Foundry Cuts Workforce by 60%: The World’s Largest Bitcoin Mining Pool Restructures

Quick Summary:

On Monday, Foundry, the world’s largest Bitcoin mining pool, announced a significant reduction in its workforce, laying off approximately 60% of its staff.

This decision, confirmed by a report from Blockspace, affects both US and international staff, reducing the company’s headcount from over 250 to around 80-90 employees.

Last week, the company also transferred about 20 staff members to a new DCG subsidiary, Yuma, a decentralized artificial intelligence (AI) startup led by DCG and Barry Silbert who is also acting CEO of the new venture.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: Hungary

Topics: Foundry Bitcoin price Bitcoin News Btcusd DCG BTCUSDT Btc Bitcoin mining Crypto news Bitcoin Crypto DCG news

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-04 @ 16:30:08 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 447 words

Reading Time: 3 minutes read

Sentences: 30 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 24122552

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