Articles for tag: altcoin mining, Bitcoin, crypto mining, Cryptocurrency, Digital Currency Group, Fortitude Mining, mergers and acquisitions

January 30, 2025

Digital Currency Group Launches Cutting-Edge Altcoin Mining Powerhouse for Enhanced Cryptocurrency Opportunities and Growth

Digital Currency Group has launched a new crypto mining subsidiary called Fortitude Mining, marking a significant shift towards altcoin mining. This initiative was announced on January 29 and separates Fortitude from Foundry, DCG’s leading Bitcoin mining and staking operation. Andrea Childs, who previously held an important role at Foundry, will lead Fortitude. While Foundry remains ...

January 18, 2025

Market News

Crypto

DCG to Pay SEC $38.5 Million for Misleading Investors: What You Need to Know about the Settlement

Barry Silbert, the CEO of Digital Currency Group (DCG), and former Genesis Global Capital executive Soichiro “Michael” Moro will pay $38.5 million to settle SEC charges. They misled investors about Genesis’s financial status before it declared bankruptcy in January 2023 after facing issues from the collapse of FTX. The SEC criticized DCG and Moro for ...

December 4, 2024

Market News

Crypto

Foundry Reduces Workforce by 60% Amidst DCG-Backed Bitcoin Mining Challenges and Market Shifts

Foundry, a major Bitcoin mining firm, has laid off about 60% of its employees, reducing its workforce from 250 to around 80-90. This decision, affecting staff in the U.S. and internationally, is part of a strategic realignment despite the company expecting to generate $80 million from its self-mining operations this year. Foundry, which is a ...