DCG's Zcash mining firm Fortitude Mining proposes merger with a Nasdaq-listed company

CoinFeed, June 24 - According to The Block, Fortitude Mining, a Zcash mining firm under Digital Currency Group (DCG), has proposed a merger with Nasdaq-listed small-cap medical company HeartSciences Inc. The latter's stock price surged about 60% in early trading on Tuesday, closing at $2.70, up about 55%. Fortitude Mining CEO Andrea Childs stated that the merger is not about business synergy but aims to gain capital market financing flexibility through a public listing to accelerate its risk-mining platform strategy, currently focusing on Zcash mining. DCG will hold approximately 95% of the new company.