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Hut 8 Joins Foundry’s Institutional Bitcoin Mining Pool With Over 14,000 Machines
Hut 8 plans to add another 5,000 ASICs to Foundry's pool by August.
Publicly traded bitcoin mining firm Hut 8 is now mining through Foundry’s North America-based pool, according to an announcement made Tuesday.
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The Toronto-based company added 14,400 machines to Foundry’s pool with plans to deploy an additional 5,000 machines by August, per a statement shared with CoinDesk.
Foundry, a wholly owned subsidiary of CoinDesk parent Digital Currency Group (DCG), just brought its pool out of a beta testing phase two weeks ago. Already Foundry ranks near the top 10 mining pools worldwide, marking a significant advancement in North American pooled mining activity for a sector historically dominated by the Eastern Hemisphere.
“Having a formidable bitcoin mining pool based and operated entirely in North America is important to us,” said Hut 8 CEO Jamie Leverton in a statement.
Hut 8 shares have significantly outperformed bitcoin so far in 2021, climbing nearly 160% to above C$8 per share. Bitcoin gained roughly 85% over the same period.
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
