Fortitude Mining Invests $1 Million in HeartSciences Ahead of Proposed Merger

Fortitude Mining, a Zcash-focused miner owned by Digital Currency Group (DCG), has made a significant investment in HeartSciences, a Nasdaq-listed company. On August 12th, Fortitude bought approximately 9.4% of HeartSciences' common shares for about $1 million, with the price representing a 22% premium to the closing share price on the purchase date.

The private placement involved the sale of 411,522 HeartSciences common shares at $2.43 each, with Fortitude's exact cash outlay totaling $999,998.46. This investment gives Fortitude a direct stake in HeartSciences ahead of the proposed merger, which is expected to close in H2 2026.

The proposed structure of the merger would give DCG about 95% of the combined company's voting interests, while existing HeartSciences equityholders would retain around 5% of its voting and economic interests. Fortitude's $1 million investment will be used for operating expenses before the proposed combination closes.