Fortitude Mining upsizes credit facility to $50M for Zcash mining expansion
- —Credit facility raised from $26M to $50M, with about $31M undrawn
- —Plans to buy 9,000 Bitmain Antminer Z15 Pro ASIC miners
- —Installed capacity tops 60 MW after adding 24.5 MW in Nebraska
- —Targets roughly $40 per ZEC mined at $0.045/kWh power rate
Why it matters: Expanding Zcash mining capacity and tying the loan to ZEC strengthens the link between mining economics and the asset's price, potentially supporting network hashrate.
Source: Crypto Briefing