to close in the second half of 2026, subject to shareholder approval.
Analysis · HSCS · Crypto Assets
Fortitude Mining, the company HeartSciences is merging with, purchased $1 million of HeartSciences stock at $2.43 per share — a 22% premium to the market price on August 12. This is a direct cash infusion into HeartSciences, which has a going concern warning and only $0.2 million in stockholders' equity. The investment supports operating expenses until the merger closes and signals Fortitude's commitment to the deal. Fortitude also reported strong Q2 results: $20.9 million revenue and $8.5 million Adjusted EBITDA, with 33,646 ZEC mined. The premium purchase and solid financials reduce near-term bankruptcy risk for HeartSciences and increase confidence the merger will close.
At the time of this filing, HSCS was trading at $2.52 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $9.9M. The 52-week trading range was $1.63 to $3.93. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.