Zcash Miner Fortitude Opens New Nebraska Facility to Cut Costs

Fortitude, a mining company backed by Barry Silbert, has officially brought its new 12 megawatt facility in Nebraska online. The site is designed to improve the operational efficiency of the firm as it focuses on Zcash production.

The expansion is a major step toward better margins. The company expects to lower its direct cash cost of mining from roughly 70 dollars per ZEC to about 40 dollars per ZEC. This reduction could help the firm stay profitable even when market conditions fluctuate.

Lowering mining costs is a standard move to stay competitive in the Proof of Work space. Market observers will watch to see if this shift in efficiency helps the firm maintain its position as a top producer of the privacy coin. Stable production costs are often vital for mining firms to handle price volatility in the open market.