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- Foundry reduces its workforce by 27%, focusing on Bitcoin mining operations and restructuring under DCG.
- Yuma, a decentralized AI startup, emerges as Foundry transfers 20 employees amid strategic realignment.
The biggest Bitcoin mining pool in the world, Foundry, has revealed a major personnel cut, which has generated different estimates on its scope and consequences. Confirmed by CEO Mike Colyer in an interview with Blockspace, the New York-based company dropped its personnel from 274 to 200, a 27% cut.
But according to Blockspace’s anonymous sources, up to 40–60% of Foundry’s employees may have been impacted by the layoffs and related corporate reconfiguration.
Foundry Restructures to Focus on Core Business Operations
Colyer noted that staff members were individually informed prior to a team meeting when the issue was addressed; sixteen percent of the affected employees are based in the United States.
Foundry said that the layoffs were a calculated move to focus on its major business operations, which include keeping its leading worldwide Bitcoin mining pool and growing site operations companies. This change aligns with attempts under Digital Currency Group (DCG), the parent firm, to restructure the company and simplify processes.
Apart from the layoffs, Foundry relocated about twenty staff members to Yuma, a new DCG affiliate carved out from its own artificial intelligence division, Bittensor.
Currently under DCG CEO Barry Silbert, Yuma—described as a decentralized artificial intelligence startup—is This spinout narrows Foundry’s emphasis on important revenue sources while complementing its more general approach to help DCG’s subsidiaries flourish.
Further underlining the restructuring project, foundry records seen by Blockspace suggest continuous plans to spin off various facets of the company.
Originally reported by Blockspace as Foundry planned to completely stop running hardware and ASIC repairs, company management later refuted this. Foundry underlined that the repair line will stay running while the hardware line would simply be deprioritized.
With Foundry USA as a major contributor, the United States dominates over 40% of the worldwide hashrate and is therefore central in global Bitcoin mining, according to CNF. Using renewable energy to support sustainable mining methods, Texas alone makes up over 28% of the U.S. hashrate.
