Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Mining Firm
Foundry Confirms Layoffs Despite Rising
Miner Revenues
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Mining Firm Foundry Confirms Layoffs Despite Rising Miner Revenues
American Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining firm Foundry confirmed that it let go of 16% of its
staff, continuing a wave of layoffs across crypto companies.
By Mat Di Salvo
Dec 4, 2024 Dec 4, 2024
3 min read
Image: Artie Medvedev/Shutterstock
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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is booming and the crypto industry is making a comeback—but layoffs
keep happening lately.
The latest firm to make such a move is American Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miner Foundry. Based
in Rochester, New York, Foundry confirmed that it has cut 16% of its staff.
The company is one of the biggest U.S• Соединённые Штаты Америки (США). Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miners.
It said in a statement to Decrypt that it “made the difficult decision to
reduce Foundry’s workforce, resulting in layoffs across multiple teams.” The
firm added that it had also cut a small team in India.
Blockspace first reported word of layoffs, though Foundry said a smaller
number of roles were affected than originally claimed.
“We recently made the strategic decision to focus Foundry on our core
business• Экономика » Бизнес—operating the number-one• Музыка » Музыка США » Музыканты США » Музыкальные коллективы США » Рок-группы США » Manowar » Альбомы Manowar » Number One Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining pool in the world and growing
our site operations business• Экономика » Бизнес—while we supported the development of DCG’s
newest subsidiaries, including Yuma and the spinout of Foundry’s successful
self-mining business• Экономика » Бизнес,” it said in a statement.
Yuma is an artificial intelligence (AI) platform and Foundry subsidiary.
Digital Currency Group (DCG), which owns Foundry, said in a letter to
shareholders after the U.S• Соединённые Штаты Америки (США). election that its mining operation would work best
as a “standalone business• Экономика » Бизнес.” Foundry also provides staking services for other
digital assets like Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum .
Despite surging crypto prices, major companies across the space—including
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum giant Consensys , top digital asset exchange Kraken , and New York• Соединённые Штаты Америки (США) » Административные единицы США » Административное деление США » Нью-Джерси » Нью-Йорк
• Соединённые Штаты Америки (США) » Населенные пункты США » Города США » Города штата Нью-Йорк » Нью-Йорк
platform dYdX —have cut headcount this year. Experts told Decrypt before the
election that regulatory uncertainty played a part in companies slimming down.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining is a particularly difficult industry. Rewards for miners get
slashed every four years, and it becomes more expensive for companies to run
their businesses.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining is the process of using powerful computers to verify
transactions on the biggest crypto network.
Back in the day, over 14 years ago, it was possible to do the process on a
home PC. But as the network has grown, so has the industry—and the
competition. Miners are typically now large operations using server farms and
a lot of electricity.
Miners receive newly minted Bitcoins for their work, and as the years go by,
the process of producing coins becomes more difficult—and even more
energy-consuming.
However, JP Morgan said that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin mining revenue grew in November amid the
surging price of BTC, which came within a few hundred dollars of the $100,000
mark for the first time late last month.
Edited by Andrew Hayward
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