Foundry Announces Foundry Logistics to Set New Industry Standards for Mining Hardware Deliveries

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Jul 28, 2022, 09:00 ET

Foundry Logistics provides first class services at competitive rates for crypto mining companies

ROCHESTER, N.Y., July 28, 2022 /PRNewswire/ -- Foundry Digital LLC ("Foundry"), a wholly-owned subsidiary of Digital Currency Group ("DCG") focused on digital asset mining and staking, today announced the launch of Foundry Logistics, a new arm that advances Foundry's mission to set high standards of transparency, efficiency and dependability in the cryptocurrency mining industry. Utilizing Foundry's industry relationships and new partnerships that span the globe, Foundry Logistics bridges the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining hardware deliveries.

Transit time and efficiency are of great significance in the cryptocurrency mining industry, where machines' profitability is dependent on a wide variety of factors, such as bitcoin price and the network's mining difficulty. This makes the timely delivery of ordered hardware critical to the operation of mining companies. On top of having to bear losses and extend budget if the devices don't arrive on time, buyers often do not even have a way to regularly track the progress of the ordered equipment in transit, making the process even less transparent and manageable. Foundry Logistics addresses these issues.

Through worldwide offices and a network of dedicated on-the-ground contacts for every order, Foundry Logistics ensures cost-effective and streamlined deliveries, providing clients with customs clearance, insurance guidance, ocean shipment solutions, national warehouse solutions and other domestic surface logistics. It also provides clients with end-to-end tracking and support from a single point of contact from manufacturer to delivery. In addition, clients can opt for Foundry Logistics' turnkey solutions that include purchasing of the hardware through the FoundryX marketplace and other whiteglove services that are tailored to each clients' operational needs.

"With Foundry Logistics we want to do exactly what Foundry has done with other business verticals: provide the increasing number of institutions in this maturing industry with products, services and resources that are at par with those that exist in older and more established industries," said MK Sathya, Senior Vice President of Infrastructure.

MK Sathya joined Foundry in December of 2021 and brings 25 years of experience establishing strategic global supply chain strategies, manufacturing and distribution operations for several PE portfolio companies such as Saxco International, LLC., Keystone Automotive Operations, Inc., and VWR International, Inc.

Just last week, Foundry announced the launch of Foundry Academy, which includes a one-week program to train technicians for the bitcoin mining industry. Registrations for the program are currently open.

Foundry Logistics is continually adding new routes and competitively-priced services to its portfolio in the ever-changing logistics landscape. To learn more about Foundry Logistics or request a quote, visit www.foundrydigital.com.

About Foundry

A subsidiary of DCG, Foundry was created to meet the institutional demand for better capital access, efficiency and transparency in the digital asset mining and staking industry. Headquartered in Rochester, NY, Foundry leverages its institutional expertise, capital and market intelligence to empower participants within the crypto ecosystem by providing the tools they need to build tomorrow's decentralized infrastructure. For more information, please visit foundrydigital.com.

SOURCE Foundry