Fortitude Signs BITMAIN Letter of Intent for Up to $100 Million in Next Gen Zcash Miners

Fortitude Mining Holdings has agreed a letter of intent with BITMAIN Technologies that gives it first in line access to the manufacturer’s upcoming Zcash miners. The company also made a non-binding pledge to buy as much as $100 million of the unreleased hardware. CEO Jaime Leverton said the priority supply, combined with Fortitude’s current operations and its earlier Z15 Pro order, will help it grow its fleet as new machines arrive. The LOI calls for a refundable deposit of 20% of the commitment, or $20 million. Fortitude plans to draw that money this week, and DCG is expected to fund the loan in ZEC.

Fortitude’s Hashrate, Power and Credit Facility

Spun out of DCG’s Foundry self-mining unit in January 2025, Fortitude has since turned toward a venture-mining platform built around Zcash. It runs about 4.7 GSol/s of Equihash hashrate and holds more than 60 MW of contracted power across seven sites in South Dakota, Nebraska, Texas and New York. In July it agreed to buy 9,000 Antminer Z15 Pro machines for roughly $31.5 million, adding 7.56 GSol/s. The credit line with parent DCG has now grown from $50 million to $70 million, leaving about $42.7 million available to borrow.

Zcash Price Rises as Mining Bets Grow

Zcash traded above $1,370 on Tuesday, up 3.6% in 24 hours. Fortitude has stayed bullish on the asset, and DCG founder Barry Silbert has also made a case for Zcash.