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Fortitude Announces Amendment to Existing DCG Credit Facility, Increasing Commitment by $24 Million and Providing for Future Funding in ZEC
Summary by The Standard-Journal
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Cryptocurrency News | Cryptocurrency Prices | Market CapFortitude raises credit facility to $50M to fuel Zcash mining expansion
Fortitude Mining raises its credit facility to $50M to buy 9,000 ASIC miners and expand Zcash operations past 60 MW as it eyes a public listing.
According to ChainCatcher, Fortitude Mining's parent company, Digital Currency Group, has increased its existing credit line from $26 million to $50 million, with an additional commitment of $24 million. Fortitude Mining currently has approximately $31 million in available borrowings, which are expected to be disbursed entirely in ZEC tokens for the purchase of 9,000 Zcash ASIC miners, as well as capital expenditures such as the construction and…
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