Digital Currency Group’s crypto mining arm enters top 10 global mining pools

Foundry, a wholly owned cryptocurrency mining subsidiary of Digital Currency Group, or DCG, has entered the top 10 largest Bitcoin (BTC) mining pools in the world.

The firm’s CEO, Barry Silbert, announced the news on Tuesday, predicting that Foundry will soon break into the top five mining pools list.

At publishing time, Foundry has a total hash rate of 2.74 exahashes per second, according to data from block explorer BTC.com. The mining pool is responsible for 1.85% of the total global hash rate.


Source: Btc.com

The news comes shortly after Silbert announced that global Bitcoin miners will be able to join the Foundry pool starting in February. The CEO also expressed optimism about the United States’ mining power, predicting that Foundry will “soon become the largest U.S.-based bitcoin mining pool.”

Officially introduced by DCG in August 2020, Foundry is still far from the world’s top mining pools like F2Pool and Binance Pool in terms of hash rate. China-based F2Pool — the largest mining pool, comprising 18% of the total hash rate — is generating a hash rate of more than 24 EH/s at publishing time.

Launched by Binance in April 2020, Binance Pool is now the second-largest mining pool, responsible for nearly 13% of total global Bitcoin mining power. The pool’s hash rate amounts to 19.16 EH/s at publishing time.

As Cointelegraph reported on Friday, F2Pool’s activity was likely a major reason behind Bitcoin’s recent sell-off, resulting in its price dipping below $29,000.

Title: Digital Currency Group’s crypto mining arm enters top 10 global mining pools
Sourced From: cointelegraph.com/news/digital-currency-group-s-crypto-mining-arm-enters-top-10-global-mining-pools
Published Date: Tue, 26 Jan 2021 13:45:41 +0000

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Donna Burk

Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘Dailynewssheet.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami