Bitmain and Foundry: A Dynamic Duo
In a bold move to enhance its foothold in North America, Bitmain has announced its partnership with Foundry, a subsidiary of Digital Currency Group. This collaboration, disclosed on September 10, aims to pave the way for streamlined operations and improved financing opportunities for crypto miners across the continent.
The Financing Gap in Crypto Mining
Owning a fleet of shiny new mining machines is cool, but financing those bad boys? That’s a real pickle. Bitmain has pointed out that securing funding is tougher for crypto miners compared to other industries. Thanks to Foundry, miners can expect a smoother ride when it comes to financing, making it easier for them to scale operations and buy those hefty ASIC miners.
Helping Hands: Foundry’s Role
Foundry won’t just be a silent partner; they plan to help ship a significant number of Bitmain machines to North America this year. According to Su Ke, Bitmain’s global sales and marketing director, this partnership could significantly enhance the current mining landscape. With Foundry’s support, the opportunities for miners look brighter than ever.
The Power of Established Partnerships
This recent announcement follows right on the heels of Foundry’s own unveiling by DCG, which happened in late August. As a key player in the crypto space since its 2019 inception, Foundry has gained a reputation for providing capital and strategic insights to miners. They aren’t just a funding source; they’ve also become a major player in the North American Bitcoin mining scene, reportedly procuring nearly half of the region’s Bitcoin mining resources in 2020.
Breaking Barriers Together
As Bitmain and Foundry join forces, they aim not only to enable miners to overcome financial hurdles but also to reinforce the entire mining ecosystem. According to Bitmain, this partnership could “break down barriers to entry and growth” for mining businesses, demonstrating that collaboration can be a game-changer in the aggressive world of cryptocurrency mining.
