Major Bitcoin Mining Pool Foundry USA to Introduce Fee Structure

Crypto-mining firm Foundry, a subsidiary of the Digital Currency Group (DCG), has announced it will begin charging users a fee for its Bitcoin mining services. The Rochester, New York-based company has been offering free services since

The company stated that the new tiered fee system will enable it to expand its feature set and maintain its Full Pay Per Share (FPPS) payout model. The pricing tiers for each quarter will be determined by the previous quarter’s average hashrate, a measure of computing power.

As a major Bitcoin mining pool, Foundry’s “zero-fee” pricing structure contributed to its success. Data from btc.com shows that it is the largest Bitcoin mining pool globally, with a network share of approximately 36%. In addition to mining services, Foundry also provides crypto staking services.

DCG, Foundry’s parent company, has faced scrutiny from US authorities this year regarding its internal financial dealings. In January, Genesis, DCG’s crypto lending unit, filed for bankruptcy with billions of dollars in liabilities following the collapse of Sam Bankman-Fried’s FTX crypto exchange.