HeartSciences Files Proxy for Fortitude Mining Merger, Reveals New Facility and $50M+ EBITDA Potential
HSCS sits 32% above its 52-week low of $1.63.
Summary
HeartSciences filed its preliminary proxy for the all-stock merger with Fortitude Mining Holdings, a major step toward closing. The filing includes new details: Fortitude energized a Grand Island, Nebraska facility, expanding its power portfolio to over 60MW, and estimates run-rate adjusted EBITDA above $50 million at Zcash prices over $500. The company also reported fiscal 2026 financial results and a business update, including full commercial launch of its MyoVista Insights platform and FDA submission for its wavECG device. This follows the July 27 filing of audited Fortitude financials and pro forma details. The merger would transform the micro-cap healthcare IT company into a significant Zcash miner, with existing shareholders retaining only a small stake. The new facility and cost trajectory toward $40 per coin strengthen the deal's value proposition.
At the time of this announcement, HSCS was trading at $2.15 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $8.8M. The 52-week trading range was $1.63 to $3.93. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.