Bit Digital, Inc. (Nasdaq: BTBT), a leading Nasdaq-listed Bitcoin mining company based in New York, has partnered with Foundry Digital LLC to mine Bitcoin through the Foundry USA Pool. This collaboration adds approximately 5,679 mining machines capable of generating up to 280 PH/s of computing power to the pool.
Key Highlights of the Partnership
- Enhanced Mining Capacity: Bit Digital's contribution strengthens Foundry USA Pool's position as a competitive player in global Bitcoin mining.
- Institutional Focus: Foundry USA Pool caters specifically to institutional miners, offering stable payouts via the Full-Pay-Per-Share (FPPS) method.
- Integrated Services: The pool integrates with Genesis Global Trading Inc. (a DCG subsidiary) to provide treasury management solutions, including custody, lending, and yield services.
Foundry's Vision and Growth
Backed by Digital Currency Group (DCG), Foundry aims to secure a spot among the top 5 Bitcoin mining pools worldwide. The addition of Bit Digital accelerates this goal, reinforcing Foundry's commitment to decentralizing Bitcoin's mining network.
"We are pleased to join Foundry USA Pool, which meets the institutional needs of publicly traded companies like ours," said Bryan Bullett, CEO of Bit Digital.
Bit Digital's Mining Achievements
Since launching its Bitcoin mining operations in February 2020, Bit Digital has rapidly scaled its capacity:
- Q1 2021 Production: Mined 1,013.4 bitcoins.
- Total Mining Machines: 40,965 as of March 31, 2021, with a combined hash rate of 2,264.5 PH/s.
Foundry USA Pool's Major Clients
Other notable participants in Foundry USA Pool include:
- BitDeer
- Bitfarms
- Blockcap
- Hut 8
- Foundry itself
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About Bit Digital
Bit Digital, Inc. is a New York-based Bitcoin mining company with operations in the U.S., Canada, and China. It boasts one of the highest hash rates among U.S.-listed miners.
Learn More: Bit Digital Official Website
About Foundry
A subsidiary of DCG, Foundry provides financing and advisory services for digital asset mining and staking. Headquartered in Rochester, NY, it supports North American miners with capital and strategic insights.
Visit: Foundry Digital
FAQ Section
Q: What payout method does Foundry USA Pool use?
A: The pool employs the Full-Pay-Per-Share (FPPS) method, ensuring stable and risk-free payouts.
Q: How does Bit Digital benefit from joining Foundry USA Pool?
A: The partnership offers institutional-grade services, including treasury management and competitive payouts.
Q: What is Bit Digital's current mining capacity?
A: As of March 2021, Bit Digital operates 40,965 mining machines with a total hash rate of 2,264.5 PH/s.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency mining involves risks, including market volatility and regulatory changes.
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