Bitcoin Mining with Mike Colyer of Foundry

In this episode, the yWhales team speak with Mike Colyer, Founder and CEO of Foundry. As a DCG company, Foundry empowers miners with the tools they need to build tomorrow’s decentralized infrastructure. Mike takes a deep dive into mining, laying the foundation of blockchain technology and the future of crypto. Mike discusses why Bitcoin is here to stay. He also talks about The Foundry Academy, a training and education program for mining technicians, and how it was created to meet the institutional demand for better capital access, efficiency, and transparency in the digital currency mining and staking industry.

 

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Mike Colyer’s LinkedIn: https://www.linkedin.com/in/colyermike/

Foundry Digital Website: https://foundrydigital.com/

LinkedIn: https://www.linkedin.com/company/foundrydigital/

Twitter: https://twitter.com/foundryservices

 

About Guests

Mike joined Foundry as its founding CEO in October 2019. Previously, Mike focused on business development at Core Scientific, which is now North America’s largest cryptocurrency hosting company. He was the President and COO of Savage IO, a small, Western NY-based 3MW mining company. 

Mike has spent the last 5 years navigating the large-scale mining space, building strong relationships with key industry participants. Before his pivot into the crypto industry, Mike was an operational and commercial executive for manufacturing and distribution firms for more than two decades, often serving at the behest of private-equity backers. Mike started his career at GE. 

In 2007, Mike and his wife, Lisa, co-founded the Clairebear Foundation, a non-profit that supports families with sick children. Mike graduated from the State University of New York at Buffalo with a Bachelor of Science in Civil Engineering and an MBA in Corporate Finance.

 

You’ll learn about:

• What is Digital Currency Group (DCG) and what it means to be a part of this holding company
• Why Mike makes decisions based on decades of experience and how it helps him navigate the industry
• How Foundry became the largest bitcoin mining pool in the world

 

Timestamps

[01:58] Mike’s Background 

[07:57] About Digital Currency Group (DCG)

[13:03] About Foundry

[15:46] Building Foundry

[24:03] Thesis on PoW and PoS

[36:01] The future of mining

[37:41] Foundry Team

[39:43] Navigating the regulatory space

[46:49] On BTC cycles

[48:49] How to contact Mike and Foundry

DISCLAIMER: yWhales is not affiliated with YPO but at this time only allow for YPO, YPO Gold, and YNG members due to privacy & confidentiality. