Digital Currency Group Commits $100M to Boost Bitcoin Mining in North America

Digital Currency Group (DCG), a New York-based blockchain investment company, has today announced the launch of a new investment worth $100 million to accelerate Bitcoin mining operations in North America.

Standing alone as the most active investor in the blockchain industry and supporter of over 160 blockchain companies in not less than 30 countries around the globe, DCG made the lastest commitment through its subsidiary, Foundry.

As a DCG offshoot, Foundry is one of North America’s largest Bitcoin mining companies since its inauguration to bring institutional demand solutions to the Bitcoin mining industry through market efficiency, transparency, and capital assets.

Foundry CEO Mike Colyer believes the development is promising for the firm and North America in particular.

“We want to empower decentralized infrastructure in the new digital economy, and our work will support the development and growth of mining operations. 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,” he commented.

Per the announcement, DCG will be providing for the first time an opportunity for producers and miners to gain access to reliable capital resources and partners using the DCG network solution.

DCG CEO and founder Barry Silbert also commented on the newly launched project, saying,

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.

For Silbert, the bigger picture is in the growth of the mining industry as his company is determined to “accelerate the development of a better financial system.”

Earlier today, Coinfomania had reported major moves to aggregate Bitcoin mining capacity in the coming year as Riot Blockchain purchased next-generation Bitcoin mining specified at  S19 Pro Antminers (110 TH), worth of  $28. 7m.

See Also: The Ultimate Guide: How to Invest in Bitcoin Mining in 2020

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This article is Originally posted on CoinCentral.com
Author: Ruth Shadrac

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Author: Ruth Shadrac