Bitmain, the miner manufacturer, announced the expansion of its partnership with Foundry, previously having become a subsidiary of Barry Silbert’s Digital Currency Group. The aim of the collaboration is to attract capital into the North American mining industry.
#Bitmain collaborates with @FoundryServices to expand cryptocurrency mining in North America. Another leap towards developing the cryptocurrency mining space. https://t.co/e4CRGKxGxi pic.twitter.com/ztMiJTV6Km
— BITMAIN [Not giving away ETH] (@BITMAINtech) September 10, 2020
Bitmain noted that financing for miners is harder to obtain than for companies in other sectors. Foundry has been among the first to tackle this problem.
According to the statement, the subsidiary of Digital Currency Group previously provided miners with “tens of millions” to finance purchases of mining equipment.
“Thanks to the work of Foundry and the financial support of our end customers, we were able to ship a significant number of devices to North America this year,” said Su Ke, Global Sales and Marketing Director for Antminer at Bitmain.
He added that the company hopes for close cooperation with Foundry to attract even more customers.
Bitmain noted that North America is rapidly becoming the “epicentre of Bitcoin mining.” This is evidenced by the recent deal for Antminer S19 Pro with Riot Blockchain for $28.8 million, and a contract for $23 million with Marathon Patent Group, the statement says.
Back in 2021, Bitmain co-founder Micree Zhang announced the sale of miners based on 5-nm chips, with shipments beginning in January 2021.
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