Quick Take
- Fortitude Mining has completed the cash acquisition of a 12.5 MW mining facility for a net outlay of about $4.7 million after credits.
- The site, which includes full ownership of the land, building, and on-site substation, is the companys third in Nebraska and contributes to an owned power portfolio of more than 60 MW across seven sites.
Fortitude Mining Holdings, Inc., the Zcash mining subsidiary of Digital Currency Group, has completed its acquisition of a 12.5 megawatt facility in Prosser, Nebraska, according to an announcement on Tuesday.
This comes about a week after Fortitude announced it was bringing a 12 MW mining facility in Grand Island, Nebraska, online. That Nebraska facility was called Fortitude's first self-developed mining site.
The Prosser site will be Fortitudes third in Nebraska and adds to its owned power portfolio of more than 60 MW across seven sites in South Dakota, Nebraska, Texas, and New York.
“The acquisition of our Prosser Facility is a significant step forward in scaling our owned-and-operated portfolio,” Fortitude CEO Andrea Childs said. By pairing targeted acquisitions like Prosser with our own greenfield development, we are building a vertically-integrated platform designed to maximize the value of every megawatt we own.
Fortitude said it funded the acquisition entirely using cash on its balance sheet of about $6.25 million for the property and improvements. However, the sticker price was reduced by a $985,000 hosting deposit credit and a $465,500 credit from the sale of about 1,400 T21 miners, resulting in a net cash outlay of approximately $4.7 million.
The deal includes the land, building, and an on-site 67 kV substation, as well as a 90-day construction warranty plus assigned manufacturer warranties. Owning the property will help Fortitude maintain long-term cost control and operational flexibility, according to CFO Erik Ellingson, who noted it was already listed as an “operating asset” that was “generating revenue at close.”
Prosser is estimated to provide low, stabilized power costs of approximately $0.045 per kWh, a rate that Fortitude previously said could reduce its mining costs to around $40 per ZEC (ZEC).
DCG spun Fortitude out of its Foundry bitcoin mining subsidiary in late 2025. Fortitude is planning to go public through a proposed merger with HeartSciences, and expected to trade on the Nasdaq under the ticker TUDE pending approvals.
Last month, Fortitude announced plans to acquire 9,000 Bitmain Antminer Z15 Pro miners for roughly $31.5 million, a move that could boost its Zcash mining capacity by 145%.
ZEC is trading at about $488, according to The Blocks price page. The cryptocurrency jumped from about $40 in September to a recent high of nearly $699 in November, before losing ground. The token is up over 94% over the last six months, up about 5.6% over the past month, and down 4.4% year-to-date, per TradingView.
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