DCG's Zcash mining firm Fortitude Mining proposes merger with a Nasdaq-listed company

PA一线
PA一线
PANews reported on June 24, according to The Block, that Fortitude Mining, a Zcash mining company under Digital Currency Group (DCG), has proposed a merger with Nasdaq-listed small medical firm HeartSciences Inc. The latter's stock surged about 60% in early trading on Tuesday, closing at $2.70 with a gain of approximately 55%. Fortitude Mining CEO Andrea Childs stated that the merger is not about business synergy but aims to gain capital market financing flexibility through a public listing, in order to accelerate its risk-mining platform strategy, which currently focuses primarily on Zcash mining. DCG will hold approximately 95% of the new company's shares. Childs emphasized that Fortitude Mining is not a digital asset treasury company, but an operating entity that has been continuously purchasing mining rigs specifically to mine Zcash since 2019. It currently does not hold a large amount of ZEC, but may adjust its strategy in the future to retain more Zcash on its balance sheet to reduce the need for liquidation. Childs remains bullish on Zcash's long-term potential, stating that it could reach 10% of Bitcoin's market capitalization.
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