The largest mining pool by hash rate share will not offer its services for free, according to a notice sent to customers.
Foundry, the Bitcoin mining arm of the Digital Currency Group, will stop offering its services for free, according to a notice distributed to customers as follows: mentioned By bloomberg.
The company has been offering its mining pool services for free since 2019 which has contributed to their significant growth, as they now hold the largest share of the hash rate estimated at more than 30%.
The notice states that mining pool fees will be categorized based on the average hash rate for the previous quarter. The change is expected to go into effect between April 19 and April 22.
DCG’s crypto lending unit, Genesis, has filed for bankruptcy as one of the latest dominoes following the collapse of Sam Bankman-Fried’s FTX exchange.
Bitcoin mining companies faced a rocky 2022, with many “fighting for survival,” as Bitcoin Magazine PRO analysts put it. But despite necessary moves such as public mining giant Marathon Digital selling bitcoin for the first time in company history, good news has emerged from the industry as 2023 kicks off, such as the announcement of the commissioning of the Terawulf nuclear facility, the expected 50 megawatt expansion of CleanSpark, and more. .
This move by Foundry may be a support effort designed to better mitigate the effects of seasons like the one that occurred in late 2022.
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