DCG has launched a venture mining business as the digital asset firm explores new ways to bolster its revenue.
Fortitude, launched Wednesday, will mine Bitcoin in addition to pursuing a “venture mining” business model.
Under that strategy, the operation will identify and mine “high-growth digital assets in emerging proof-of-work] ecosystems with attractive return profiles,” Fortitude Mining CEO Andrea Childs told Decrypt.
“We're not Bitcoin maximalists…but we're return maximalists,” Childs said. “We look across the entire proof of work ecosystem to identify where we're going to get the highest return from our mining investment, and that's where we focus.”
Childs declined to disclose which tokens Fortitude will mine besides Bitcoin, specifying that the company has “cast a wide net across the proof-of-work ecosystem.”
Fortitude will utilize its existing infrastructure and funds to scale its operations, according to an emailed statement on Wednesday. However, the mining operation plans to reinvest its cash flows into new machine purchases and site acquisitions later this year.
Fortitude is a wholly-owned DCG subsidiary spun out of the self-mining division of Foundry, a digital asset infrastructure firm founded in 2019.
Bitcoin mining operations are offering large profits in 2025 as the token's price hovers around the $100,000 mark—substantially higher than the average cost of mining per Bitcoin.
The average cost of mining is roughly in the $26,000-$28,000 range per Bitcoin for most operators, CoinDesk reported, citing a research report published last week by financial firm Canaccord Genuity. Meanwhile, Bitcoin is trading at $104,000, CoinGecko data shows.
Potential profits from Bitcoin and venture mining operations could be a boon to Fortitude's parent company, DCG, which is navigating financial headwinds stemming from various lawsuits brought against it and its subsidiaries in recent years.
Earlier this month, DCG settled a legal case brought against it by the Securities and Exchange Commission for $38 million. Meanwhile, its subsidiary Genesis reached a $2 billion settlement with the New York Attorney General last year, according to a statement from New York prosecutors.
A DCG representative denied earlier this month the charges brought against it by the Securities Commissioner, saying the settlement “allows [DCG] to focus on our growth initiatives and continue to embrace the positive momentum in the industry.”
Edited by Sebastian Sinclair
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