Fortitude sold $8.3M in borrowed Zcash to fund mining expansion
- —Sold 5,790.48 ZEC for ~$8.3M after an ~$8.4M draw from DCG
- —Order for 9,000 Antminer Z15 Pro rigs at ~$31.5M: 3,000 in October, 6,000 in November
- —Plans a further $20M draw in ZEC for a deposit on next-generation equipment
- —The 9,000 rigs would add 7.56 GSol/s and 25.02 MW of load
Why it matters: Higher Zcash hashrate will cut incumbents' share of rewards, while selling borrowed ZEC adds supply without a spot purchase.
Source: CryptoSlate