Foundry, the Bitcoin mining subsidiary of Digital Currency Group is set to begin charging fees for its pool mining services since it had been providing them to customers without cost since 2019. The notice sent out to clients indicated that the fees will be determined based on the average hash rate per quarter. It's expected that this move will take effect from April 19 to April 22.
The announcement comes at a time when the crypto lending unit of DCG, Genesis, is filing for bankruptcy due to the collapse of FTX (Sam Bankman-Fried’s exchange). The last year has been especially challenging for Bitcoin miners, with most of them fighting for their survival.
Despite these circumstances, 2023 has seen some positive developments in the industry. Terawulf started operating a nuclear facility and CleanSpark announced an expansion of 50 MW. Foundry's move of charging fees could be seen as a strategic plan to help the miners cope better with the tough market conditions.
Lincoln James
- 2023-04-07
Foundry to Charge Fees for Pool Mining Services
Foundry, subsidiary of Digital Currency Group is set to begin charging fees for its pool mining services since 2019. The fees will be determined based on the average hash rate per quarter. This move will take effect from April 19.
