DCG's Fortitude Records Net Loss Despite Substantial ZEC Mining Revenue

Fortitude, the Zcash mining subsidiary of Digital Currency Group (DCG), mined 33,646 ZEC in Q2, generating $20.9 million in revenue according to a report by The Block.

Despite this substantial output, Fortitude posted a net loss of $9.5 million due to an impairment loss of $10.3 million tied to mining equipment and related assets.

The write-down is likely attributed to declining profitability of ZEC mining, increased network difficulty, or the need to upgrade to more efficient hardware, which has been a common occurrence in the volatile crypto mining sector.