DCG Expands Into Mining With New Subsidiary

Fortitude Mining spins out from Foundry, DCG’s decentralized infrastructure company that provides software and services to institutions.

As part of a broader strategy, Foundry has built a successful self-mining business, operating since January 2019.

With this move, the company aims to scale the business, raise capital, make investments, and attract new talent. In an announcement, the company mentioned that its new venture will target Bitcoin and other high-growth digital assets to achieve strong returns. 

Fortitude Mining mentions on its website that they aim to create a strong portfolio of diversified mining assets describing themselves as “return maximalists” and not “Bitcoin maximalists.” 

Andrea Childs, the CEO of the company mentioned that they are well-positioned to compete in the industry: 

With significant cash flow and strong relationships built over five years in the industry at Foundry, Fortitude Mining is well-positioned with the necessary scale and differentiation to create a superior portfolio of mining assets,

she said. 

As more big players get into Bitcoin mining, the difficulty increases. This means miners would need to upgrade their equipment and find better energy solutions to keep up with the increasing competition and maximize their profits.