DCG Spins Off Proprietary Bitcoin Mining from Foundry, Forming Fortitude Mining

Digital Currency Group (DCG) has spun off the proprietary Bitcoin mining division from its subsidiary Foundry, establishing a new wholly owned venture called Fortitude Mining.

In an announcement on Wednesday, DCG stated that Fortitude will focus on proprietary cryptocurrency mining, signaling potential expansion beyond Bitcoin into other proof-of-work blockchains.

The move confirms a prior report by Blockspace Media, which noted Foundry’s restructuring efforts in December to separate its proprietary mining segment known as Fortitude.

Andrea Childs, formerly Foundry’s Senior Vice President of Operations & Marketing, has been appointed CEO of Fortitude Mining. DCG also said that Fortitude invested in new mining equipment in 2024 and plans to reinvest further in machines and infrastructure in 2025.

Meanwhile, Mike Colyer will continue as CEO of Foundry, focusing on its core business of operating Foundry USA Pool, currently the largest Bitcoin mining pool by real-time hashrate. Foundry USA accounts for approximately 33% of all Bitcoin blocks mined in recent months.