HeartSciences Files Proxy for DCG Subsidiary Merger, Issues 107.6M Shares

HeartSciences submits SEC proxy for merger with Fortitude Mining, issuing 107.6M shares for $70M equity. Fortitude reports 28% ZEC hash rate and new 60MW Nebraska facility.

Woofun AI reports that HeartSciences (HSCS) has filed a preliminary proxy statement with the SEC concerning its proposed merger with Fortitude Mining Holdings, a Digital Currency Group subsidiary. The transaction entails issuing approximately 107.6 million new Class V common shares to DCG, yielding $70 million in pro forma shareholders’ equity. The filing also seeks board authority to execute a reverse stock split between 1:2 and 1:5 to satisfy Nasdaq listing requirements. HeartSciences reported no significant revenue for fiscal year 2026, holding $1.7 million in cash and $200,000 in equity. Fortitude, which mined 72,696 ZEC (28% of supply) in the first half of 2026, activated a new Grand Island, Nebraska facility, raising capacity to over 60MW. This expansion aims to lower Zcash mining costs from $70 to $40 per coin.