In August 2019, Digital Currency Group (DCG), a leading force in the global cryptocurrency ecosystem, unveiled its newest subsidiary: Foundry. This strategic move marked DCG’s official entry into the Bitcoin mining and proof-of-stake (PoS) infrastructure space, signaling a growing institutional embrace of decentralized network support. With a commitment to invest over $100 million by 2021, Foundry was positioned from inception as a major player aimed at transforming how miners and staking participants access capital, equipment, and strategic guidance.
Foundry’s Mission: Empowering Decentralized Networks
Founded to address systemic challenges in the mining and staking industries—particularly around capital access, operational efficiency, and transparency—Foundry leverages DCG’s deep industry expertise, financial resources, and market intelligence. The company focuses on strengthening the backbone of blockchain networks by empowering miners and validators with the tools they need to scale sustainably.
Headquartered in North America, Foundry quickly established itself as a key enabler of mining operations across the region. According to reports from Business Wire, the firm has already provided tens of millions of dollars in equipment financing and facilitated the procurement of approximately half of all Bitcoin mining hardware delivered to North America in recent years. Today, it stands among the continent's largest mining operators by influence and infrastructure support.
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Core Services Offered by Foundry
Foundry delivers comprehensive solutions tailored for professional mining and staking participants through three primary service pillars:
- Equipment Financing and Procurement: Foundry offers flexible financing options for high-performance ASIC miners, enabling operators to scale without upfront capital constraints. It also negotiates bulk purchases directly with manufacturers, ensuring competitive pricing and timely delivery.
- Mining and Staking Operations Support: From setting up secure mining facilities to optimizing hashrate distribution and managing validator nodes, Foundry provides technical and operational guidance to maximize uptime and profitability.
- Strategic Consulting: Beyond hardware and funding, Foundry advises clients on energy sourcing, regulatory engagement, and long-term network participation strategies. It actively collaborates with energy providers and policymakers to promote sustainable mining practices.
“Foundry exists to strengthen decentralized infrastructure,” said Mike Colyer, CEO of Foundry. “We’re committed to supporting the growth of mining businesses, especially here in North America, where we see tremendous potential for innovation and scalability.”
Strategic Partnerships Driving Growth
Foundry has forged strong alliances with leading hardware manufacturers, including Bitmain and MicroBT (maker of Whatsminer devices). These partnerships are instrumental in securing early access to next-generation mining rigs and expanding market reach.
MicroBT reported a significant uptick in overseas orders, with nearly 40% now coming from North America and Europe. Meanwhile, major U.S.-based mining firms such as Core Scientific, Marathon Digital Holdings, and Riot Blockchain have placed large-scale orders for new equipment—further evidence of rising institutional interest in domestic mining operations.
These developments reflect a broader geographic shift in global hash rate distribution. While China remains a dominant force in Bitcoin mining, its share has gradually declined due to regulatory pressures and energy policy changes.
Global Hash Rate Trends: A Shift Toward Decentralization
Data from TokenView shows that Bitcoin’s total network hashrate has not only recovered but surpassed pre-halving levels, underscoring robust miner confidence and continued investment in infrastructure. Over the long term, the trend remains upward—indicating sustained growth in network security and decentralization.
According to research from the Cambridge Centre for Alternative Finance, China’s share of global Bitcoin mining dropped from 75.62% in September 2019 to 65.08% by April 2020. During the same period, the United States saw its share grow from 4.06% to 7.24%, highlighting North America’s emergence as a key mining hub.
This shift is driven by several factors:
- Favorable energy costs in regions like Texas and upstate New York
- Increasing institutional adoption of Bitcoin
- Regulatory clarity compared to more restrictive jurisdictions
As more enterprises enter the space, companies like Foundry play a critical role in bridging traditional finance with decentralized infrastructure.
DCG’s Expanding Ecosystem
Digital Currency Group, founded by Barry Silbert in 2015, has grown into one of the most influential organizations in the blockchain industry. Based in New York City, DCG has invested in over 160 companies worldwide and operates several high-profile subsidiaries:
- Grayscale Investments: The world’s largest digital asset manager, known for its Bitcoin Trust (GBTC).
- Genesis Global Capital: A leading crypto prime brokerage offering lending, trading, and custody services.
- CoinDesk: A premier media outlet covering blockchain innovation and market trends.
With Foundry, DCG completes its vertical integration across the crypto value chain—from media and investment to trading and now infrastructure. As DCG’s first wholly owned subsidiary focused on mining and staking, Foundry represents a strategic bet on the long-term importance of decentralized consensus mechanisms.
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Is Bitcoin Mining Still Profitable?
Despite periodic skepticism about energy use and environmental impact, Bitcoin mining continues to attract institutional capital. Rising asset prices, advancements in energy-efficient hardware, and increasing demand for secure transaction validation make mining an increasingly viable business model.
Foundry’s entry into this space underscores a key insight: mining is no longer just a niche activity for tech enthusiasts—it’s becoming a core component of digital finance infrastructure.
By lowering barriers to entry through financing and expert support, Foundry enables more participants to contribute to network security while generating sustainable returns.
Frequently Asked Questions (FAQ)
Q: What is Foundry’s relationship with DCG?
A: Foundry is a wholly owned subsidiary of Digital Currency Group (DCG). It operates independently but benefits from DCG’s capital, network, and strategic resources.
Q: Does Foundry mine Bitcoin itself?
A: Yes. In addition to providing services, Foundry runs its own mining operations and participates directly in securing the Bitcoin network.
Q: Who can use Foundry’s services?
A: Foundry primarily serves institutional clients, including mining companies, staking providers, hardware manufacturers, and energy partners.
Q: How does Foundry support sustainable mining?
A: It prioritizes partnerships with renewable energy providers and advocates for responsible energy use in mining operations.
Q: Is Foundry active outside North America?
A: While focused on North America, Foundry works with global manufacturers and supports international clients involved in large-scale mining or staking projects.
Q: Why did DCG launch Foundry now?
A: After years of observing market dynamics—including shifting hash rate geography and growing institutional demand—DCG identified a need for trusted infrastructure support in mining and staking.
The launch of Foundry marks a pivotal moment in the maturation of the cryptocurrency industry. As decentralized networks grow more complex, entities that provide reliable infrastructure will become increasingly vital. With strong backing, clear vision, and deep expertise, Foundry is well-positioned to help shape the future of blockchain consensus—one block at a time.
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