TLDR Fortitude signed an LOI for priority access to BITMAIN’s next-generation Zcash mining equipment. The non-binding purchase commitment could reach $100 million if Fortitude proceeds with t
Fortitude Mining Holdings has signed a letter of intent with BITMAIN to secure priority access to unreleased Zcash mining machines. The agreement includes a non-binding commitment to buy up to $100 million of the next-generation equipment.
The deal extends Fortitude’s push into Zcash mining after the company expanded its Equihash fleet and power footprint. Management said early access could help the company add new hardware as BITMAIN brings it to market.
Fortitude operates about 4.7 GSol/s of Equihash hashrate. The company controls more than 60 megawatts of contracted power across seven sites in South Dakota, Nebraska, Texas, and New York.
In July, Fortitude agreed to purchase 9,000 Antminer Z15 Pro machines for $31.5 million. Those units would add 7.56 GSol/s of capacity. The plan comes as Zcash gained new THORChain support after months of technical work.
The letter of intent requires Fortitude to place a refundable $20 million deposit, equal to 20% of the commitment. The company plans to draw that amount from its credit line this week.
Fortitude raised its credit facility with parent Digital Currency Group to $70 million from $50 million. It still has about $42.7 million available to borrow, giving the company funding room for the deposit.
Digital Currency Group spun Fortitude out of Foundry’s self-mining business in January 2025. Since then, Fortitude has developed a venture-mining model with Zcash at its core, while Zcash grant approvals reached $8.39 million this month.
The company has kept adding Zcash mining capacity while ZEC prices have risen sharply. Zcash traded above $1,370 on Tuesday, gaining 3.6% over 24 hours, while Fortitude prepared for another possible future hardware purchase.
DCG founder Barry Silbert has previously said Zcash could reach 5% to 10% of Bitcoin’s market value over time. Fortitude’s hardware plan follows that group view, although the purchase commitment remains non-binding.
The move also comes as Zcash investment products recorded weekly outflows after earlier demand. Fortitude’s planned equipment purchase would depend on final terms, equipment availability, and the company’s decision to proceed. For now, the agreement gives Fortitude priority access rather than a completed $100 million order.
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