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About Foundry Digital
Industries
Crypto & Web3
Financial Services
Company Size
51-200
Company Stage
N/A
Total Funding
N/A
Headquarters
Rochester, New York
Founded
2019
Overview
Foundry Digital specializes in providing services for the digital currency mining and staking industry, focusing on capital access, efficiency, and transparency. The company supports institutional clients, such as large-scale bitcoin miners and equipment manufacturers, by offering equipment financing, advisory services, and operational support. Mining involves using powerful computers to validate transactions on the blockchain, while staking requires holding cryptocurrency to support network operations. Foundry helps clients optimize their operations to ensure profitability and efficiency. The company differentiates itself through its extensive institutional expertise and financial resources, leveraging its position as a subsidiary of Digital Currency Group. Foundry's goal is to empower its clients to succeed in the rapidly evolving digital currency market.
Simplify's Take
What believers are saying
- Foundry's expansion into Texas capitalizes on the state's Bitcoin mining growth.
- The launch of Foundry Hardware enhances mining efficiency and attracts institutional clients.
- Participation in Flock.Io's AI platform could enhance operational capabilities with new AI models.
What critics are saying
- Increased competition in hardware may impact Foundry's market share and profitability.
- Acquired Texas mining sites may require significant investment to become profitable.
- Rising Bitcoin mining difficulty could reduce profitability for Foundry's operations.
What makes Foundry Digital unique
- Foundry Digital offers specialized services for institutional bitcoin miners and manufacturers.
- The company provides equipment financing, advisory services, and operational support to clients.
- Foundry leverages Digital Currency Group's expertise and resources for market intelligence.
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Benefits
Competitive base salary, bonus & incentive compensation
Unlimited PTO
Professional development budget
Health insurance
Life insurance & disability coverage
401k
FSA
Paid parental leave
Company News
Foundry Digital LLC has launched a new suite of products aimed at enhancing institutional bitcoin mining operations.
The 'Foundry Hardware' suite of products aims to maximize operational performance and efficiency for institutionsROCHESTER, N.Y., June 21, 2024 /PRNewswire/ -- Foundry Digital LLC ("Foundry"), a leader in digital asset infrastructure, today announced the launch of Foundry Hardware, its latest suite of products designed specifically for institutional cryptocurrency mining operations. Foundry Hardware products aim to optimize mining systems, improve uptime efficiency, and enhance long-term reliability.Recognizing a gap in the cryptocurrency mining industry for hardware that draws on tried-and-tested learnings from the traditional manufacturing space, Foundry has leveraged its technical expertise, extensive experience, and robust industry relationships to create Foundry Hardware."Our decision to enter the hardware market was driven by our desire to provide innovative products aimed at making miners' lives easier through simpler maintenance while continuing to focus on improving mining efficiency and uptime reliability," said MK Sathya, Senior Vice President of Mining Services at Foundry. "Furthermore, we intend to provide miners with inventory flexibility by building hardware usable on multiple models of mining machines."The suite of Foundry Hardware products currently includes three innovative products:Power Supply Unit (PSU): Engineered with a heavy-duty and versatile design, this unit supports multiple mining machine models, offering users inventory flexibility. It supports a wider voltage output, allowing for underclocking and overclocking. This ensures miners remain online and operational even in extreme environments.Immersion Optimization Kit: Tailored for immersion systems, this kit allows for the re-orientation of both the miner and the control board, enhancing efficiency and profitability.Control Board: This product optimizes miner performance through real-time tuning and is compatible with various mining machine models. It eliminates firmware development fees, providing a cost-effective solution for maximizing operational output.For more detailed information on these products, please visit foundrydigital.com/mining-service/foundry-hardware
We're excited to have Foundry onboard, significantly expanding our decentralized network and stability. With train.flock.io, we're addressing the growing demand for custom AI models, empowering communities to create and train specialized models while ensuring top-notch data protection and security
Foundry has also expanded its own operations within Texas, acquiring mining sites from the bankruptcy estate of Compute North, a mining firm that collapsed due to bear market pressure last year.
Akamai partnered with Foundry on the report which surveyed more than 300 global IT and security decision-makers.
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About Foundry Digital
Industries
Crypto & Web3
Financial Services
Company Size
51-200
Company Stage
N/A
Total Funding
N/A
Headquarters
Rochester, New York
Founded
2019
There are no jobs for Foundry Digital right now.
Find jobs on Simplify and start your career today