Zcash miner Fortitude names former Hut 8 chief Jaime Leverton CEO ahead of Nasdaq deal
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Fortitude Mining Holdings appointed Jaime Leverton, former CEO of Hut 8, as its new CEO ahead of its planned Nasdaq listing via a merger with HeartSciences. The company focuses on mining Zcash (ZEC) and aims to trade under the ticker “TUDE” after the merger. Andrea Childs will transition to the role of COO, and the combined entity could be valued at a minimum of $400 million.
Why it matters
The appointment signals Fortitude’s ambitions to expand its footprint in the crypto mining industry and go public, potentially increasing market visibility for Zcash mining operations. The source does not elaborate on broader market or regulatory impacts of this leadership change or the merger.
Key context
Fortitude was spun out of Digital Currency Group's Foundry self-mining business in January 2025. The company mined about 28% of all Zcash produced in the first half of 2026 and earned $20.9 million in revenue during Q2 2026. Leverton has previous experience leading Hut 8 through its transition to a U.S.-domiciled bitcoin miner and merger with US Bitcoin Corp.
Key numbers and entities
Fortitude Mining Holdings, HeartSciences (HSCS), Digital Currency Group, Jaime Leverton, Andrea Childs, Nasdaq ticker “TUDE,” $20.9 million (Q2 revenue), 72,696 ZEC mined in H1 2026 (28% of network). The combined company’s implied valuation is at least $400 million. Fortitude operates more than 60 megawatts of power capacity across seven U.S. sites.
What remains unclear
The source does not specify the exact timing beyond Q4 for closing the merger, the strategic plans post-merger, or the detailed terms of the shareholder approval process. It also does not discuss potential risks or challenges facing Fortitude’s business model or market environment.