In a significant move that strengthens North America’s position in the global Bitcoin mining landscape, Bit Digital, Inc., a Nasdaq-listed Bitcoin mining company, has officially joined the Foundry USA Pool. The integration involves approximately 5,679 mining machines contributing up to 280 petahashes per second (PH/s) of computing power, marking a pivotal step in both companies’ strategies to enhance network security and institutional adoption of Bitcoin mining.
This collaboration underscores a growing trend among publicly traded mining firms to align with secure, transparent, and institutionally focused mining pools—particularly those based in regulated jurisdictions like the United States.
Strategic Alignment Between Bit Digital and Foundry
Bit Digital’s decision to mine on the Foundry USA Pool reflects its commitment to operational transparency, financial stability, and regulatory compliance. As a U.S.-headquartered company listed on Nasdaq under the ticker BTBT, Bit Digital prioritizes partnerships that support long-term shareholder value and align with institutional standards.
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Foundry USA Pool, a subsidiary of Digital Currency Group (DCG), stands out as the first North American Bitcoin mining pool to offer the Full Pay Per Share (FPPS) reward system without relying on third-party intermediaries. This model ensures miners receive consistent, predictable payouts by factoring in both block rewards and transaction fees, minimizing revenue volatility caused by luck-based variance in block discovery.
Mike Colyer, CEO of Foundry, emphasized the strategic importance of this partnership:
“By partnering with Bit Digital—a leading Nasdaq-listed mining company—we reaffirm that our mining pool is purpose-built for institutional players. We look forward to providing best-in-class services to Bit Digital and continuing our mission of strengthening Bitcoin by decentralizing its mining network.”
Institutional-Grade Infrastructure and Financial Integration
One of Foundry USA Pool’s key differentiators is its seamless integration with Genesis Global Trading Inc., another DCG-owned entity and a premier digital asset prime broker. This synergy enables institutional miners like Bit Digital to access advanced treasury management solutions, including:
- High-security digital asset custody
- Bitcoin-collateralized lending
- Yield generation on BTC holdings
- Derivative products for hedging and risk management
- Efficient liquidation pathways
These services collectively reduce operational friction and allow miners to optimize capital efficiency—a critical advantage in an industry where margins are tightly linked to energy costs, hardware performance, and market timing.
Bryan Bullett, CEO of Bit Digital, commented on the benefits of joining Foundry’s ecosystem:
“We are pleased to join Foundry USA Pool, which is a U.S.-based pool that meets the institutional needs of publicly traded companies like ours, while providing its customers with some of the best services and payouts in the industry.”
Scaling Hash Rate and Mining Capacity
Since launching its Bitcoin mining operations in February 2020, Bit Digital has rapidly scaled its infrastructure. As of March 31, 2021, the company operated a total of 40,965 mining machines with a combined hash rate capacity of 2,264.5 PH/s. In the first quarter of 2021 alone, Bit Digital successfully mined 1,013.4 bitcoins, demonstrating strong operational execution despite increasing network difficulty.
The deployment of 5,679 machines—contributing 280 PH/s—to Foundry USA Pool represents roughly 12% of Bit Digital’s total fleet at the time and signals confidence in Foundry’s infrastructure and payout reliability.
This move also contributes to Foundry’s broader goal: securing a permanent position among the top five global Bitcoin mining pools by hashrate share. With major clients such as Bitfarms, Hut 8, Blockcap, and now Bit Digital, Foundry continues to consolidate its influence in the institutional mining sector.
Core Keywords Driving Industry Trends
The partnership highlights several core themes shaping the future of Bitcoin mining:
- Bitcoin mining pool
- Hash rate
- Institutional Bitcoin mining
- FPPS payout method
- Mining decentralization
- Digital asset treasury management
- Nasdaq-listed crypto companies
- North American Bitcoin mining
These keywords reflect growing investor interest in transparent, compliant, and scalable mining operations—particularly those rooted in North America’s increasingly robust digital asset ecosystem.
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Frequently Asked Questions (FAQ)
Q: What is an FPPS payout model, and why is it beneficial for miners?
A: FPPS (Full Pay Per Share) is a reward system that pays miners for each valid share they submit, factoring in both block rewards and transaction fees. It offers more stable income compared to PPLNS (Pay Per Last N Shares), reducing payout variance and providing predictable revenue streams—ideal for institutional operators managing large fleets.
Q: Why are U.S.-based mining pools gaining popularity among public companies?
A: U.S.-based pools like Foundry USA Pool offer greater regulatory clarity, financial transparency, and integration with compliant financial services. For publicly traded firms, these factors reduce operational risk and enhance investor confidence.
Q: How does joining a major mining pool impact Bitcoin’s network security?
A: Larger, decentralized pools contribute to a more resilient network. When reputable institutions participate in well-distributed pools, it reduces the risk of hash rate centralization and potential 51% attacks, strengthening overall blockchain integrity.
Q: What role does hash rate play in Bitcoin mining profitability?
A: Hash rate measures the computational power dedicated to securing the Bitcoin network. Higher hash rates increase the probability of solving blocks and earning rewards. However, profitability also depends on electricity costs, hardware efficiency, and pool fee structures.
Q: Is Foundry USA Pool available to individual miners or only institutions?
A: While Foundry USA Pool primarily serves institutional clients, it is technically open to individual miners. However, its feature set—especially integration with Genesis trading and lending services—is optimized for larger-scale operations.
Q: How does this partnership affect Bit Digital’s long-term strategy?
A: By aligning with a trusted U.S.-based pool offering stable payouts and financial services integration, Bit Digital strengthens its operational foundation. This supports sustainable growth, enhances transparency for shareholders, and positions the company as a leader in compliant Bitcoin mining.
A Step Toward Decentralized Mining Leadership
The collaboration between Bit Digital and Foundry exemplifies how strategic alliances can drive innovation and resilience in the Bitcoin ecosystem. As network difficulty rises and environmental scrutiny increases, miners must prioritize efficiency, location diversification, and institutional-grade infrastructure.
Foundry’s mission—to empower decentralized infrastructure for a digital world—resonates strongly in today’s climate, where centralization risks remain a concern among core developers and long-term holders alike.
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With continued expansion from players like Bit Digital and growing adoption of U.S.-based pools, North America is solidifying its role as a hub for responsible, transparent, and scalable Bitcoin mining. This shift not only benefits individual companies but also reinforces the decentralization principles at the heart of cryptocurrency.