Bitcoin
$64,243.59+1.37%
Ethereum
$3,084.15+0.60%
Binance Coin
$559.79+1.66%
Solana
$144.88+3.14%
XRP
$0.50514126+0.54%
Dogecoin
$0.15341360+1.65%
Toncoin
$6.15-4.16%
Cardano
$0.47066252+3.84%
Shiba Inu
$0.00002281+0.74%
Avalanche
$35.12+0.53%
Wrapped Bitcoin
$64,391.99+1.41%
Tron
$0.11019952+0.85%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
01
DAY
00
HR
19
MIN
29
SEC
Markets

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.

By Zack Voell
AccessTimeIconMar 23, 2021 at 12:08 p.m. UTC
Updated Sep 14, 2021 at 12:30 p.m. UTC
Pool and ball
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Publicly traded bitcoin mining firm Hut 8 is now mining through Foundry’s North America-based pool, according to an announcement made Tuesday.

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.