Bitfarms, an institutional bitcoin mining company, has partnered with Foundry USA Pool to “Expand [Bitfarms’] Bitcoin mining fleet … instantly increases operating hashrate by 15%, ”read a press release shared with Bitcoin Magazine today.
Bitfarms operates one of the most important mining operations in North America and, together with Foundry Digital – a subsidiary of the Digital Currency Group (also the parent company of Grayscale) – will improve the scale of the mining industry on the continent.
Foundry offers a range of services that include sourcing bitcoin miners for interested companies. With Foundry, Bitfarms intends to buy and finance the latest cryptomining machines, 2,465 of them per release. The first 1,465 of these were installed at Bitfarms’ Sherbrooke facility. Once they’re up and running, they should increase Bitfarms’ hash rate by an impressive 133 PH / s.
The partnership between Foundry and Bitfarms is not the first that Foundry has entered into after it was announced that they will be adding institutional clients as early as March 2021. They have partnerships with BitDeer and Hut 8. These partnerships offer a solution to the shortage of miners and help in the development of mining space.
According to the press release, Bitfarms CEO Emiliano Grodzki said his company “is excited to partner with an industry-leading equipment finance provider to provide timely and reliable access to the latest generation of Bitcoin mining machines and continue to grow our business.” Also shared Mike Colyer, CEO of Foundry, “We are excited to provide Bitfarms, a leading Bitcoin mining company in North America, with equipment finance and a mining pool to support public trade. Companies like Bitfarms are scaling their operations locally and fully compliant. “