Foundry Makes Waves in Bitcoin Mining
In a stunning revelation, Foundry, a subsidiary of Digital Currency Group (DCG), has skyrocketed into the ranks of the top 10 largest Bitcoin mining pools worldwide. In a recent announcement, CEO Barry Silbert didn’t hold back: he’s predicting that this ambitious pool will soon catapult into the top five. Talk about aiming high!
Hash Rates and the Competition
Currently, Foundry boasts an impressive hash rate of 2.74 exahashes per second, which translates to about 1.85% of the global Bitcoin hash rate. For context, that’s like claiming a tiny slice of a Bitcoin pi that’s far larger than your dinner plate. Meanwhile, China’s F2Pool continues to flex its muscles as the largest miner, accounting for an astonishing 18% of the global hash rate at over 24 EH/s. Even Binance Pool, launched just a few years ago, is catching up, clocking in at 19.16 EH/s and holding almost 13% of the total market.
Opening the Doors for New Miners
What’s exciting for miners is that Silbert has announced plans for Foundry to open its doors to global Bitcoin miners starting this February. This means that if you’re feeling left out of the mining bonanza, now’s your chance to hop on the bandwagon! Silbert’s optimism is contagious, as he foresees Foundry becoming the largest U.S.-based Bitcoin mining pool in the near future. Fingers crossed for some American mining power!
The Ripple Effects of Mining Pools
As noted by various sources, F2Pool’s recent activities have raised eyebrows and may have contributed to a notable price dip in Bitcoin, with the cryptocurrency falling below $29,000 recently. It’s interesting how these powerhouses can influence market trends just by flexing their mining muscles.
Conclusion: A New Era for Foundry?
Founded in August 2020, Foundry is still playing catch-up to the forefathers of mining pools—but the clock is ticking, and the race has just begun. With ambitious plans and a growing reputation, Foundry is definitely a name to watch as it seeks to carve a significant niche in the wildly fluctuating world of cryptocurrency mining.
