DCG Enters into Bitcoin Mining with Newest Subsidiary: Foundry
Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, today announced a new wholly-owned subsidiary: Foundry. Quietly formed in 2019, Foundry offers institutional expertise, capital, and market intelligence to digital asset miners and manufacturers, providing them with the resources to build, maintain, and secure decentralized networks. Mike Colyer, a former Core Scientific executive, was tapped to be Foundry’s Chief Executive Officer.
Foundry was created to meet the institutional demand for improved capital access, market efficiency, and transparency in the bitcoin mining industry. The company currently offers three services for the mining ecosystem: equipment financing and procurement; mining and staking; and consulting and advisory services.
Since its inception, Foundry has already emerged as one of the largest bitcoin miners in North America. It has also extended tens of millions of dollars in equipment financing to other mining organizations and helped to procure approximately half of the bitcoin mining equipment delivered in North America this year.
“We want to empower decentralized infrastructure in the new digital economy, and our work will support the development and growth of mining operations — particularly in North America,” said Mike Colyer, CEO of Foundry. “We are a business built by miners for miners, and we are partnering with entrepreneurs who share our mission of advancing the industry and creating a decentralized mining ecosystem.”
DCG has committed to invest more than $100 million into Foundry through 2021. For the first time, miners and manufacturers can access trusted partners and capital resources through the powerful DCG network.
“Our mission at DCG is to accelerate the development of a better financial system,” said Barry Silbert, Founder and CEO of DCG. “Digital asset mining and staking provide the backbone of the blockchain technology that will drive that advancement. Foundry is bringing critical resources and guidance to an essential corner of the industry, and Mike Colyer and his team have the expertise, credibility, and integrity to support the evolving needs of miners and manufacturers.”
Foundry is focused on partnering with key players in the mining and staking industry with the goal of creating greater access to digital asset mining, decentralizing geographic opportunity, and bringing more legitimacy and transparency to the bitcoin mining ecosystem. In addition, Foundry expects to work closely with energy companies and governments to help formulate and execute their mining strategies.
“Foundry’s understanding of the mining industry and DCG’s full support have made it a key partner in our expansion across North America in the past year. We plan to continue collaborating with Foundry as we focus on increasing our global market share,” said Jordan Chen, COO of Shenzhen-based bitcoin miner manufacturer MicroBT.
“Through Foundry’s work and financial support of our end customers, we have been able to ship a significant number of machines into the US this year,” said Su Ke, Global Sales and Marketing Director of Antminer at Bitmain. “Foundry’s institutional grade services for North American businesses and its team’s expertise have played a key role in making this happen. We look forward to working closely with Foundry to reach even more customers and provide an even better experience to them.”
In addition to Foundry, DCG is the parent company of Grayscale Investments, the largest asset manager in the digital currency industry, Genesis, the world's first full-service digital currency prime broker, and CoinDesk, the leading blockchain industry media and events company. DCG is also an investor in more than 160 companies around the world.
Colyer and his team are based in Rochester, New York.
About Foundry
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.
About DCG
Founded in 2015 by Barry Silbert, Digital Currency Group is a global enterprise that builds, buys, and invests in blockchain companies all over the world. As the most active investor in the blockchain space, DCG sits at the epicenter of the blockchain industry, backing more than 160 companies in 30+ countries. In addition to its investment portfolio, DCG is the parent company of Grayscale Investments, Genesis, CoinDesk, and Foundry.
