A miner is putting up to $100 million behind the idea that Zcash mining has room to grow.
Per The Block, Fortitude Mining signed a non-binding letter of intent with Bitmain for priority access to next-generation $ZEC miners worth up to $100 million. Its credit line with Digital Currency Group rose from $50 million to $70 million, and the $20 million deposit is to be funded in Zcash by DCG.
Fortitude already runs 4.7 GSol/s of hashrate with 60+ MW of contracted power. In my view, this is a long-dated bet on Zcash security and fees, not a quick trade, and the deal is still non-binding.
💬 Does more hashrate make you more confident in Zcash, or is it just mining hype?
#Zcash #Mining
Per The Block, Fortitude Mining signed a non-binding letter of intent with Bitmain for priority access to next-generation $ZEC miners worth up to $100 million. Its credit line with Digital Currency Group rose from $50 million to $70 million, and the $20 million deposit is to be funded in Zcash by DCG.
Fortitude already runs 4.7 GSol/s of hashrate with 60+ MW of contracted power. In my view, this is a long-dated bet on Zcash security and fees, not a quick trade, and the deal is still non-binding.
💬 Does more hashrate make you more confident in Zcash, or is it just mining hype?
#Zcash #Mining