Foundry Digital Launches Logistics Arm to Advance Standards in the Cryptocurrency Mining Industry – Mining Bitcoin News

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Foundry Digital Launches Logistics Arm to Advance Standards in the Cryptocurrency Mining Industry – Mining Bitcoin News
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On Thursday, Foundry Digital LLC, a mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics to advance standards in the cryptocurrency mining industry. The company’s newly formed division plans to “bridge the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining hardware delivery”.

DCG Company Foundry establishes mining logistics division

Foundry, a crypto mining, staking company and DCG company, announced the formation of a new company called Foundry Logistics. Following the company’s launch of its staking service in mid-November last year, the new mining logistics division launched Foundry’s mining machine marketplace next month. Foundry Logistics aims to improve and set “high standards for transparency, efficiency and reliability in the cryptocurrency mining industry”.

Foundry Logistics leverages global offices and field connections to support “cost-effective and streamlined delivery” in the crypto mining industry. The company provides “customs clearance, insurance guidance, shipping solutions, national warehouse solutions and other domestic land logistics” for customers. Foundry Logistics customers also have access to the company’s mining rig marketplace, Foundryx, and other services offered by the crypto business.

“We want to do with Foundry Logistics what Foundry has done in other business verticals: provide more and more institutions in this mature industry with the same products, services and resources as older and more mature industries,” Foundry Logistics Infrastructure Senior Vice President MK Sathya said in a statement to Bitcoin.com News.

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Foundry Logistics launch follows company’s School of Mines

The New York-based company’s mining pool Foundry USA is also the top mining pool in terms of BTC’s three-day global hash rate percentage. Over the past three days, Foundry has captured 18.55% of the Bitcoin network’s global hashrate, which equates to 38.42 exahash per second (EH/s). The 13 mining pools collectively found 469 blocks, while Foundry found 87 block rewards. Year-to-date statistics show that Foundry USA is the top mining pool with 16.16% of the global hashrate in 12 months. Of the 53,864 block rewards discovered in the past year, Foundry USA discovered 8,705 blocks.

The launch of Foundry Logistics follows the company’s July 19 launch of the Foundry Academy. The academy offers a week-long program to train technicians so they can get involved in the Bitcoin mining industry. Foundry Academy detailed that registration for the course is open as the first session of the program ends in May. Foundry’s academic programs take place at its mining facility in Rochester, New York.

tags in this story

ASIC Miner, Bitcoin Miner, Bitcoin Mining, Bitmain, BTC Mining, Computing North, Crypto Mining Logistics, Foundry, Foundry Academy, Foundry Logistics, Foundry USA, Foundryx, Logistics, Mining, Miners, Mining Pools, MK Sathya, Secondary market, semiconductor chips, pledge, supply chain

What do you think of the newly launched Foundry Logistics? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News for Bitcoin.com News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,700 articles for Bitcoin.com News on the disruptive protocols emerging today.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.

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