Foundry, a wholly owned cryptocurrency mining subsidiary of Digital Currency Group, or DCG, has entered the peak ten largest Bitcoin (BTC) mining pools in the world.

The house'southward CEO, Barry Silbert, announced the news on Tuesday, predicting that Foundry volition before long intermission into the top five mining pools list.

At publishing time, Foundry has a total hash rate of two.74 exahashes per second, according to data from cake explorer BTC.com. The mining pool is responsible for 1.85% of the total global hash rate.

Source: Btc.com

The news comes before long after Silbert announced that global Bitcoin miners will be able to join the Foundry puddle starting in Feb. The CEO besides expressed optimism most the United States' mining ability, predicting that Foundry will "soon go the largest U.S.-based bitcoin mining puddle."

Officially introduced by DCG in August 2020, Foundry is however far from the globe's top mining pools like F2Pool and Binance Pool in terms of hash rate. Communist china-based F2Pool — the largest mining pool, comprising 18% of the total hash charge per unit — is generating a hash rate of more 24 EH/s at publishing time.

Launched past Binance in April 2020, Binance Pool is now the second-largest mining pool, responsible for near 13% of total global Bitcoin mining power. The pool's hash charge per unit amounts to 19.sixteen EH/s at publishing fourth dimension.

As Cointelegraph reported on Friday, F2Pool'southward activity was probable a major reason behind Bitcoin's recent sell-off, resulting in its price dipping below $29,000.