Update
Fortitude Discloses Zcash Borrowing and Expansion Update
Fortitude Mining, a Zcash mining operator, disclosed selling borrowed Zcash (ZEC) for about $8.3 million in its October 5 expansion update. The debt is repayable in dollars, allowing Fortitude to sell the ZEC for cash and repay the loan without needing to buy back the same number of ZEC. The company plans to draw another $20 million in ZEC for a separate equipment arrangement, with a refundable deposit for the next-generation equipment expected in October.