Foundry Digital, the operator of the leading Bitcoin mining pool Foundry USA, is expanding its services to include Zcash mining. The new pool, set to launch next month, aims to attract publicly traded companies and financial institutions seeking to validate Zcash transactions.
Foundry CEO Mike Colyer stated that Zcash has matured into an institutional-grade asset playing a critical role in advancing financial privacy. The Zcash pool will mirror the operational model of Foundry USA, which currently underpins approximately 31% of Bitcoin's total hashrate. Foundry's expansion is driven by a perceived market gap rather than current Bitcoin mining profitability, with a focus on mitigating compliance and counterparty risks by operating within the U.S.
The new offering will include round-the-clock technical support and auditable payout reporting tools. Zcash, a privacy-focused cryptocurrency, has seen its price surge over 600% in the past year. Like Bitcoin, Zcash utilizes a proof-of-work consensus mechanism, requiring significant computational power to secure the network and earn rewards. Foundry's move signifies a strategic diversification into a growing segment of the cryptocurrency market.