CleanSpark becomes a client of the Foundry USA Pool

The Nasdaq-listed mining company CleanSpark said it had moved all of its Bitcoin mining hash rate to the Foundry USA Pool, with plans to triple it over the course of a year.

We’re excited to partner with @FoundryServices, moving all of our current sustainable #bitcoinmining power of over 1 EH/s to Foundry USA Pool — the leading crypto mining pool in North America.https://t.co/Pcy6VXfq46

— CleanSpark Inc (CLSK) (@CleanSpark_Inc) September 27, 2021

CleanSpark’s hash rate stands at 1 EH/s, generated by 10,000 ASIC devices. The firm plans to raise the figure to 2 EH/s by the end of this year and to 3.2 EH/s by autumn next year.

In April CleanSpark announced the purchase of 22,680 miners. In August the firm purchased, for $6.6 million, the second data center in Georgia and announced plans to invest $145 million in the facility. CleanSpark expects its capacity to add 20 MW, enough to power 6,000 miners.

Foundry, a DCG subsidiary led by Barry Silbert, leverages its strategic relationships with Bitcoin-mining device manufacturers to give clients early access to ASIC devices.

Foundry USA also provides \”mining-company financing management services\”. They flow from the seamless integration of the pool with Genesis, another DCG subsidiary.

The service includes the ability to generate yields from mined coins, secure storage, collateralized Bitcoin lending, use of derivative products, and \”smooth\” liquidation.

Foundry USA counts Bit Digital, Bitfarms, Hive, BitDeer, Core Scientific, Greenidge and Foundry among its clients.

In January, when the subsidiary was created, said that Foundry would become the largest mining pool in the United States.

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