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China Is ‘No Threat To Bitcoin,’ Promises Foundry CEO After $100 Million Bitcoin Mining Bet

Bitcoin mining is big business. In just ten years, bitcoin mining, where bitcoin tokens are rewarded to those that maintain the bitcoin network, has morphed from a bedroom-based, money-making hobby into a billion dollar industry.

Digital Currency Group, a venture capital company that owns digital currency investing firm Grayscale, digital currency prime broker Genesis, and bitcoin and crypto news outlet Coindesk, this week unveiled its new subsidiary, Foundry—and will invest $100 million into mining bitcoin in North America over coming months.