Mining firm Fortitude has entered into a non-binding agreement with Bitmain for the purchase of next-generation Zcash (ZEC) mining equipment, valued at up to $100 million. Deliveries are expected to commence in the second quarter of 2027.
Under this agreement, Fortitude will gain priority access to Bitmain's installations that have not yet been introduced to the commercial market. The final specifications, pricing, and quantity of the equipment will be determined following the official launch of the products. Currently, the deal is non-binding.
Additionally, Fortitude has increased its credit line from Digital Currency Group from $50 million to $70 million. To facilitate the upfront deposit required for the agreement, Fortitude plans to raise $20 million in ZEC.