Foundry USA Restructures, Implements Staff Reductions

In a strategic move to enhance operational efficiency, Foundry, a prominent player in the Bitcoin mining sector, has announced a restructuring plan. This includes a reduction in its US workforce, affecting approximately 16% of its employees. The company emphasizes that this decision is part of a broader initiative to optimize its business model and position itself for future growth. The restructuring also involves the separation of its self-mining operations into an independent entity. While difficult, this restructuring is viewed internally as a necessary step to navigate the evolving landscape of the cryptocurrency market and ensure the long-term success of Foundry and its related ventures.