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Foundry Digital Launches Logistics Arm to Advance Standards in the Cryptocurrency Mining Industry


On Thursday, Foundry Digital LLC, the mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance standards in the cryptocurrency mining industry. The newly launched arm of the company plans to “bridge the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining hardware deliveries.”

DCG Company Foundry Launches Mining Logistics Arm

Foundry, the crypto mining, staking firm, and DCG company has announced the launch of a new company venture called Foundry Logistics. The new mining logistics arm follows the firm launching staking services in mid-November last year, and Foundry’s mining machine marketplace the following month. Foundry Logistics aims to enhance and set “high standards of transparency, efficiency, and dependability in the cryptocurrency mining industry.”

Foundry Logistics leverages offices worldwide, and on-the-ground contacts in order to bolster “cost-effective and streamlined deliveries” in the crypto mining industry. The company provides “clients with customs clearance, insurance guidance, ocean shipment solutions, national warehouse solutions, and other domestic surface logistics.” Foundry Logistics customers can also access the company’s mining machine marketplace Foundryx and other services the crypto business offers.

“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,” MK Sathya, the senior vice president of infrastructure at Foundry Logistics said in a statement sent to News.

Foundry Logistics Launch Follows Company’s Mining Industry Academy

The New York-based company’s mining pool Foundry USA is also the top mining pool in terms of BTC’s three-day global hashrate percentages. During the last three days, Foundry has captured 18.55% of the Bitcoin network’s global hashrate, which equates to 38.42 exahash per second (EH/s). While 469 blocks were collectively discovered by 13 mining pools, Foundry found 87 block rewards. Year-to-date statistics indicate Foundry USA was the top mining pool capturing 16.16% of the global hashrate in 12 months. Out of the 53,864 block rewards found during the course of the past year, Foundry USA found 8,705 blocks.

The Foundry Logistics launch follows the company introducing Foundry Academy on July 19. The academy offers a one-week program to train technicians so they can participate in the bitcoin mining industry. Foundry Academy detailed that registrations for the class are open as the program’s first session concluded in May. Foundry’s academic courses are conducted at a mining facility located in Rochester, New York.

What do you think about the newly launched Foundry Logistics? Let us know what you think about this subject in the comments section below.

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