Fortitude Mining reports $21M Q2 revenue and plots public listing via reverse merger

Fortitude Mining Holdings had a busy second quarter. The company pulled in $20.9 million in revenue while simultaneously engineering a path to the public markets, announcing a merger with HeartSciences Inc., a Nasdaq-listed AI medical technology company, on July 23, 2026. The net loss for the quarter came in at roughly $9.5 million, a widening from the $4.6 million loss posted in Q1 2026. Revenue, at least, is moving in the right direction: Q1 brought in $19.2 million, so the sequential uptick shows the mining operation is scaling. The reverse merger playbook HeartSciences trades on Nasdaq under the ticker HSCS. By merging with it in an all-stock deal, Fortitude gets immediate access to public market infrastructure. The deal is expected to close in the second half of 2026. Digital Currency Group is among Fortitude’s early-stage venture backers. What Fortitude actually does Fortitude is a Zcash miner, founded in 2024, with a pitch built around low-cost, vertically integrated production. Vertical integration in mining means the company handles its own hardware management in-house rather than outsourcing it, and the company has also secured long-term power contracts to keep costs down...