Foundry Opened a New Market for Bitcoin Mining Rigs: Report

Foundry has opened a new Bitcoin mining rig marketplace called FoundryX, which brings together buyers and sellers of Bitcoin mining rigs as we can see today in our latest Bitcoin news.

Foundry has opened a new BTC mining marketplace that will act as eBay for mining rigs. This is the latest addition to the DCG subsidiary to hit the market in 2020. Bitcoin mining has changed a lot over the past year as massive repression takes place. China leads most of the industry moving to other countries. This is one reason Foundry, a fast-growing US mining company, is launching a new marketplace to support buyers and sellers of used mining rigs.

A new platform called FoundryX promises to act as an eBay marketplace for the mining industry, build relationships with hundreds of buyers and sellers, and act as an intermediary for the mining industry. The company was once known for its secret deals. Noting that people want more transparency, Jeff Burkee, the company’s vice president of business development, says buying oil rigs in the past has required faith in order to move money to China.

Foundry also has a mining pool and its own machines, but says it has generated over $ 125 million in hardware sales by 2021, securing more than 40,000 Mine BTC machines delivered by 2022 with their laptop or mobile at home. By 2015, the growing popularity of Bitcoin required miners to acquire additional computing power in the form of specialized machines with non-standard microcircuits.

These machines cost thousands or tens of thousands of dollars and are manufactured by Chinese manufacturers MicroBT and Bitmain. According to CEO Mike Coiler, the suppression of cryptocurrencies in China is aimed at domestic operations, not the production of machines for export. Coiler added that as a result of the raid, miners are trying to take their cars out of the country and sell them to buyers in other countries, such as the United States. This gives Foundy an opportunity as it assists buyers and sellers in the tedious process of delivering mining platforms around the world.

Although the foundry is less than two years old, it has grown rapidly. The company focuses on BTC mining operations but expands to equipment financing and creates the largest pool.