Zcash mining company Fortitude has secured a $50 million credit line from its parent firm DCG, with the funds earmarked for expanding its mining rigs and data centers.
55 minutes ago
Zcash mining company Fortitude Mining announced that its parent firm Digital Currency Group (DCG) has increased its existing credit line from $26 million to $50 million, adding a new commitment of $24 million. Combined with the remaining balance of the original credit line, Fortitude now has approximately $31 million in available borrowing, and expects all these funds will be disbursed in ZEC. After receiving the ZEC, Fortitude can sell them on the open market, with the proceeds used to cover the purchase of 9,000 Zcash ASIC miners, as well as capital expenditures for building and acquiring data centers, power infrastructure, and other related facilities. Source: TheEnergyMag
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