Zcash miner Fortitude, backed by Digital Currency Group CEO Barry Silbert, has brought a new 12-megawatt mining facility in Grand Island, Nebraska, online.
The Nebraska facility is Fortitude's first self-developed mining site and pushes its contracted power portfolio to more than 60 MW across seven locations in five states.
Fortitude said the site's estimated power cost of about $0.045 per KW/h, combined with newer-generation mining equipment, is expected to reduce its mining costs to around $40 from roughly $70 per ZEC.
"The Grand Island Facility is a meaningful step forward in our owned-and-operated power strategy, which we believe gives us the cost discipline and operational flexibility to scale on our own terms," CEO Andrea Childs said in a statement.
"We're proud to energize this facility and to start hashing across diversified, high-conviction networks." The Grand Island site sits between two solar power facilities and next to a substation with excess capacity, according to Fortitude.
