By Karen Roman
Fortitude Mining Holdings, Inc., a Zcash mining platform, has agreed to merge with HeartSciences Inc. (Nasdaq: HSCS) in an all-stock transaction that will take the company public.
The combined company is expected to trade on the Nasdaq under the ticker "TUDE" and operate under the Fortitude brand. The transaction is expected to close in the second half of 2026.
Fortitude has mined Zcash since 2019 through a fully integrated model spanning owned data centers, power infrastructure and mining operations. The company generated approximately $90 million in fiscal 2025 gross revenue and $20 million in adjusted EBITDA on a debt-free balance sheet.
In an investor presentation, the company also indicated that if Zcash reaches $500, it could reach up to $55 million in run-rate Ebitda.
Fortitude Mining Holdings, Inc., a Zcash mining platform, has agreed to merge with HeartSciences Inc. (Nasdaq: HSCS) in an all-stock transaction that will take the company public.
The combined company is expected to trade on the Nasdaq under the ticker "TUDE" and operate under the Fortitude brand. The transaction is expected to close in the second half of 2026.
Fortitude has mined Zcash since 2019 through a fully integrated model spanning owned data centers, power infrastructure and mining operations. The company generated approximately $90 million in fiscal 2025 gross revenue and $20 million in adjusted EBITDA on a debt-free balance sheet.
In an investor presentation, the company also indicated that if Zcash reaches $500, it could reach up to $55 million in run-rate Ebitda.
2 months ago
