Fortitude Mining signs non-binding letter of intent with Bitmain for up to $100M in next-generation Zcash mining equipment, with shipments expected Q2 2027.
Macro & Markets ·
Fortitude Mining has committed to purchasing up to $100 million in next-generation Zcash mining equipment from Bitmain through a non-binding letter of intent that grants the miner priority access to the machines. Shipments are scheduled to begin in Q2 2027, contingent on completion of final specifications, pricing terms, and binding purchase agreements. The hardware has not yet launched commercially.
To support the acquisition, Fortitude's parent company DCG expanded the miner's credit facility to $70 million, an increase from the prior $50 million ceiling. Fortitude intends to draw $20 million immediately, denominated in ZEC, to pay a refundable deposit toward the equipment purchase.
The agreement remains non-binding, meaning either party may withdraw before definitive terms are finalized. The timeline and actual equipment specifications remain subject to change pending further negotiation and technical validation.