Miner manufacturer Bitmain has announced an expansion of its partnership with Foundry, formerly a subsidiary of Barry Silbert’s Digital Currency Group. The goal of the collaboration is to raise capital for the mining industry in North America.
Bitmain noted that it is more difficult for miners to get funding than for companies from other industries. Foundry was one of the first to tackle this problem.
According to the statement, the subsidiary of the Digital Currency Group has previously provided miners with “tens of millions” to finance the purchase of equipment for mining cryptocurrencies.
“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 Antminer Global Sales and Marketing Director at Bitmain Su Ke.
He added that the company “looks forward to working closely with Foundry to attract even more customers.”
Bitmain noted that North America is rapidly becoming the “epicenter of bitcoin mining.” Evidence of this is the manufacturer’s recent $ 28.8 million deal for the Antminer S19 Pro miners with the Riot Blockchain, as well as a $ 23 million contract with the Marathon Patent Group, it said in a statement.
Recall that Bitmain co-founder Mikri Zhang announced the sale of miners based on 5nm chips with the start of deliveries in January 2021.