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Bitmain Partners With Digital Currency Group's Foundry to Fuel Crypto Mining Business in North America

Crypto mining giant Bitmain has announced that it will be partnering with crypto mining firm Foundry to extend its services to North America.

The announcement was made on September 10, and through the partnership, Chinese Bitcoin mining firm Bitmain hopes to enhance its financial services to North American customers. Bitmain has announced that it has been collaborating with crypto powerhouse firm Digital Currency Group (DCG)’s subsidiary, Foundry for quite some time. The latter has been able to provide the capital needed to fund crypto mining equipment for many of Bitmain’s large-scale clients. According to Bitmain, the partnership has been beneficial, as it has enabled mining businesses to grow and the overall ecosystem has been strengthened.

Marketing Director of Antminer at Bitmain, Su Ke, said:

“Through Foundry’s work and financial support of our end customers, we have been able to ship a significant number of machines into North America this year.”

Bitmain has vouched for Foundry, saying that the crypto subsidiary firm of Digital Currency Group has been one of the largest Bitcoin miners in North America. Through its equipment financing to other mining organizations, it has facilitated “almost half of the Bitcoin mining delivered in North America this year.” Established in 2019, services that Foundry offer includes institutional expertise, market intelligence to crypto miners and manufacturers alike, and capital. Speaking about his company, CEO of Foundry Mike Colyer said:

“Foundry was established to empower miners with the tools to build tomorrow’s decentralized infrastructure. an important part of this is addressing the chronic lack of financing options, which is holding back many successful mining businesses from scaling their operations.”

Bitmain continues to expand, partnering with firms like Foundry to support customers and institutions looking to scale their businesses. At the beginning of this month, Bitmain also expanded its growth by signing a new $23 million Antminer S19 Pro Contract with Marathon Patent Group.

Antminer S19 Pro is said to be equipped with the most advanced chipset currently available on the market and seems to be the preferred choice of major mining firms’ orders.

Antminer Sales Director of NCSA Region for Bitmain, Irene Gao, had said that these new miners were set to “bring in a new era of Bitcoin mining.”

North America To Get Its First Bitcoin Mining Pool to Rival China’s Crypto Mining Dominance

Titan cryptocurrency mining software company is looking to grab a larger slice of the North American market by creating its first enterprise-grade Bitcoin pool in the continent, focusing on spearheading the region’s presence and impact in cryptocurrency mining.

Titan has already partnered with CoreScientfic crypto mining infrastructure provider and CoinMint crypto mining company to enable the launch of its first Bitcoin mining pool in North America. Titan is open to working together with other crypto mining firms.

Currently, Europe and Asia dominate in Bitcoin mining with Chinese miners controlling 66% of global Bitcoin computer power.

The Titan pool aims to provide a strong alternative in North America and a way for the continent’s Bitcoin miners to accomplish the scale and efficiency enjoyed by miners in other regions. The commitment aims to enable the continent to have a mining pool that provides professional-level benefits that Bitcoin mining companies (Bitcoin miners) need.

With the presence of the Titan mining pool, crypto mining companies in North America are set to enjoy benefits such as greater simplicity, faster and efficient mining processing, and achieve greater economies of scale.

The Titan’s open beta would start in mid-January 2021 and a complete launch come afterward.

Titan Co-founder and CEO Ryan Condron said:

“Titan is uniquely positioned to deliver North America’s first and best institutional-class Bitcoin mining pool. Our work in delivering software for managing large cryptocurrency mines means that we deeply understand mining across its entire value chain.”

Impact of China Crackdown on Crypto Miners

Crypto miners have been flocking to China to take advantage of cheap renewable electricity in the country. However, with the recent crackdown by the Chinese authorities, crypto miners have found it challenging to pay electricity bills. The Chinese law enforcement officials recently embarked on a nationwide operation to freeze cards linked to cryptocurrency transactions as an effort to weed out money laundering and illegal financial activities with a target of finance and crypto industries.

Crypto miners have been experiencing difficulty to exchange the mined cryptocurrency to the Chinese Yuan. Such challenges are pushing crypto miners to the wall and influencing them to move their activity outside of China and relocate to North America, specifically to Canada and the United States. However, Bitcoin mining pools in North America still need to match the affordable hydroelectric power and the privileges of abundance available to crypto miners in China.

Core Scientific Partners with Foundry in Financing Deal up to $23 Million

BELLEVUE, WA — DEC. 9, 2020 — Core Scientific, the largest digital mining operation in the U.S., announced it has partnered with Foundry to receive up to $23 million dollars in financing for Core Scientific and its clients’ mining equipment. The financing from Foundry provides Core Scientific and its clients the opportunity to expand capacity for mining machines in North America. Foundry is a wholly owned subsidiary of Digital Currency Group (DCG).

Foundry has provided Core Scientific’s clients with $11 million in mining equipment financing, and provided Core Scientific with up to $12 million for mining equipment. This $23 million investment made by Foundry is one of the largest financing deals in the mining industry this year. DCG has committed to investing $100 million into Foundry through 2021.

Core Scientific will continue to use this financing to expand its mining fleet in its locations throughout North America. The financing being provided to Core Scientific helped play an important role in Core Scientific’s substantial 17,000-unit order the company placed with Bitmain earlier this year, which at the time of purchase, was the largest order Bitmain had sent to the U.S. As only a finite number of mining machines are available, and many are located in places such as China or Southeast Asia, Core Scientific’s ability to expand its fleet means more mining machines, and therefore more hashpower, will shift to being hosted in North America.

