DCG's crypto mining company, Fortitude, is adjusting its management ahead of a potential NASDAQ listing. The company disclosed that the former Hut CEO, Jaime Leverton, will take on the position of CEO on September 21st, while the current person in charge, Andrea Childs, will be reassigned to the role of Chief Operating Officer.

It is expected that the name Fortitude will be continued to be used after the merger.

Fortitude is in the process of advancing a business merger with HeartSciences, which is already listed on NASDAQ. The company stated that after the transaction is completed, the merged entity is expected to continue using the name Fortitude and will trade on NASDAQ under the code TUDE. Leverton will also continue to serve in the role of CEO.

This transaction was first announced in June of this year and is expected to be completed in the fourth quarter, provided that shareholder approval is obtained and other regular delivery conditions are met. Based on the current stock price of HeartSciences, and considering the shares to be issued to the parent company Digital Currency Group and the preferred shareholders of HeartSciences, the implied valuation of the merged company is at least $400 million.

Hut 8 CEO Take over the company

Leverton previously served as the Hut of a Bitcoin mining company, CEO. She led the merger of that company with US Bitcoin Corp and facilitated its transition from a Canadian-listed mining firm to a company based in the United States that also focuses on Bitcoin mining and high-performance computing. She is currently employed at the institutional digital asset management company ReserveOne.

Fortitude was spun off from Foundry's own mining operations by DCG in January 2025. It is currently wholly owned by DCG. After Andrea Childs took on the role of COO, they will mainly be responsible for mine operation, mining machine fleet management, infrastructure strategy, and industry partnerships.

In the first half of the year, it accounted for ZEC of the total online car-hailing market, which is 28%.

Fortitude currently focuses on mining with Zcash as its core. The company disclosed that within the six months up to June, it had mined a total of 72,696 ZEC, which accounts for about 28% of the total output of the entire network during the same period. The revenue for the second quarter was 20.9 million US dollars.

The company operates a total of 7 sites in South Dakota, Nebraska, Texas, and New York, with a power capacity of over 60 megawatts. Fortitude positions itself as a “venture mining” platform, which means that while maintaining Zcash as its main focus, it will also allocate capital across multiple proof-of-work networks.

Additional information:The report mentioned that ZEC has seen a cumulative increase of over 2000% in the past year, which is also one of the reasons why the market has paid attention to Fortitude's expansion of Zcash exposure.