The digital currency group (DCG) transforms the auto-mine unit of its foundry subsidiary into a separate company called Fortitude Mining which will operate Crypto through a range of digital assets, the company announced on Wednesday.
What makes rectitude different is that it will use not only Bitcoin (BTC), but also other protocols of proof of work, by emphasizing high yield tokens.
Andrea Childs, previously employed as the main vice-president of operations and marketing at Foundry, was appointed CEO of Mining Fortitude. Mike Colyer remains the CEO of Foundry, which provides digital asset infrastructure to the cryptographic ecosystem.
“File of Fortitude Mining offers greater growth opportunities to further evolve the company, in particular capital collection, the production of additional investments and the attraction of high -level talents,” said Barry Silbert, founder and CEO of DCG, in a press release.
DCG is looking for strategic partners such as venture capital companies, to invest in Fortitude, said Childs in an interview with Coindesk and has received potential interest in equity and debt of the mining company.
Fortitude plans to reinvest the cash flows in new hardware and site acquisitions in 2025. Its current mining fleet is very effective, said Childs.
