Foundry, the largest mining pool in the United States, has reduced its workforce by 27%, from 274 to 200 employees, according to Blockspace.
Sources indicate that the company has begun restructuring its business, transferring around 20 employees to a new subsidiary under Barry Silbert’s Digital Currency Group (DCG) — an AI startup named Yuma, built on Foundry’s Bittensor. Silbert is serving as the acting CEO of Yuma.
“We recently made a strategic decision to focus on our core business — managing the world’s number one bitcoin mining pool and expanding site operations, while supporting the development of DCG’s newest subsidiaries,” Foundry stated.
In comments to the media, the mining pool added that it has deprioritized its ASIC miner production line, although it has not affected its equipment repair line.
At the time of writing, Foundry’s mining power accounts for over 32% of the total bitcoin network hashrate.
Back in November, Axie Infinity’s developer reduced its workforce to create a new game.