Largest Bitcoin miner sets up mining rig marketplace

Foundry USA has become the largest bitcoin miner on the planet by hashrate. Owned by US based Digital Currency Group (DCG), it also announced that it would be creating a bitcoin mining rig marketplace under the name of Foundryx.

Whilst China was divesting itself of the majority of all its bitcoin mining capability, Foundry was taking up the slack and has recently attained 17.85% of the hashrate, putting it in first position as the world’s largest mining pool.

The subsidiary of DCG has begun to consistently maintain its place among the top 5 mining pools across the world and has been at this level for the past 2 months.

On Wednesday, it announced the launch of a new company called Foundryx. It will hope to dominate the market on bitcoin mining rigs, and will match up buyers and sellers.

Looking ahead, the company has said that it has secured 40,000 mining machines from Microbt and Bitmain. According to Bitcoin.com, these are to be delivered in 2022.

With the current dearth of semiconductor chips, a market has opened up for the speedy selling and procurement of bitcoin mining rigs. Foundry aims to fill this niche in the market and believes that a reliable US-based company can do the job.

According to Jeff Burkey, VP of business development at Foundry:

“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,” 

Foundry is also looking to provide capital, consulting services, and data to miners in the digital asset space. It has partnered with several big players in the mining operations space, such as Greenidge Generation Holdings, Bitfams, Cleanspark, Core Scientific, Hut8, Bit Digital, Compute North, Hive, and Bitdeer.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.