Fortitude announced that it has commissioned a 12-megawatt mining farm in Grand Island, Nebraska. This is its first data center project built from scratch. With the new site now operational, the company's owned power assets across seven sites exceed 60 megawatts.

This development comes before its planned IPO. Fortitude had previously announced a business merger with Nasdaq-listed medical technology company HeartSciences, which would allow the company to enter the public market upon completion of the transaction.

First self-built data center put into operation

The company stated that the new mining farm has completed construction and electrical testing and is ready for commercial operation. Fortitude is owned by Digital Currency Group and focuses on Zcash mining, while also covering proof-of-work crypto assets such as Bitcoin.

Management stated that the company adopts a strategy of owning and operating its own power, rather than leasing power capacity from third parties. According to them, this model helps to directly control electricity costs and also leaves more room for maneuver in mining rig deployment and site scheduling.

Zcash's estimated cost has dropped to $40.

The company anticipates that, assuming successful deployment of the mining rigs and stable power, network, and market conditions, this site can reduce the cost of direct cash mining of Zcash from approximately $70 per coin to approximately $40. The cost reduction will primarily stem from lower self-owned electricity prices and a new generation of mining equipment.

• The newly commissioned mine has a capacity of 12 megawatts.
• The total scale of its owned power assets exceeds 60 megawatts.
• The estimated cost of electricity purchase is approximately US$0.045 per kilowatt-hour.

According to the company's disclosure, the facility is located between two solar power generation facilities and next to a substation with spare capacity, so it can operate as an interruptible load to reduce power consumption during peak electricity demand.

Backdoor listings and power competition go hand in hand

Fortitude was spun off from the mining business of Digital Currency Group's Foundry in January 2025. At the time, the company stated that it would continue to reinvest mining profits into new equipment and site acquisitions to expand its infrastructure footprint.

At the industry level, mining companies are continuously vying for low-cost power resources. As AI data centers increase their demand for electricity and space, data center sites suitable for deploying mining farms are becoming more sought after. Fortitude states that its self-built and owned site model aims to reduce reliance on third-party suppliers.

Additional information:The cost reduction mentioned in the article is the company's estimated value, which is based on the premise that the mining machines are successfully launched and that the power, network and market environment remain stable.