Mike Colyer, CEO of Foundry, joined the “Bitcoin Magazine Podcast,” to discuss distributing the Bitcoin mining hash rate.
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On this episode of the “Bitcoin Magazine Podcast,” host Christian Keroles sat down with Mike Colyer, the CEO of Foundry, a wholly-owned subsidiary of Digital Currency Group that’s focused on bitcoin mining in the U.S. Foundry is making a massive effort to bring hash rate to North America, both with physical hardware as well as by building the Foundry USA mining pool.
Colyer is extremely proud of how much hash rate is flowing into the U.S. and the fact that Foundry’s pool has peeked into the top-five BTC mining pools of the world, as well as the fact that Foundry was one of the very first mining pools to signal for the Taproot upgrade of Bitcoin.
One of the key ways that Foundry is building out a competitive mining environment in the U.S. is by financing other operations to acquire energy contracts and mining equipment. Foundry understands that nation states will have to build a strategy around Bitcoin mining and he wants to make sure that the hash rate is as evenly distributed around the globe as possible.
Additional topics discussed include:
- Mining in North America
- The cost of mining per kilowatt in the best geographies
- The role of mining in geopolitics
- Volatility in Bitcoin’s hash rate and what that means
- The players in the ASIC game and the nature of the ASIC market
- Foundry financing self-mining or equipment in North America
- How the mining ecosystem is evolving over the course of this year
