Foundry Launches FoundryX, a Marketplace to Match Buyers and Sellers of Bitcoin Mining Machines, Completing Over $125M in Sales in 2021

Foundry currently has access to over 40,000 machines ready for resale

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Dec 08, 2021, 09:00 ET

ROCHESTER, NY, Dec. 8, 2021 /PRNewswire/ -- Foundry Digital LLC ("Foundry") today announced the launch of FoundryX, a marketplace that matches buyers and sellers of bitcoin mining machines. Buyers and sellers will have access to Foundry's robust business intelligence on inventory, pricing, and demand. Foundry has built relationships with 200+ buyers and sellers, including public mining companies, family offices, and energy companies. Working with the major manufacturers and a network of resellers, Foundry has secured over 40,000 of the latest generation machines from both MicroBT and Bitmain, for immediate delivery through 2022.

Foundry's clients can also request additional enterprise-grade services provided by Foundry, which include financing, shipping, logistics, and pooled mining through Foundry USA Pool — North America's top mining pool.

Global semiconductor chips shortage and supply chain issues have made it difficult for North American mining businesses to procure machines from Asia on time. There has also been a sudden influx of new resellers (some of whom are based in Asia) that require significant wire deposits to reserve machines, which has made the process even more challenging. Foundry solves these problems by providing buyers and sellers with a trusted and reliable US-based secondary market for mining machines.

Founded by DCG in late 2019, Foundry has emerged as a leader in the global cryptocurrency mining industry, establishing the world's largest US-based bitcoin mining pool, and deploying more than $400M into North America's mining industry. Foundry's clients include Bit Digital, BitDeer, Bitfarms, CleanSpark, Core Scientific, Compute North, Greenidge, HIVE, Hut 8, and most of the publicly traded or institutional mining companies in North America.

"With the industry's leading clients and partners, from machine manufacturers to mining companies, we have the market knowledge and data to match the right buyers and sellers, at the right price," said Jeff Burkey, VP of Business Development at Foundry. "But most importantly, buyers and sellers can confidently proceed knowing that Foundry has a proven track record like no other in the industry."

"It has been our pleasure working with Foundry to recently purchase machines for our industrial scale mining operation," said Scott Bennett, CEO of Scate Ventures. "The easy approachability of the team and the level of service provided by them made our transaction a breeze."

Foundry's marketplace can be accessed by visiting www.foundryX.com or emailing [email protected], and contains the newest generation of machines.

About Foundry Digital LLC

A subsidiary of DCG, Foundry Digital LLC is a financing and advisory company focused on digital asset mining and staking. With the mission of empowering a decentralized infrastructure for a digital world, Foundry provides North American digital asset mining businesses with capital and intelligence. Foundry is based in Rochester, NY. For more information, please visit foundrydigital.com.

About Digital Currency Group, Inc.

Founded in 2015, Digital Currency Group is a global enterprise that builds, buys, and invests in blockchain companies all over the world. Today, DCG sits at the epicenter of the industry, backing more than 200 companies in 30+ countries. In addition to its investment portfolio, DCG is the parent company of some of the leading companies in the industry, including Grayscale Investments, Genesis Trading, CoinDesk, Foundry Digital, Luno, and TradeBlock.

For more information, please visit dcg.co.

SOURCE Foundry