Mining Pool Foundry USA Becomes Top Bitcoin Miner, Firm Reveals New Mining Machine Marketplace With Access to 40,000 ASICs
At the end of August 2020, Digital Currency Group (DCG) revealed that it pledged $100 million to a cryptocurrency mining firm called Foundry. The company was quietly founded in 2019 and ever since the firm’s inception, it has made significant headway in the bitcoin mining industry.
As a subsidiary of DCG, Foundry provides machines, capital, consulting, and intelligence to digital assets miners. The company also operates a mining pool called Foundry USA, which is the largest bitcoin mining pool on December 8, 2021, with 16.5% of the global hashrate or 29.83 exahash per second (EH/s) of hashpower.
During the last couple of month’s Foundry USA has been a top pool, consistently commanding a position in the top five mining pools globally. On the same day it commands the largest fraction of SHA256 hashpower worldwide, they announced the launch of a bitcoin mining rig market called Foundryx.
The marketplace matches buyers and sellers of bitcoin mining machines and customers gain access to the company’s inventory and pricing. The company details that it has secured more than 40,000 machines from Microbt and Bitmain that can be delivered in 2022.
Foundry also says that Foundryx customers can also leverage the company’s enterprise-grade products including services like financing, shipping, logistics, and pooled mining via the company’s mining pool Foundry USA.
Foundry Aims to Provide a Reliable U.S.-Based Secondary Market for Mining Machines
As things like the semiconductor chip shortages and supply chain problems plague the industry, Foundry details that the company aims to make the process of acquiring miners easier. Furthermore, some resellers require hefty deposits in order to purchase quality machines.
“Foundry solves these problems by providing buyers and sellers with a trusted and reliable U.S.-based secondary market for mining machines,” the company’s announcement explains.
“With the industry’s leading clients and partners, from machine manufacturers to mining companies, we have the market knowledge and data to match the right buyers and sellers, at the right price,” Jeff Burkey, VP of Foundry’s business development department said during the announcement.
Foundry’s marketplace follows the company launching a range of services for 20 crypto staking networks. The company has also partnered with a slew of bitcoin mining operations this year including firms like Greenidge Generation Holdings, Bitfams, Hut8, Cleanspark, Core Scientific, Compute North, Bit Digital, Bitdeer, and Hive.