Fortitude Mining Holdings has announced the appointment of Jaime Leverton, the former CEO of Hut 8, as its new chief executive officer as the Zcash-focused mining company prepares for a public listing through a merger with HeartSciences.

Leverton will officially assume her role on September 21, taking over from Andrea Childs, who will transition to the position of Chief Operating Officer. Following the completion of the merger, the newly formed entity will adopt the Fortitude name and will be listed on Nasdaq under the ticker symbol "TUDE."

This merger, first disclosed in June, is anticipated to finalize in the fourth quarter of this year, pending shareholder approval and other standard conditions. Estimates suggest that the combined company could be valued at a minimum of $400 million based on HeartSciences’ current stock price and the shares expected to be allocated to Digital Currency Group, Fortitude’s owner, and HeartSciences’ preferred shareholders.

Fortitude, which was spun off from Foundry's self-mining operations by Digital Currency Group in January 2025, is significantly involved in Zcash mining. The company produced approximately 28% of all ZEC mined in the first half of 2026 and reported revenues of $20.9 million in the second quarter.

Leverton most recently led ReserveOne, an institutional digital-asset manager, and has a background as CEO of Hut 8, where she oversaw its merger with US Bitcoin Corp and its shift from a Canadian-listed entity to one based in the U.S. focused on Bitcoin mining and high-performance computing.

Her appointment comes at a time when Fortitude is increasing its focus on Zcash, whose ZEC token has surged over 2,000% in the past year, bringing its market cap to around $21 billion. Fortitude mined a total of 72,696 ZEC in the first half of the year, contributing to about 28% of the overall network production.

The firm operates over 60 megawatts of power capacity across multiple sites in South Dakota, Nebraska, Texas, and New York. Leverton commented on Fortitude's unique approach to mining, highlighting its combination of owned power, mining locations, and in-house operations.

Fortitude positions itself as a "venture mining" platform, allocating resources across proof-of-work networks while primarily focusing on Zcash. The company is wholly owned by Barry Silbert’s Digital Currency Group. Childs will now focus on mining operations, fleet and infrastructure strategy, and building industry relationships in her new role as COO.

Read more: Digital Currency Group Spins Off Crypto Mining Subsidiary Fortitude From Foundry