Fortitude Energizes 12 MW Nebraska Facility, Targets $40/Zcash Mining Cost Ahead of HeartSciences Merger

summarizeSummary

Fortitude Mining energized a 12 MW facility in Nebraska, expanding owned power to over 60 MW and targeting a Zcash mining cost reduction to ~$40/coin. The update, disclosed in merger proxy materials, also includes plans to reach 80 MW of Zcash capacity and reinforces strong mining margins ahead of the HeartSciences combination.

check_boxKey Events · M&A and Partnerships · HSCS

• Grand Island Facility Energized

  Fortitude completed construction and energized its 12 MW greenfield data center in Grand Island, Nebraska, expanding its owned-and-operated power portfolio to over 60 MW across seven sites.

• Zcash Mining Cost Reduction Target

  With power costs of ~$0.045/kWh at the new facility, Fortitude expects to lower its Zcash direct cash mining cost from approximately $70 per coin toward $40 per coin, assuming successful equipment deployment and stable conditions.

• 80 MW Zcash Capacity Expansion Plan

  CFO Erik Ellingson stated at the Energy Investors Forum that Fortitude aims to reach 80 MW of Zcash mining capacity, up from current levels, and noted the business currently generates 80%+ EBITDA margins.

• Merger Proxy Context

  The updates were filed as definitive additional proxy materials (DEFA14A) for the pending all-stock merger with HeartSciences, providing shareholders with new operational data on the target company.

auto_awesomeAnalysis · HSCS · Industrial Applications And Services

Fortitude Mining, which is merging with HeartSciences, brought online its first greenfield data center in Grand Island, Nebraska — a 12 MW facility that expands its owned power portfolio to over 60 MW. The company expects this site, with power costs around $0.045/kWh, to help drive its Zcash mining cost from roughly $70 per coin toward $40 per coin. At the Energy Investors Forum, CFO Erik Ellingson also disclosed plans to scale Zcash mining capacity to 80 MW and highlighted 80%+ EBITDA margins in that business. These operational milestones and forward targets add tangible substance to the merger narrative, directly addressing the combined company's post-deal economics and growth trajectory.