Fortitude expects the new farm to reduce the direct costs of mining $ZEC cryptocurrency from $70 to $40 per coin — provided the mining equipment is successfully deployed, there is a stable power supply, and there is no severe volatility in the crypto market. Currently, Zcash is trading at a price of $462 with a market capitalization of $7.7 billion.
Fortitude explained the projected savings by lower electricity costs it plans to use and more efficient next-generation mining equipment. The company's management intends to purchase electricity at approximately $0.045 per 1 kWh. The new facility is located between two solar power plants and near a substation with excess capacity. This will allow for load interruption and reduced electricity consumption during peak grid load periods, the company assures.
Fortitude was established in January 2025 as a project of the mining division Foundry, which is part of Digital Currency Group. Fortitude engages in mining Bitcoin and other cryptocurrencies based on the Proof-of-Work (PoW) consensus algorithm, using a venture mining strategy where all profits are reinvested in purchasing new equipment and expanding infrastructure.
"In our view, Zcash is at a completely different stage of development compared to Bitcoin today. The economics of Bitcoin mining are more mature and saturated compared to $ZEC. We already have experience mining this cryptocurrency and intend to benefit from Zcash's further growth. Competition for electricity has intensified, but by owning our own sites, we aim to control electricity costs ourselves rather than relying on third-party suppliers," said Fortitude CEO Andrea Childs.
In May, Zcash developers promised that within a month they would offer users wallets with quantum attack protection and promised a full transition to post-quantum cryptography by the end of 2027.
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