Zcash Miner Fortitude Invests $1M in Merger Target HeartSciences
Fortitude Mining, a Digital Currency Group (DCG) subsidiary focused on Zcash mining, has acquired a 9.4% stake in HeartSciences for approximately $1 million. The private placement was made through the purchase of 411,522 common shares at $2.43 each.
The investment price represents a 22% premium to HeartSciences' closing share price on the purchase date. According to HeartSciences, the net proceeds will be used for operating expenses before the proposed merger closes in H2 2026.
The acquisition gives Fortitude Mining a direct stake in HeartSciences ahead of shareholder approval for the corporate combination. Despite the injection of capital, the exchange ratio remains unchanged, and Fortitude's equity holders will not receive additional closing shares.