Foundry Opens Bitcoin Mining Machine Marketplace

Foundry Digital said on Wednesday that it has established Foundryx, a bitcoin mining equipment marketplace.The company claims to have access to over 40,000 mining rigs that are ready for selling. Aside from the marketplace debut, Foundry USA, the company’s mining operation, has become the world’s largest bitcoin miner in terms of hashrate.

Digital Currency Group (DCG) stated at the end of August 2020 that it has pledged $100 million to Foundry, a cryptocurrency mining startup. The company was secretly created in 2019, and it has achieved great progress in the bitcoin mining market since then.

Foundry, a subsidiary of DCG, supplies digital asset miners with machines, funding, consultancy, and information. The firm also runs a mining pool which has 16.5% of the global hashrate or 29.83 exahash per second (EH/s) of hashpower as of December 8, 2021.

The company has been a top pool for the last several months, constantly occupying a position in the top five mining pools internationally.

Customers receive access to the company’s inventory and price through the marketplace, which connects buyers and sellers of bitcoin mining rigs. According to the business, it has acquired around 40,000 computers from Microbt and Bitmain that would be delivered in 2022.

Foundryx clients may also use the company’s enterprise-grade goods, including as finance, shipping, logistics, and pooled mining, through Foundry USA, the company’s mining pool.

As the sector is plagued with issues such as semiconductor chip shortages and supply chain issues, the company explains that the company’s goal is to make the process of purchasing miners easier. Furthermore, some resellers ask large deposits to obtain high-quality computers. The company said:

“Foundry solves these problems by providing buyers and sellers with a trusted and reliable U.S.-based secondary market for mining machines,”

The firm’s marketplace comes on the heels of the company’s launch of a number of services for 20 crypto staking networks. This year, the company has also collaborated with a number of bitcoin mining enterprises, including Greenidge Generation Holdings, Bitfams, Hut8, Cleanspark, Core Scientific, Compute North, Bit Digital, Bitdeer, and Hive.

Patrick

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