DCG is based in New York City. For more information, please visit dcg.co.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200827005146/en/
Contact information
Media
Mark Murphy
press@dcg.co
media@foundrydigital.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ant International and HSBC Test New Cross-Border Payments Solution Using Tokenised Deposits on Swift’s Network and Powered by ISO 2002211.12.2025 05:00:00 EET | Press release
Ant International, HSBC and Swift today have completed a successful Proof of Concept (POC) for the cross-border transfer of tokenised deposits using ISO 20022 standards. The initiative leverages Swift’s global messaging network and HSBC’s recently launched Tokenised Deposit Service, combined with Ant International’s blockchain technology. The POC marks a key milestone in Ant International, HSBC, and Swift’s efforts to help businesses unlock the full benefits of tokenisation for enhanced liquidity, programmable finance, and 24/7 real-time settlement. As part of this initiative, Ant International and HSBC successfully integrated Ant International’s in-house blockchain infrastructure with Swift’s networks, enabling real-time treasury management across borders through HSBC Singapore and Hong Kong, via HSBC’s Tokenised Deposit Service. With the introduction of a common protocol co-built with Swift and HSBC, this could remove the need for Ant International to establish individual bilateral a
Canva Unveils 2026 Design Trends: The Year of ‘Imperfect by Design’11.12.2025 00:52:00 EET | Press release
Canva, the world’s leading all-in-one visual communication platform, today unveiled its third annual Design Trends Report with bold predictions for creativity, social media and brand content in 2026. The company also unveiled a “Design DNA” feature, which offers Canva users a custom recap that celebrates their creative output in 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251210696597/en/ Canva Design DNA Trends from Creators, for Creators By analyzing design and search activity, expert insights from the Canva Designer Advisory Board, and a survey of 1,000 creators across the U.S. and Brazil, Canva has identified 10 design trends that will shape creative and design culture in 2026. The findings paint a clear picture: as creators embrace AI’s power, they also crave the human touches that make design feel personal. A New Creative Standard: Imperfect by Design As AI technology raises the baseline for what's possible, v
Audiencerate Achieves Google Customer Match Partner Status, strengthening its role as a Global Data Provider10.12.2025 23:40:00 EET | Press release
Audiencerate, an international technology company specializing in data activation solutions and platforms within the AdTech and MarTech sectors, has been officially awarded by Google as a Customer Match Upload Partner. This certification is granted to a restricted number of global operators (https://support.google.com/google-ads/answer/7361372?hl=en) authorized to manage and onboard first-party data into the Google Ads and DV360 ecosystem. The company strengthen its strategic partnership with Google by adding the Customer Match Upload Partner accreditation to its existing status as a certified Google Data Provider. This new credential enables Audiencerate to seamlessly integrate proprietary audience segments and data into Google’s advertising platforms. The combination of these two accreditations represents an exceptionalsituation in the international landscape and solidifies Audiencerate's position in the digital advertising market, which is increasingly reliant on first-party data. T
Defence, Security and Resilience Bank (DSRB) Development Group – Official Statement10.12.2025 22:06:00 EET | Press release
On 8 September 2025, the Defence, Security and Resilience Bank (DSRB) Development Group convened a high-level meeting in the City of London with representatives from 37 nations, including all G7 members, alongside the European Commission, NATO, European Parliament, Global Banks, and Ratings Agencies to discuss the DSRB. A number of countries have now indicated their intention to begin the formal steps required to bring the DSRB into existence. This phased pattern of engagement is standard in the creation of international financial institutions, which typically begin with a core group of anchor nations and expand as additional members join through charter negotiations and subsequent capital rounds. The DSRB is designed to complement the European Union’s SAFE initiative, offering a broader multilateral platform that brings together NATO and Indo-Pacific nations and mobilises global capital to build the balance-sheet capacity required to finance nations’ defence spending and long-term res
ClickUp 4.0's Craft & Quality is Available Today, Maximizing Human Productivity10.12.2025 20:26:00 EET | Press release
ClickUp today announced the launch of ClickUp 4.0, a groundbreaking release designed to end the chaos of work sprawl and usher in a new era of work. With a bold vision for the convergence of software, people, and AI, ClickUp 4.0 delivers a suite of powerful new features that empower teams to do their best work in one converged workspace. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251210712132/en/ A new era of ClickUp For years, organizations have struggled with fragmented workflows, siloed tools, and the constant friction of context switching. ClickUp 4.0 is the answer: a single, beautifully crafted workspace that brings together tasks, docs, goals, chat, and AI-powered automation. The result is a platform that not only saves time but also sparks creativity and collaboration at every level. “Software is converging - we always knew it would. And it's about time, because work sprawl is the silent killer of productivity," s
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom