Mining companies are intensifying efforts to secure energy resources as demand for data centers rises, with Fortitude Mining's latest acquisition in Nebraska.
Amid soaring demand for data centers, mining companies are increasingly vying for energy resources. Fortitude Mining, specializing in Zcash mining, has expanded its operations by acquiring a 12.5 MW facility in Nebraska. This acquisition is part of a broader trend noted by Bernstein analysts, who have observed a rise in the value of approved energy connections in Texas.
Fortitude's acquisition, which includes land, a building, and a 67 kV substation, is valued at a nominal price of $6.25 million. After adjustments, the net cash outlay is estimated to be about $4.7 million. With this new facility, Fortitude's total contracted capacity now surpasses 60 MW across seven sites in South Dakota, Nebraska, Texas, and New York.
“Acquiring the facility in Prosser is a significant step in scaling our operational portfolio,” said CEO Andrea Childs, emphasizing the company’s strategy to enhance its value through targeted acquisitions.
The facility is expected to have an electricity cost of approximately $0.045 per kWh, which Fortitude anticipates will help lower the cash cost of mining ZEC from about $70 to $40 per coin under stable conditions. Currently, ZEC is trading above $485, reflecting a 5.2% increase over the last month, according to CoinGecko.
This latest acquisition follows Fortitude's launch of a 12 MW facility in Grand Island, described as the company’s first purpose-built site. In addition, the firm recently invested around $31.5 million in 9,000 Antminer Z15 Pro units from Bitmain, which are projected to boost its hash rate by approximately 7.56 GSol/s. In the first half of 2026, Fortitude mined 72,696 ZEC.
Texas Energy Landscape
In Texas, Governor Greg Abbott has mandated an audit of data centers seeking connections to the grid due to rising electricity demands. This audit has resulted in a suspension of approvals for new projects until its conclusion, as noted by the Texas Tribune.
ERCOT is currently monitoring over 1,800 applicants with a combined capacity of more than 474 GW, with about 90% of these requests linked to data centers. Abbott stressed the importance of meeting regulatory standards for any project seeking to connect to the grid.
“Our top priority is protecting the safety and quality of life for Texans,” Abbott stated.
Analysts from Bernstein believe that the moratorium will not significantly affect existing energy contracts for Bitcoin miners, but could hinder speculative projects, thereby increasing the value of sites with pre-approved capacities. Recently approved facilities include those owned by IREN and Riot Platform, while companies like Cipher Digital, Core Scientific, and CleanSpark may face more obstacles in the future.
In notable transactions, MARA Holdings acquired a site in Matagorda County, Texas, potentially worth $600 million upon project completion. Additionally, Hut 8 signed a 15-year lease for the second phase of the Beacon Point AI campus in Texas, amounting to $9.8 billion.
