Zcash Miner Fortitude Merging with HeartSciences to Go Public

By Karen Roman

Fortitude Mining Holdings, Inc., a Zcash mining platform, has agreed to merge with HeartSciences Inc. (Nasdaq: HSCS) in an all-stock transaction that will take the company public.

The combined company is expected to trade on the Nasdaq under the ticker “TUDE” and operate under the Fortitude brand. The transaction is expected to close in the second half of 2026.

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Fortitude has mined Zcash since 2019 through a fully integrated model spanning owned data centers, power infrastructure and mining operations. The company generated approximately $90 million in fiscal 2025 gross revenue and $20 million in adjusted EBITDA on a debt-free balance sheet.

“As a public company, we anticipate having the flexibility and access to capital to accelerate our core venture mining platform and continue pursuing high-return opportunities in the Proof-of-Work ecosystem, including our long-standing position in Zcash,” said Andrea Childs, CEO of Fortitude.

The company operates 48 megawatts of owned power capacity across six sites and expects to grow that to approximately 80 megawatts by the end of 2026, providing lower mining costs and additional revenue opportunities.