DCG’s Bold Dance of Spin-offs: Fortitude Mining Takes the Stage! 💃🪙

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In a seismic shift echoing through the corridors of financial absurdity, the Digital Currency Group (DCG) has unveiled Fortitude Mining, a fully-owned offspring concocted to plunge into the tempestuous seas of venture mining opportunities entwined with an assortment of digital assets. What a sight to behold! 🎪💰

This fresh endeavor, sprouting from the roots of Foundry—DCG’s mining juggernaut—comes after five years of relentless labor, during which Foundry has claimed the title of the world’s largest Bitcoin mining pool. Yes, larger than your uncle’s fish tales. 🎣

Fortitude Mining: The Heir Apparent of Foundry’s Mining Empire

As per the proclamation (effectively a digital herald), Fortitude Mining has set its sights on excavating Bitcoin and other rapidly flourishing digital assets within promising new ecosystems. A veritable gold rush, if you will! DCG has essentially executed a corporate “child, it’s time to live on your own” spin-off from its Foundry subsidiary.

At the helm of this grand venture is Andrea Childs, formerly the Senior Vice President of Operations & Marketing at Foundry, now entrusted with the crown as CEO of Fortitude Mining. Meanwhile, Mike Colyer, the venerable founder of Foundry, will continue to hold the reins of the parent beast. 🤴🏻👸🏻

Fortitude Mining aims to churn out returns by wielding its mining prowess and an arsenal of industry alliances—a veritable alliance of the heavy hitters of the crypto underworld!

DCG’s chieftain, Barry Silbert, proclaimed that the separation of Fortitude Mining presents the chance for this new venture to hunt for bigger prizes, including capital-raising adventures, investments galore, and an endless chase for talented minds.

“Once a mere cog in the Foundry Services machine, Fortitude Mining is now au courant, initiating a bold venture mining model that provides a diversified feast of crypto delights and engages early adopters in the flourishing domain of Proof of Work ecosystems beyond the confines of Bitcoin,” Silbert waxed philosophical on X. 🧐

Since its inception, Foundry emerged from its chrysalis, blooming into the leading Bitcoin mining pool since January 2022—an impressive pedigree to signal Fortitude Mining’s potential to rise and shine! ✨

“Launching Fortitude Mining as a separate DCG subsidiary represents a groundbreaking leap, affording the enterprise the chance to forge ahead in the profitable odyssey of self-mining,” mused Mike Colyer, Foundry’s fearless captain.

In 2024, Fortitude Mining invested heavily in shiny new mining machines, ensuring a robust fleet that operates at the peak of efficiency—while other industries struggle to keep the lights on. With every flash of cash flow, they aim to funnel resources back into further expansions and infrastructural marvels come the year 2025—an optimistic posture in a turbulent world. 🚀

Meanwhile, Foundry will persist in its operations, maintaining its status as protector of the Bitcoin mining pool while reaping the rewards of Fortitude Mining’s newfound liberties. Savvy, wouldn’t you agree?

This latest escapade of corporate maneuvering follows a chilling December revelation that Foundry—like a ship shedding rust—laid off a staggering 60% of its crew, targeting non-essential functions with a sword’s edge, leaving its hardware squad on the cutting room floor!

Moreover, the 2023 saga unfolded with the story of the bankrupt crypto lender Genesis filing a lawsuit against DCG, its parent entity, over debts left unpaid—like a bad roommate who always forgets to chip in for pizza! 🍕🤦‍♂️

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2025-01-30 16:25