Foundry Opens Its Mining Pool to Large Institutional Clients as Blockcap Onboards with 10,000 Machines
Blockcap has added over 0.9 exahashes of bitcoin mining compute power to Foundry USA Pool, which has now started to onboard institutional mining businesses.
ROCHESTER, NEW YORK, USA, March 11, 2021 /EINPresswire.com/ — Blockcap, Inc., one of the largest bitcoin mining companies in North America, and Foundry Digital LLC, a wholly-owned subsidiary of Digital Currency Group (DCG) focused on digital asset mining and staking, jointly announced that Blockcap is now mining Bitcoin on Foundry USA Pool with approximately 10,000 latest generation mining machines generating over 0.91 exahashes of compute power.
Additionally, Foundry USA Pool announced that it is now open to all institutional businesses willing to mine Bitcoin or Bitcoin Cash, guaranteeing its clients some of the most competitive payouts in the industry along with institutional-level standards of transparency and services.
Since Foundry USA Pool’s private beta launch in October 2020, Foundry has been one of its biggest customers. With Blockcap’s addition, it is now a step closer to its ultimate aim of securing a spot among the top 5 pools, which has historically been dominated by strictly China-based pools. Backed by its parent company DCG, it is the first North American cryptocurrency mining pool that pays its users through the Full-Pay-Per-Share (“FPPS”) payout method without relying on an external party, guaranteeing stable, risk-free payouts.
Foundry USA Pool is focused on institutional mining businesses and is seamlessly integrated with DCG-owned cryptocurrency prime broker Genesis to provide users with various treasury management services, including high-security custody, Bitcoin collateralized lending, yield earnings on BTC holdings, derivative products and seamless liquidation.
“Mining on a pool that is made and based completely in the US, and offers institutional miners payouts at par with the world’s biggest pools was an obvious choice on our mission to make North America a global hub for digital-asset mining,” said Darin Feinstein, Blockcap’s Executive Chairman.
Founded in 2020 by cryptocurrency mining industry veterans, Blockcap has quickly become one of the largest bitcoin mining and blockchain technology companies in North America. It has a fleet of roughly 10,000 latest-generation bitcoin mining machines and has recently announced purchases of an additional 18,400 latest generation bitcoin mining machines from Bitmain and Canaan, the world’s leading manufacturers of cryptocurrency mining machines. Once those machines are delivered and deployed later in 2021, Blockcap’s total bitcoin mining compute-power will be thrice of what it was six months ago. Consequently, the addition of new computing power will further strengthen Foundry USA Pool’s position among the world’s top bitcoin mining pools.
“We are excited to have Blockcap as the first big customer of our mining pool and look forward to providing our pool’s users with a new mining experience that has been tailor-made to fit the needs of institutional mining companies – from compliance and security to just ease-of-use when operating an industrial scale mining operation,” said Mike Colyer, CEO of Foundry.
Blockcap was founded in 2020 by blockchain industry veterans who have successfully structured or co-founded other large technology companies including the largest blockchain infrastructure company in the United States, Core Scientific, Inc. Blockcap had approximately 1 Exahash of processing power by the end of fiscal 2020, representing approximately 0.75% of the hashing power of the entire BTC global network at the time.
A subsidiary of DCG, Foundry is a financing and advisory company focused on digital asset mining and staking. With the mission of empowering decentralized infrastructure for a digital world, Foundry provides North American digital asset mining businesses with capital and intelligence. Foundry is based in Rochester, NY. For more information, please visit foundrydigital.com
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