Digital Currency Group Sets Foot in the Bitcoin Mining Sector

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • DCG has announced that over years of delicate observations and consideration, they’ve made their very first undertaking in bitcoin mining and staking
  • CEO of DCG, Barry Silbert has also said that the foremost mission of DCG is to look for ways to enhance the financial systems. 
  • Foundry had allied with a handful of companies that were focused in building a better-decentralised ecosystem

The Digital Currency Group (DCG) has officially announced its venture in the cryptocurrency mining industry. The crypto-focused company has contributed a total of $100 million to acquire the cryptocurrency mining company, Foundry. Over the tweet, DCG has announced that over years of delicate observations and consideration, they’ve made their very first undertaking in bitcoin mining and staking. Foundry, as mentioned above, is a crypto mining subsidiary which also offers capital and investment advice to miners. 

Foundry a Business Built for Miners, by the Miners

Undoubtedly, the Bitcoin mining industry is booming and hence, DCG stepping into the mining can be explained well. The CEO of Foundry, Mike Colyer describes the company as a business that is built for the miners by the miners. He also emphasized that their work promotes decentralised infrastructure empowerment and will enhance the development of mining and staking all over America. Previously, Foundry had allied with a handful of companies that were focused on building a better-decentralised ecosystem. Moreover, DCG believes that Foundry can appreciate both market efficiency and capital access to the booming mining industry.

DCF’s Furthers its Market Shares

Apart from DCG’s new crypto mining subsidiary, it is the parent company of the largest cryptocurrency asset management firm, Grayscale Investments. It also owns Genesis, which is a digital currency broker and CoinDesk, one of the leading cryptocurrency media agencies in the world. And in addition, DCG has made an investment in almost 600+ companies all over the globe. By furthering its branches in the cryptocurrency mining industry, DCG aims at expanding its decentralised ecosystem and its overall market share. The CEO of DCG, Barry Silbert has also said that the foremost mission of DCG is to look for ways to enhance the financial systems. 

Foundry Will Fulfill DCG’s Needs for Building a Better Financial System

The DCG CEO explained how crypto mining and staking operations builds a backbone for the blockchain technologies and hence Foundry, culminates proper resources and utilities in this sector. Foundry has a team with experience and expertise in the field that perfectly fits into DCG’s requirement of building a better financial ecosystem. 

The foundry was established a year ago and has already created its position as one of the leading crypto mining firms in America. We have seen the blockchain industry developing and received great support from institutional investors. DCG’s collaboration with Foundry is a step closer to a better-decentralised world.

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