Digital Currency Group (DCG) launched Fortitude Mining on Jan. 29, 2025, establishing a standalone subsidiary focused on mining bitcoin and emerging digital assets. The new entity is led by Andrea Childs, formerly Foundry’s senior vice president of operations and marketing, signaling a more specialized structure for DCG’s mining ambitions.
Spun out from Foundry’s self-mining arm
Fortitude Mining originated from Foundry’s self-mining division, according to the company’s announcement. Foundry has operated the world’s largest bitcoin mining pool since 2022, making the spin-off a notable step in DCG’s effort to separate infrastructure-heavy mining operations from its core pool and software business. Foundry CEO Mike Colyer will remain in place and continue overseeing the company’s mining pool and software units.
DCG founder Barry Silbert said Foundry’s established mining fleet and revenue base created the foundation for Fortitude’s launch. In his view, operating Fortitude as a separate company should create more room to raise capital, make additional investments, and attract top-tier talent as the business grows.
Expansion plans rely on existing capital and infrastructure
Fortitude’s near-term strategy centers on scaling with the help of existing infrastructure and capital resources. The company said it reinvested 2024 profits into new mining equipment and had already allocated funds during 2024 to upgrade hardware. Looking ahead, it also plans to acquire additional mining sites in 2025 to broaden its operational footprint.
The company has also brought over employees from Foundry to strengthen execution. Childs brings six years of industry experience, which DCG highlighted as part of the leadership foundation for the new subsidiary.
DCG further segments its mining strategy
The move does not alter Foundry’s core role in the market. Instead, Foundry will remain focused on its bitcoin mining pool and software services, while Fortitude will pursue broader mining opportunities, including assets beyond bitcoin in developing crypto ecosystems. DCG did not disclose financial targets or specify which non-bitcoin assets Fortitude may prioritize.
Foundry’s pool currently contributes about 239.18 EH/s to the bitcoin network, compared with a global total of roughly 781.7 EH/s. That puts its share of network hashpower at just over 30%. Against that backdrop, the Fortitude spinout suggests DCG wants to preserve Foundry’s strength in pool services while creating a separate vehicle for direct mining expansion and exposure to emerging digital asset ecosystems.