Hut 8 Mining Corp., a Canada-based publically-traded Bitcoin mining company, has joined forces with Foundry Digital LLC, a wholly-owned subsidiary of Digital Currency Group (DCG) focused on digital asset mining and staking. With this, Hut 8 Mining is now mining on Foundry USA Pool along with Blockcap and Foundry Digital itself.
According to an announcement made on Tuesday, March 23, Hut 8 has added 14,400 machines to Foundry’s mining pool and also has plans to deploy another 5,000 miners by August. This means that Hut 8 has added over 0.81 Exahashes of computing power to Foundry USA Pool. After the addition of 5,000 mining rigs, Hut 8’s compute power generated on Foundry USA Pool will amount to over 1.20 exahashes.
Hut 8 Mining is one of North America’s oldest, largest, and most innovative bitcoin miners in the world. The company is listed on Toronto Stock Exchange (TSX: HUT) and has the highest amount of self-mined Bitcoin of any publicly-traded company globally.
Foundry Digital, based in New York, is a wholly-owned subsidiary of Digital Currency Group (DCG) focused on digital asset mining and staking. Foundry provides North American digital asset mining businesses with capital and intelligence. Foundry USA Pool is a mining pool of the company that brings together large Bitcoin mining operators and offers them Miner Treasury Management Services, an additional set of services that derive from the pool’s seamless integration with DCG-subsidiary Genesis.
These services allow mining customers to generate yield in Bitcoin (BTC) on the mined BTC, thus maximizing the overall BTC mining yield. Other services include custody, BTC collateralized lending, derivative products, and seamless liquidation.
According to the announcement, services offered by Foundry USA Pool are necessary to cater to the needs of large mining customers such as Hut 8 Mining. Hut 8 is the latest mining company to start mining on Foundry USA Pool along with Blockcap, which, on March 11, added 10,000 latest generation mining machines generating over 0.91 exahashes of computing power to Foundry USA Pool.
Jaime Leverton, CEO of Hut 8, commented:
“We are focused on growing shareholder value, in every decision we make. Having a formidable bitcoin mining pool based and operated entirely in North America is important to us, as we continue our momentum as one of the largest and most innovative Bitcoin miners in the western hemisphere.”
Mike Colyer, CEO of Foundry, stated:
“We enjoy working with Hut 8’s team, which is also a client of our equipment financing business. We are pleased to welcome them to our pool as we work towards securing North America’s place among the world’s top-5 bitcoin mining pools.”
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