Fortitude Plans Zcash Mining Expansion
Fortitude Mining has signed an agreement with BITMAIN for priority access to its next-generation Zcash mining equipment. The company announced a non-binding commitment to purchase up to $100 million of equipment. Fortitude currently operates around 4.7 GSol/s of Equihash hashrate and has already ordered 9,000 Antminer Z15 Pro machines for approximately $31.5 million. The new equipment could significantly expand the company’s position in the Zcash network. To support the expansion, Fortitude also increased its Digital Currency Group credit facility from $50 million to $70 million. Under the BITMAIN agreement, the company must provide a refundable deposit equal to 20% of the potential commitment, or around $20 million, with DCG expected to fund the borrowing in ZEC. Zcash was trading above $1,370 on October 6, gaining roughly 3.6% over 24 hours. For xbit.money users, growing mining capacity is another factor to consider when tracking ZEC. Check the latest Zcash rate and exchange crypto at xbit.money.