As part of the agreement, Foundry will supply 14,000 MicroBT Whatsminer M30S mining devices that will be hosted at Compute North colocation facilities in the United States.
Compute North said it will allocate 47MW of power to these devices beginning in Q1 2021.
“We have been hosting mining devices with Compute North for more than one year now and it is one of our preferred hosting providers for our clients,” said Mike Colyer, CEO of Foundry.
“This partnership will further strengthen our relationship as we make bitcoin mining more accessible to institutional investors and businesses in North America.”
After the first batch of procured devices comes online, most of the devices will be available for purchase, the company revealed.
Investors will have the opportunity to purchase the operating devices directly from Compute North or finance them through Foundry with a down payment and get the mining machines running at Compute North’s facilities after purchase.
“Our focus on operational excellence and low costs has helped us become the preferred crypto colocation service provider in North America,” said Dave Perrill, founder and CEO of Compute North.
“Foundry is a key, trusted partner and we look forward to providing the same great experience to those who choose to partner with us.”
The company claim that demand for both mining devices and financing options for the devices continues to increase as bitcoin mining receives growing interest and attention in the market.
“Bitcoin mining’s rising profitability and historic drop in difficulty have recently propelled this demand,” said the company in a written release.
“To meet this demand, Foundry recently partnered with MicroBT to secure access to future batches of MicroBT Whatsminer M30S devices.”
