Foundry Launches U.S. Marketplace To Match Buyers And Sellers Of Bitcoin Miners

Original author: Namcios

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The U.S.-based secondary market, FoundryX, currently has access to over 40,000 bitcoin mining machines ready for resale.

Foundry Digital LLC has launched a marketplace to match interested buyers and sellers of bitcoin mining machines, the company said in a statement sent to Bitcoin Magazine.

FoundryX seeks to cut down waiting times and bureaucracy for U.S.-based buyers looking to acquire new rigs, ensuring timely delivery of mining rigs compared to the lengthy process necessary to import them from Asia. Foundry’s secondary market attempts to match the right buyers and sellers at competitive prices.

“Global semiconductor chips shortage and supply chain issues have made it difficult for North American mining businesses to procure machines from Asia on time,” per the statement. “There has also been a sudden influx of new resellers that require significant wire deposits to reserve machines, which has made the process even more challenging.”

Foundry said it works with major manufacturers and a network of resellers to acquire machines in big lots, later making it available for resale in its marketplace.

“With the industry’s leading clients and partners, from machine manufacturers to mining companies, we have the market knowledge and data to match the right buyers and sellers, at the right price,” Jeff Burkey, VP of business development at Foundry, said in a statement.

FoundryX leverages Foundry’s network of more than 200 buyers and sellers of bitcoin mining equipment to reduce the time to buy and receive a bitcoin miner in the U.S.

The Rochester, New York-based company said it had secured over 40,000 of latest-generation MicroBT and Bitmain bitcoin mining machines for immediate delivery through next year. The advisory company also provides clients with additional services on demand, including financing, shipping, logistics, and pooled mining.

The firm’s bitcoin mining pool, Foundry USA Pool, is one of the largest mining pools in North America. Prominent participants include Hut 8, HIVE, Greenidge, CleanSpark, and Bitfarms.