Top cryptocurrency news: Foundry Digital Launches Logistics Division to Advance Standards in the Cryptocurrency Mining Industry

29-Jul-2022 By: Rohit Tripathi

On Thursday, Foundry Digital LLC, a mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance cryptocurrency mining standards.

The company's newly launched division intends to bridge the gap between hardware manufacturers and buyers by offering an all-in-one solution for mining hardware deliveries.

Foundry, the crypto mining, staking, and DCG firm, has announced the launch of Foundry Logistics, a new company venture. The new mining logistics division comes after the company launched staking services in mid-November last year, followed by Foundry's mining machine marketplace the following month. Foundry Logistics' mission is to improve and establish high standards of transparency, efficiency, and dependability in the cryptocurrency mining industry.

“Foundry Logistics utilizes offices around the world and on-the-ground contacts to improve cost-effective and streamlined deliveries in the crypto mining industry.” Clients can rely on the company for customs clearance, insurance advice, ocean shipment solutions, national warehouse solutions, and other domestic surface logistics. Customers of Foundry Logistics can also access the company's mining machine marketplace Foundryx, as well as other services provided by the crypto business.

MK Sathya, Foundry Logistics' senior vice president of infrastructure, said in a statement that "With Foundry Logistics, we want to do exactly what Foundry has done with other business verticals: provide a growing number of institutions in this maturing industry with products, services, and resources on par with those that exist in older and more established industries."

Foundry USA, based in New York, is also the top mining pool in terms of BTC's three-day global hashrate percentages. Foundry has recorded 18.55 percent of the Bitcoin network's global hashrate in the last three days, which equates to 38.42 exahash per second (EH/s). While 13 mining pools discovered 469 blocks, Foundry discovered 87 block rewards. According to year-to-date statistics, Foundry USA was the top mining pool, capturing 16.16 percent of global hashrate in 12 months. Out of the 53,864 block rewards found over the course of the previous year, Foundry USA found 8,705 blocks.

The Foundry Logistics launch follows the company's July 19 introduction of Foundry Academy. The academy provides a one-week program to train technicians to work in the bitcoin mining industry. Foundry Academy stated that registration for the class is now open, despite the fact that the program's first session ended in May. Foundry's academic courses are carried out at a mining facility in Rochester, New York.

WHAT'S YOUR OPINION?