Fortitude Mining has not completed a $100 million miner purchase. On October 5, 2026, its subsidiary Fortitude Mining, LLC said it signed a non-binding letter of intent with BITMAIN Technologies Delaware Limited for priority access to unreleased, next-generation Zcash mining equipment. Any purchase depends on a later binding agreement after specifications and pricing are released.
What did Fortitude and BITMAIN agree to?
The letter of intent (LOI) gives Fortitude a priority supply allocation for BITMAIN’s next-generation Zcash mining equipment. The machines had not been commercially released when Fortitude announced the arrangement. The company described its indicative commitment as up to $100 million, and said it could scale the amount up, subject to equipment availability and BITMAIN’s consent, or down after the official announcement. Fortitude’s October 5 announcement says a binding purchase agreement would be needed once final specifications and prices are available.
That distinction matters: the LOI establishes a potential procurement plan, not a completed order for $100 million of identified or delivered machines. The announcement does not specify a final unit count, model, hashrate, or purchase price per machine.
Did Fortitude actually buy $100 million of Zcash miners?
No completed $100 million purchase is established by the announcement. The amount is an upper limit on an indicative, non-binding commitment under the LOI. Fortitude said it expected equipment shipments to begin in Q2 2027, but that is the company’s forward-looking expectation, not a confirmed delivery date.
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Until BITMAIN announces the equipment and the parties execute a binding purchase agreement, readers cannot use the LOI to determine how many miners Fortitude will acquire, what they will cost, or what capacity they will add.
How does this fit with Fortitude’s existing mining operation?
Fortitude reported an operating Equihash hashrate of approximately 4.7 GSol/s and more than 60 MW of contracted power capacity across seven sites in South Dakota, Nebraska, Texas, and New York. These are company-reported figures, not independent measures of the wider Zcash mining market. The announcement does not provide a market-wide comparison.
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The separate 9,000-unit Z15 Pro order
Fortitude’s previously announced order for 9,000 BITMAIN ANTMINER Z15 Pro miners is separate from the new LOI. Fortitude describes the Z15 Pro as a purpose-built Equihash ASIC on its official website. It is a named model; the next-generation equipment covered by the LOI was unreleased and unnamed. The Z15 Pro order therefore does not establish the model, specifications, or unit count for the potential new purchase.
How does Fortitude plan to fund the commitment?
Fortitude said the LOI requires a refundable deposit equal to 20% of the commitment, or $20 million. The company also reported that its credit-facility commitment had increased from $50 million to $70 million, with about $42.7 million of borrowing capacity remaining after the amendment, subject to the facility’s terms.
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- PERFECT DESIGN - Professional design for mining rig frame, accelerating the air convection, super cooling design for heat dissipation. Enough space reserved between the graphics cards.
- EASY TO INSTALL - This mining case is easy to install and is with strong structure. Keep all cables clean and organized, along with everything in your mining machine.For installation steps, please refer to the user manual
- NOTICE - This mining rig frame is the Frame Only, not includes Fans or other CPU, GPU, PSU, Motherboards, Cables. If you are not 100% satistifed with this Miner, please feel free to contact us, we will offer you a satisfactory soluiton within 24 hours.
The company said it planned to draw $20 million that week, expected to receive funding in ZEC from DCG, and planned to liquidate ZEC to fund the deposit. Those were announced plans, not confirmation that the draw, funding, liquidation, or deposit had been completed.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What remains uncertain?
- Equipment: BITMAIN had not commercially released the next-generation machines, and final specifications were pending.
- Price and quantity: The final price and number of units were not stated; a binding purchase agreement remains a condition of the potential transaction.
- Delivery: Q2 2027 was Fortitude’s expected shipment start, not a guaranteed date.
- Funding actions: The deposit-related draw and ZEC transactions were plans described by the company, not completed transactions in the announcement.
The Block’s October 6, 2026 coverage also reported the LOI and company operating and financing figures. The contractual terms above come from Fortitude’s announcement.
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