DCG said that by 2021 it will invest more than US$100 million in its subsidiary Foundry, which will provide equipment financing and procurement, mining and equity pledge services.
The American cryptocurrency industry giant Digital Currency Group announced the establishment of a new wholly-owned subsidiary Foundry . DCG stated that Foundry was quietly established in 2019 to provide digital asset miners and manufacturers with institutional-level expertise, capital and market intelligence , To provide resources for building, maintaining and protecting decentralized networks. Former Core Scientific executive Mike Colyer (Mike Colyer) was appointed as Foundry’s CEO.
DCG stated that Foundry was created to meet institutional needs to improve Bitcoin mining’s capital access, market efficiency and transparency issues. The company currently provides three services for the mining ecosystem: equipment financing and procurement; mining and equity pledge services; and consulting services.
Foundry claims that it has become one of the largest Bitcoin miners in North America since its inception, and provided tens of millions of dollars in equipment financing to other mining institutions, helping to purchase about half of the Bitcoin mining equipment delivered in North America this year.
Mike Colyer , CEO of Foundry, said: “We hope to enhance the decentralized infrastructure in the new digital economy. Our work will support the development and growth of the mining business-especially in North America. We are a company owned by miners. For enterprises built for miners, we cooperate with entrepreneurs, and we jointly shoulder the mission of promoting industry development and building a decentralized mining industry ecology.”
Foundry CEO Mike Colyer and his team are located in Rochester, New York
DCG said it promised to invest more than US$100 million in Foundry by 2021. Miners and mining machine manufacturers can obtain reliable partners and capital resources through DCG’s resource network.
• DCG founder and CEO Barry Hilbert (Barry Silbert) said: “DCG’s mission is to accelerate the development of a better financial system digital assets and mining rights of pledge provides the backbone of the block chain technology. This progress will be promoted. Foundry has brought vital resources and guidance to every important corner of the industry. Mike Colyer and his team have the expertise, reputation and integrity to meet the changing needs of miners and mining machine manufacturers. .”
Foundry will promote the cooperation of major participants in mining and equity pledge. The goal is to create more opportunities for the digital asset mining industry to participate in digital asset mining, diversify geographical opportunities, and bring more legitimacy and transparency to the Bitcoin mining ecosystem. In addition, Foundry said it hopes to work closely with energy companies and the government to help formulate and execute its mining strategy.
“In the past year, Foundry understanding and full support for the mining of DCG makes it a key partner for our expansion in North America.” Bitcoin mining company Shenzhen-bit micro-EASTERN Chief Operating Officer, said: “We plan to continue to work with Foundry, to Increase our global market share.”
“Foundry work by the end customer and financial support, this year we have been able to transport a large mining machines to the United States’ global sales and marketing director bit continent ant mine machine Suke said. “The institutional-level services provided by Foundry to North American companies and the expertise of their teams have played a key role in achieving this goal. We look forward to working closely with Foundry to reach more customers and provide them with a better experience. ”
Digital currency group DCG (full name Digital Currency Group) was founded by Barry Silbert in 2015 and headquartered in New York City. It is a global company that establishes, acquires and invests in blockchain companies worldwide . As the most active investment company in the blockchain field, DCG is located at the center of the blockchain industry and supports more than 160 companies in more than 30 countries.
In addition to Foundry, DCG is also the largest asset management company Grayscale Investments in the digital currency industry, the world’s first full-service digital currency prime broker Genesis and the parent company of CoinDesk, a leading blockchain industry media and event company. DCG has invested in more than 160 companies worldwide.
As a subsidiary of DCG, Foundry is a consulting company focusing on digital asset mining and equity pledge. Headquartered in Rochester, New York, the goal is to empower decentralized infrastructure for the digital world and provide digital asset mining business in North America. Capital and market intelligence.
Source link: foundrydigital.com
