The Digital Currency Group (DCG), which controls the Coindesk website and the billionaire Graycale fund, announced Thursday morning (27) that it will invest $ 100 million in the creation of a bitcoin mining company in the United States.
According to a press release, Foundry was created in 2019. It will offer "institutional expertise, capital and market intelligence for digital asset miners, providing them with the resources to build, maintain and protect decentralized networks".
The company's mission, the text says, is to meet the institutional demand for greater transparency in the bitcoin mining industry. Foundry will have financing lines for equipment purchases and claims to have helped buy half of the mining machines delivered to North America in 2020.
The company's partner in supplying the machinery is MicroBT, Bitmain's main rival.
In addition to Foundry, DCG is the parent of Grayscale Investments, the largest asset manager in the cryptocurrency industry; Genesis brokerage; and CoinDesk, the leading blockchain media and events company. In addition, DCG's arms extend as an investor to more than 160 companies worldwide.