MicroBT, has partnered with New York-based Foundry Digital LLC and a Southeast Asia-based company to increase its market share in North America and improve supply chain efficiencies for North American buyers of its cutting-edge cryptocurrency mining machines.
Foundry Digital LLC, a subsidiary of DCG, provides financing and procurement solutions for the latest generation of mining hardware to institutional companies in North America. MicroBT has been collaborating with Foundry since Foundry’s inception in 2019, and has delivered tens of thousands of WhatsMiner M30 series of mining machines to Foundry and its clients since the M30 series’ launch in April. As a part of the new partnership, Foundry would be the first to receive the new batches of the M30S that MicroBT plans to produce in Southeast Asia.
“With our collaboration and MicroBT’s upgraded production capabilities we look forward to continuing to facilitate the timely procurement and delivery of the latest generation mining hardware for our clients, who are institutional miners in North America,” said Mike Colyer, CEO of Foundry.
Backed by state-of-the-art R&D, MicroBT’s mining machines have become well known in the industry for their high performance and stability. Every generation of the WhatsMiner brand of bitcoin mining machines has proven to be one of the most competitive among all other brands. The WhatsMiner M20 accounted for over 35% of the global market share by the end of 2019. Its succeeding series, the M30, redefined industry standards with high power-efficiency, stability and a one-year manufacturer’s warranty.
“The Foundry team’s in-depth understanding of the mining business and regional expertise have already helped us in making the initial tests of this new supply chain a success,” said Jianbing Chen, COO of MicroBT. “We will continue working closely with Foundry to provide the highest quality of machines and after-sale services to our customers in North America. This would not only further decentralize Bitcoin’s hashrate but also secure the global network.”
About Foundry Digital: A subsidiary of DCG, Foundry is a financing and advisory company focused on digital asset mining and staking. With the mission of empowering decentralized infrastructure for a digital world, Foundry provides North American digital asset mining businesses with capital and intelligence.
About DCG: Founded in 2015 by Barry Silbert, Digital Currency Group is a global enterprise that builds, buys, and invests in blockchain companies all over the world. As the most active investor in the blockchain space, DCG sits at the epicenter of the blockchain industry, backing more than 160 companies in 30+ countries. In addition to its investment portfolio, DCG is the parent company of Grayscale Investments, Genesis, CoinDesk, Foundry, and Luno.