Kevin Turner, CEO of Core Scientific, said: “DCG is a powerhouse in bitcoin and blockchain known for their support of industry innovation. Foundry’s investment will allow Core Scientific to continue expanding in North America while providing more hashpower to our existing and future clients. This is a partnership between two of the biggest names in the mining industry and will further establish North America as a leading destination in the mining space.”

Mike Colyer, CEO of Foundry and former Core Scientific executive, said: “Prior to joining Foundry, I led business development efforts at Core Scientific, where I was able to witness firsthand how the company is pioneering innovation in blockchain infrastructure. We’re very confident in the organization and its goal, which is why we’re making a significant investment into the cryptocurrency mining industry with Core Scientific.”

For more information, please visit https://www.corescientific.com.

Image source: Core Scientific Media

Largest North American Bitcoin Self-Mining Company, Marathon Announces $250 Million Registered Direct Offering of Common Stock

Marathon Patent Group, Inc. (Marathon)—one of the largest enterprise Bitcoin self-mining companies in North America today announced a $250 million registered direct offering of common stock.

Marathon Patent Group, a patent-holding company and parent of Uniloc and known for its Bitcoin mining has today announced that it has entered into securities purchase agreements with several institutional investors for the purchase and sale in a registered direct offering of 12,500,000 shares of its common stock at an offering price of $20.0 per share.

The gross proceeds of this offering are expected to be $250.0 million, before deducting placement agent fees and other offering expenses payable by Marathon. Marathon intends to use the net proceeds of this offering for general corporate purposes and to fund ongoing operations and expansion of its Bitcoin mining operations.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering which is expected to close on January 15, 2021, subject to satisfaction of customary closing conditions.

Marathon Patent Group $200M Capital Raise

On Jan. 4, Marathon announced that it had successfully completed its previously announced $200 million shelf offering by utilizing its at-the-market (ATM) facility. As a result, the Company ended the 2020 fiscal year with $217.6 million in cash and 74,656,549 shares outstanding.

As the Bitcoin price surges, interest in Bitcoin mining has also surged. Marathon is the largest enterprise Bitcoin self-mining company in North America and currently operates one mining facility in Quebec, with plans to open additional facilities in the future.

Marathon intends to utilize the funds from this recent capital raise to pay for the miners it has purchased from Bitmain. To date, Marathon has purchased 103,060 miners, which, once delivered and fully deployed, will produce approximately 10.36 EH/s. 15,200 of these units are scheduled to be shipped in the first quarter of 2021, and the Marathon currently anticipates installing 4,000 units in February, 6,300 in March, and 4,800 in April.

After initial deposits were paid, Marathon’s remaining balance due to Bitmain was $163.0 million, indicating that the Company’s current cash position is more than adequate to cover the costs of all miners purchased as of December 31, 2020.

As Bitcoin popularity grew last year, Mara’s stock price rose by 2769.53% over the last 365 days. The Mara price again surged by 11.94% yesterday to close at $26.15.

D-Central Launches Innovative "Hash No Cash" Promotion Across North America

Laval, Canada, May 11th, 2023, Chainwire

Groundbreaking Initiative Revolutionizes ASIC Repair Services, Encourages Sustainability and Decentralization in Cryptocurrency Mining.

D-Central Technologies Inc., a pioneer in the cryptocurrency mining industry, is excited to announce the expansion of its revolutionary “Hash No Cash” program to all cryptocurrency miners in North America. This innovative initiative, previously accessible only to select clients, is now available to miners of all scales, dramatically transforming the landscape of ASIC repair services.

The “Hash No Cash” program allows D-Central to provide high-quality repair services for mining hardware at no cash cost, instead accepting broken hardware as payment. This innovative approach is a testament to D-Central’s commitment to fostering sustainable, accessible, and cost-effective solutions for miners.

“In the rapidly evolving world of cryptocurrency mining, the need for efficient and affordable repair services is more important than ever,” said Jonathan Bertrand, CEO of D-Central. “With the ‘Hash No Cash’ program, we’re making it easier for miners to maintain and repair their hardware, allowing them to keep their capital for strategic investments such as new hardware purchases.”

The “Hash No Cash” program also contributes to environmental sustainability by reducing electronic waste. By repairing and repurposing broken hardware, D-Central minimizes the demand for new equipment production, thereby reducing the environmental impact of cryptocurrency mining.

Furthermore, the program promotes decentralization in cryptocurrency mining. By making repaired hardware available to retail customers at affordable prices, D-Central is putting the power of ASICs into more hands, fostering the wider distribution of mining power.

“D-Central is committed to driving change within the cryptocurrency mining industry,” said Jonathan Bertrand. “Our goal is not just to provide repair services, but to create solutions that are financially viable, environmentally friendly, and conducive to the decentralization of mining power.”

Miners across North America are invited to take advantage of the “Hash No Cash” program. To learn more about the program or to get started, please visit: https://d-central.tech/

About D-Central

D-Central is a leading provider of cryptocurrency mining services, offering a wide range of solutions including ASIC repair services, mining support, and disinfection services. Since its establishment in 2016, D-Central has been committed to providing professional services tailored to the unique needs of the cryptocurrency mining industry. With a track record of delivering high-quality services and innovative solutions, D-Central continues to shape the future of cryptocurrency mining.

Contact

CEOJonathan BertrandD-Central Technologies Inc.support@d-central.tech18557539997