Fortitude Mining, a Digital Currency Group subsidiary focused on Zcash mining, wants to merge with HeartSciences Inc., a small-cap NASDAQ-listed company.
News of the proposed deal sent HeartSciences stock soaring, even as ZEC has had a rough month. The privacy-focused cryptocurrency has faced sell pressure amid broader market uncertainty.
The merger would give Fortitude a public market listing through a backdoor route. DCG, Barry Silbert’s crypto empire, has been streamlining its portfolio amid industry consolidation.
For HeartSciences, a medical AI company specializing in heart disease detection, the merger with a crypto miner would represent a dramatic pivot.
Regulatory filings are expected in the coming weeks.
