Fortitude Mining Holdings, Inc. and HeartSciences Inc. (NASDAQ: HSCS) have entered into a definitive merger agreement to combine in an all-stock transaction, the companies announced. The deal is expected to close in the second half of 2026, subject to HeartSciences shareholder approval and other customary closing conditions.

Under the terms of the agreement, the combined company will operate under the Fortitude brand and is expected to trade on the Nasdaq Capital Market under the ticker symbol "TUDE," pending Nasdaq approval. Fortitude CEO Andrea Childs will lead the combined company, while current HeartSciences CEO Andrew Simpson is expected to continue leading the healthcare business unit after closing.

Fortitude is a Zcash-focused digital asset mining platform currently wholly owned by Digital Currency Group (DCG). The company began mining ZEC, Zcash's native token, in 2019 and has scaled its annualized production to 157,000 ZEC, approximately 366 ZEC per day, as of May 31, 2026. DCG is expected to own approximately 95% of the combined company at closing on a fully diluted basis.

Fortitude operates across three areas: a vertically integrated Zcash mining strategy, a venture mining approach targeting early-stage Proof-of-Work protocols, and an owned portfolio of data center capacity backed by long-term power contracts.

Zcash posted a trailing twelve-month return of approximately 1,000% as of June 15, 2026, according to Investing.com. The press release notes that cryptocurrency prices are highly volatile and past performance is not indicative of future results.

Canaccord Genuity LLC and Ducera Partners are acting as financial advisors to Fortitude, with Ropes & Gray LLP serving as its legal counsel. Foley Shechter Ablovatskiy LLP is serving as legal counsel to HeartSciences, and Houlihan Capital, LLC acted as special financial advisor to HeartSciences.

HeartSciences is an AI-powered medical technology company focused on ECG management systems and devices. The company's shareholders will need to vote on the proposed transaction before it can proceed.