To increase institutional participation in digital asset mining, Digital Currency Group (DCG) has formally spun off Fortitude Mining, a new cryptocurrency mining firm. Fortitude Mining, which was previously a part of Foundry, now works independently, allowing DCG to fine-tune its mining-related emphasis and strategy.
Fortitude Mining will focus on mining Bitcoin and other proof-of-work cryptocurrencies with significant growth potential. Fortitude Mining has appointed Andrea Childs, a former senior executive at Foundry, as its CEO. Under her direction, the new business intends to increase mining capacity, attract investment, and improve operating efficiency.
The decision to establish Fortitude Mining is consistent with DCG’s broader restructuring plans. Last year, Foundry cut its workforce and streamlined operations to focus on its primary Bitcoin mining business. Foundry is the largest Bitcoin mining pool, accounting for more than 30% of the network’s total hashrate.
As the bitcoin mining ecosystem changes, organizations must adjust to post-halving difficulties and greater market competitiveness. Many miners have changed their strategy, focusing on retaining mined Bitcoin rather than selling it right away. Fortitude Mining wants to reinvest revenues in infrastructure expansion, such as purchasing new mining equipment and obtaining more energy-efficient sites.
DCG’s move reflects the growing institutional interest in bitcoin mining. Large-scale miners are continually researching ways to expand operations while remaining profitable. With the debut of Fortitude Mining, DCG demonstrates its dedication to innovation and sustainability in the cryptocurrency mining sector.
