Fortitude Mining Holdings has appointed Jaime Leverton, the former chief executive of Hut 8, as its new CEO. Leverton is set to assume the role on September 21, succeeding Andrea Childs, who will transition to chief operating officer. The move comes as the Digital Currency Group-owned company prepares for a public listing through a proposed combination with Nasdaq-listed HeartSciences.

Leadership Transition and Public Market Plans

Leverton will continue as CEO of the combined entity after the transaction closes. The merger, first announced in June, is expected to be completed in the fourth quarter of 2026, pending shareholder approval and other customary conditions. The resulting company is projected to adopt the Fortitude name and trade on Nasdaq under the ticker TUDE. Based on current share prices and expected share issuance to Digital Currency Group and preferred shareholders, the combined firm carries an implied valuation of at least $400 million.

Leverton most recently served as CEO of institutional digital-asset manager ReserveOne. During her earlier tenure at Hut 8, she guided the Bitcoin miner through its merger with US Bitcoin Corp and its shift to a U.S.-domiciled Nasdaq-listed company with operations spanning Bitcoin mining and high-performance computing.

In her new capacity, Childs will focus on mining operations, fleet management, infrastructure strategy, and industry relationships.

Operations and Production Scale

Fortitude specializes in Zcash mining and operates more than 60 megawatts of power capacity across seven sites in South Dakota, Nebraska, Texas, and New York. The company, which has mined ZEC since 2019, was spun out of Foundry’s self-mining business by Digital Currency Group in January 2025 and launched as a vertically integrated platform that year. It remains wholly owned by Digital Currency Group.

In the first half of 2026, Fortitude produced 72,696 ZEC, representing approximately 28 percent of the network’s total output during that period. Second-quarter revenue reached $20.9 million. In July, the company agreed to acquire 9,000 Bitmain Antminer Z15 Pro machines. These units are expected to add 7.56 GSol/s of equihash hashrate, with shipments scheduled for the fourth quarter.

The firm describes itself as a venture mining platform that allocates capital across proof-of-work networks while maintaining a primary focus on Zcash. It combines owned power assets, mining sites, and in-house operational capabilities.

Market Context for Zcash

The appointment arrives amid strong performance for Zcash’s native token. ZEC has advanced more than 2,000 percent over the past year, with a market capitalization near $21 billion. Fortitude’s significant share of network production positions it as a major participant in the Zcash ecosystem as it moves toward public markets.