Foundry USA is now the second biggest Bitcoin mining pool

The ban of China on Bitcoin mining and trading operations made Foundry USA the second largest Bitcoin mining pool network.

The whole world knows very well how China banned the first crypto mining operations from the nation and after that, they banned all crypto trading services from China and also warned all the crypto exchanges not to provide any kind of crypto-related services. All that forced the big mining companies to move towards crypto-friendly countries and also motivated many other Bitcoin mining firms to take advantage of the china ban to expand the business of Bitcoin mining. 

In the latest, New York-based crypto-mining service provider Foundry USA is leading at the second position in the list of top Bitcoin mining pools. Right now, this firm has a share of around 15.42% in the Bitcoin mining network. 

According to the data available at BTC.com, Foundry USA’s group of miners have very high hash power and all together are only lagging behind the Antpool just by 4,000 PH/s. This is a clear indication that Foundry USA is going to reach the level of Antpool. Antpool has around 17.76% contribution in the network hash rate by keeping the position at the top. 

Collin Wu, the Chinese crypto blogger, shared this news and claimed that it is all a part of China’s ban and the move of the Chinese mining firms toward the United States is the main reason for this surge. 

 Kevin Zhang, the vice president at Foundry USA, said that they are sharing the mining income to the miners at zero fees. He added: 

“we redistribute the block reward to miners via a Full-Pay-Per-Share (FPPS) payout scheme, and our pool fees are 0%.”

Now only in terms of Bitcoin mining operations, In Bitcoin ATM operations also shows that Georgia-based Bitcoin depot operator became the leading Bitcoin ATM operator in the world, according to CoinATMradar data. 

Read also: El Salvador banks say “banking and Bitcoin both sides have advantages”