Zcash Miner Fortitude Activates Self-Operated Mine in Nebraska, Advances IPO Plans

On July 28, according to Decrypt, Zcash mining company Fortitude announced that its first self-built 12 MW mining farm located in Grand Island, Nebraska, USA, has officially connected to the grid and commenced operations. This expansion brings its owned power portfolio to over 60 MW across 7 sites. The company stated that leveraging lower electricity prices and next-generation mining machines, this facility is expected to reduce its direct cash cost of mining Zcash from approximately $70 per coin to around $40. The current ZEC price is approximately $489, with a market capitalization of about $8 billion. Fortitude, controlled by Digital Currency Group, is advancing its US listing through a merger with Nasdaq-listed medical technology company HeartSciences. It emphasizes the adoption of self-built and self-operated power and sites to secure long-term low-cost electricity amidst intensifying competition in computing power and electricity, and AI data centers vying for power resources.