Hut 8 Mining Corp., one of North America’s largest institutional bitcoin miners, announced today that it will be joining the Foundry USA Pool, becoming the largest bitcoin mining operation to do so.
“Hut 8 has added a portion of its total fleet; 14,400 bitcoin mining machines, and over 0.81 exahashes of compute power to Foundry USA Pool,” according to a press release sent to Bitcoin Magazine.
Foundry USA Pool, run by Digital Currency Group’s (DCG) wholly-owned subsidiary Foundry LLC, began accepting institutional clients earlier this month. Existing clientele within the pool include Blockcap and Foundry itself.
Hut 8 will be the largest client in the Foundry USA Pool after joining, according to the press release. The pool offers competitive fees and payouts, making it a compelling North American alternative to an industry dominated by China-based operations. While bitcoin mining continues to progress in the traditional finance world, North America-centered operations serve to offer onshore investment opportunities.
“We are pleased to welcome them to our pool as we work towards securing North America’s
place among the world’s top-five bitcoin mining pools,” said Mike Colyer, CEO of Foundry, per the release.
As institutional investment in North American Bitcoin mining operations rises, the competition to acquire hash power continues to drive interest in mining pools. Foundry USA Pool is an excellent example of the potential benefit of pooling hashpower on large scale.