Mining pool Foundry USA becomes top bitcoin miner in the world – Times of India


US-based Digital Currency Group company’s subsidiary (DCG) Foundry announced on December 8 about launching a bitcoin mining rig marketplace Foundryx. The company’s mining arm Foundry USA also became the world’s largest bitcoin miner in terms of hashrate on the same day. According to data by BTC.com, a professional data service for crypto enthusiasts, the largest bitcoin mining pool currently has 17.58 percent of hashrate. It has currently secured over 40,000 mining machines from Microbt and Bitmain. These 40,000 machines are available for reselling by 2022, Bitcoin.com reported.
The newly created mining rig marketplace Foundryx will perform these functions:

  • It will enable buying and selling of cryptocurrency mining machines.
  • The US-based secondary market claims to connect suitable buyers and sellers at the right price.
  • The new marketplace wants to make the process of owning miners easier by giving customers direct access to the company’s inventory and pricing.
  • Foundryx customers can utilize financing, shipping, logistics and pooled mining services through the company’s mining pool Foundry USA.
  • It aims to address the issues of semiconductor chip shortages and supply chain problems besides the huge payment deposits for buying quality machines.

Cryptocurrency mining firm Foundry was created in 2019. In August 2020, DCG unveiled that it had committed $100 million to Foundry. The crypto mining firm fulfils the following operations:

  • It was developed to fulfil the institutional demand for better capital access, efficiency and transparency in the digital currency mining and staking industry.
  • The company provides miners with tools required for building decentralized infrastructure and crypto mining.
  • It utilizes institutional expertise, capital and market intelligence to provide North American bitcoin miners and global manufacturers with the resources to build, maintain and secure decentralized networks.

Foundry USA has been consistently among the top 5 mining pools globally, since the last couple of months. Jeff Burkey, the Vice President of Foundry’s business development department, said that the company has the right market knowledge and data to match the appropriate buyers and sellers.
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