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
Transition Industries Signs Strategic Agreements for the Pacifico Mexinol Project, the Largest Standalone Ultra-Low Carbon Chemical Production Facility in the World30.6.2025 21:30:00 EEST | Press release
Transition Industries LLC, a developer of world-scale, net-zero carbon emissions methanol and green hydrogen projects in North America, held a signing event for an Engineering, Procurement, and Construction (EPC) contract with the consortium of Samsung E&A Co., Ltd. (Samsung E&A), Grupo Samsung E&A Mexico, S.A. de C.V., and Techint Engineering and Construction for the Pacifico Mexinol project located in Ahome, Sinaloa, Mexico, which is contingent upon the fulfillment of customary conditions precedent and obtainment of all required approvals. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630940954/en/ MAIRE group’s technology division NextChem, through its subsidiary KT TECH SpA, also signed a Basic Engineering, Critical and Proprietary Equipment Supply Agreement with Samsung E&A in connection with its proprietary NX AdWinMethanol®Zero technology supply to the project. Transition Industries is jointly developing the Pacif
Westinghouse and ITER Sign a $180M Contract to Advance Nuclear Fusion30.6.2025 16:45:00 EEST | Press release
Westinghouse Electric Company and ITER signed a contract for $180 million for the assembly of the vacuum vessel for the fusion reactor. This is a key milestone in the construction of the ITER reactor, leading the way toward the use of fusion as a practical future source of reliable carbon-free energy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630497810/en/ The ITER Tokamak pit with the two vacuum vessel sector modules installed. Westinghouse has participated in the fabrication of the sectors of the vacuum vessel, as part of the Fusion for Energy (F4E) Consortium with its partners Ansaldo Nucleare and Walter Tosto. Westinghouse will be responsible for completing the vacuum vessel which is ITER’s most critical component: a hermetically sealed, double-walled steel container that will house the fusion plasma. When all the vacuum vessel sectors are in place, Westinghouse will start the most intensive stage of ITER assembl
Monetate Acquires SiteSpect to Deliver AI-Native Personalization and Testing at Enterprise Scale30.6.2025 16:00:00 EEST | Press release
Monetate, the leading AI-driven personalization platform, today announced it has acquired SiteSpect, a leader in A/B testing, to drive next-generation digital experience optimization. This acquisition accelerates Monetate’s vision to deliver intelligent, intentional, and individualized experiences at scale, powered by agentic AI and backed by the industry’s most advanced, enterprise-grade infrastructure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630514541/en/ The combination of Monetate’s real-time personalization and SiteSpect’s zero-flicker testing will yield an industry-first solution for enterprise-grade personalization, testing, and optimization. For the first time, global ecommerce and digital experience leaders can access unified client-side and server-side experimentation with full personalization capabilities in a single solution, designed for scalability and regulatory compliance. Monetate is now the only e
SS&C Blue Prism Recognized as a Gartner® Magic Quadrant™ RPA Leader for the Seventh Consecutive Year30.6.2025 16:00:00 EEST | Press release
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that SS&C Blue Prism has been recognized as a Leader in the 2025 Gartner Magic Quadrant for Robotic Process Automation (RPA). “We’re delighted SS&C Blue Prism has been named a Leader in the Gartner Magic Quadrant for Robotic Process Automation for the seventh year running,” said Bill Stone, CEO and Chairman of SS&C Technologies. “SS&C Blue Prism combines market-leading RPA and orchestration technologies with the latest artificial intelligence so organizations can tackle more complex tasks and dynamic business processes. We’ve scaled to more than 2,700 digital workers and AI agents across our own operations, resulting in over $200 million in annual savings. With SS&C leading the charge on deployment, customers can be confident in rolling out SS&C’s automation solutions securely, effectively, and responsibly.” More than 2,800 companies worldwide leverage SS&C Blue Prism for AI-powered automation, helping organizations delive
Takeda Announces U.S. FDA Approval of GAMMAGARD LIQUID ERC, the Only Ready-to-Use Liquid Immunoglobulin Therapy with Low Immunoglobulin A (IgA) Content 130.6.2025 15:00:00 EEST | Press release
Takeda(TSE:4502/NYSE:TAK) today announced that the U.S. Food and Drug Administration (FDA) has approved GAMMAGARD LIQUID ERC [immune globulin infusion (human)] with less than or equal to 2 µg/mL IgA in a 10% solution, the only ready-to-use liquid immunoglobulin (IG) therapy with low immunoglobulin A (IgA) content, as replacement therapy for people two years of age and older with primary immunodeficiency (PI). As a ready-to-use liquid, GAMMAGARD LIQUID ERC may help ease the administration burden for patients and their health care providers by eliminating the need for reconstitution and can be administered intravenously or subcutaneously.1 “The approval of GAMMAGARD LIQUID ERC reinforces our commitment to supporting individualized treatment approaches for people with primary immunodeficiency, including a therapeutic option that has the lowest IgA content of any ready-to-use liquid immunoglobulin therapy, and can be administered intravenously or subcutaneously,” said Kristina Allikmets, 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