Foundry, a subsidiary of Digital Currency Group, recently announced the spin-off of its mining division, Fortitude Mining. This move comes as no surprise, as Foundry has been steadily expanding its operations and investing in new mining facilities. However, even with the spin-off, Foundry remains the largest Bitcoin mining pool, controlling over 30% of the network’s hashrate.

The decision to spin off Fortitude Mining was made in order to allow Foundry to focus on its core business of providing institutional mining services. With the increasing demand for Bitcoin mining, Foundry has been actively investing in new facilities and expanding its operations. This has allowed them to maintain their position as the leading mining pool, despite the spin-off.

One of the key factors contributing to Foundry’s success is its state-of-the-art mining infrastructure. The company has strategically located its facilities in areas with low energy costs, allowing them to operate at a lower cost than their competitors. This, combined with their advanced mining equipment, has enabled Foundry to maintain a competitive edge in the industry.

In addition to their mining operations, Foundry also offers a range of services to institutional clients, including hosting, financing, and equipment procurement. This has made them a one-stop-shop for institutions looking to enter the Bitcoin mining space. With the recent surge in Bitcoin’s price, more and more institutions are looking to get involved in mining, and Foundry is well-positioned to cater to this growing demand.

Despite the spin-off of Fortitude Mining, Foundry remains committed to supporting the Bitcoin network and contributing to its security and decentralization. As the largest mining pool, they play a crucial role in maintaining the network’s stability and ensuring its continued success. With their continued growth and investment in the industry, Foundry is set to remain a dominant force in the world of Bitcoin mining.