Foundry Digital, a mining subsidiary of Digital Currency Group (DCG), announced on Tuesday that it has joined the Texas Blockchain Council (TBC), a nonprofit industry group based in Texas. The newly established association will support Foundry’s efforts to “help create the regulatory framework for digital assets” in North America, according to Foundry.
Foundry is now a member of the Texas Blockchain Council’s Strategic Partner Program
Foundry Digital, a digital asset mining, staking, and advisory services provider, has joined the Texas Blockchain Council (TBC). TBC is a group of individuals and businesses dedicated to advocating for bitcoin and blockchain-related public policy initiatives.
The TBC website explains, “We exist to combine our members’ influence, to advocate for blockchain-centric public policy initiatives, to educate members of government about the benefits of blockchain technology, and to provide subject matter expertise on topics related to blockchain and distributed ledger technology.”
TBC president Lee Bratcher said in a statement, “Foundry is one of the most widely known names in the bitcoin mining industry.” “Their set of capabilities is world-class, from market information to mining pools to equipment financing. “The Texas Blockchain Council is delighted to welcome Foundry as our newest strategic partner,” Bratcher said.
Other TBC strategic partner members (SPMs) include well-known cryptocurrency companies like as Marathon Digital Holdings, Argo Blockchain, Blockware Solutions, and Core Scientific. Cholla Petroleum Inc., Rhodium, Hyland, and Vantage Bank Texas are among the other SPMs. Deloitte, Compute North, Luxor, Steelhead Capital Management, and Blockfills are among TBC’s corporate members.
TBC launched a Texas Blockchain Committee PAC in August 2021, following the passage of the US government’s infrastructure package. Prior to the TBC partnership, Foundry stated on March 3 that it had joined the Blockchain Association, a 70-member organisation. Foundry joined the Blockchain Association to “bring its experience and knowledge to Washington to shape the regulatory future of the crypto industry,” according to the business.
During the past year, Foundry has had a string of big deals and achievements. Foundry completed a 12-megawatt (MW) co-location arrangement with bitcoin mining operator Mawson Infrastructure Group the same week it joined the Blockchain Association (MIGI). Foundry debuted a set of services for a number of crypto staking networks in November, followed by a mining machine marketplace in December.
For the last three months, Foundry USA, the firm’s bitcoin mining pool, has been the leading mining pool, garnering 2,367 mining awards. Foundry’s director of public policy, Kyle Schneps, feels that joining the Texas Blockchain Council will benefit the cryptocurrency business. During the announcement on Tuesday, Schneps said, “This membership will help us continue to diligently define the policy narrative for our business.”
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.