Foundry, a subsidiary of the Digital Currency Group, or DCG, ranked among the ten largest Bitcoin (BTC) miners in the world.
The company’s CEO Barry Silbert announced this Tuesday and predicted that Foundry would soon be on the list of five mines.
The foundry had a total hash rate of 2.74 hours per second at time of publication, according to block researcher BTC.com. The mining dam is responsible for 1.85% of the total global hash rate.
The news comes shortly after Silbert announced that global bitcoin miners will be able to join the Foundry pool starting in February. The CEO also expressed optimism about US mining and predicted that Foundry would soon become the largest Bitcoin mining pool in the US.
Foundry was officially unveiled by DCG in August 2020, and Foundry is still far from the best mining pools in the world like F2Pool and Binance Pool in terms of hashrate. F2Pool in China – the largest mining pool accounting for 18% of the total hash rate – has a hash rate of over 24 EH / s at the time of publication.
The Binance pool was launched in April 2020 and is now the second largest mining pool, accounting for approximately 13% of all global Bitcoin mining operations. The pool fractionation rate at the time of publication is 19.16 EH / s.
As Cointelegraph told Cointelegraph on Friday, F2Pool activity was likely the main reason behind the recent Bitcoin sales, causing the price to drop below $ 29,000.