Fortitude Commits Up to $100M for New BITMAIN Zcash Miners
Fortitude is expanding its Zcash mining capacity through a $100 million hardware deal backed by expanded DCG financing.
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Key takeaways
- Fortitude locked in an equipment deal worth up to $100 million.
- The agreement gives the firm priority access to BITMAIN's next-gen Zcash miners.
- Digital Currency Group (DCG) is expanding its financing to support the push.
Fortitude is committing up to $100 million to buy next-generation Zcash miners from BITMAIN in an aggressive bid to scale its operation.
The deal grants Fortitude priority access to BITMAIN's newest privacy-coin hardware. Digital Currency Group (DCG) is backing the expansion with increased financing, handing Fortitude the balance sheet room it needs to ramp up total mining capacity.
Why it matters
Nine-figure hardware orders are routine in Bitcoin. For privacy coins like Zcash? Almost unheard of. DCG expanding its credit lines shows institutional capital still sees margin in proof-of-work altcoins. For everyday Zcash users and traders, though, pumping this much corporate hash rate onto the chain will fundamentally alter the network's distribution and security profile.
Source: The Block
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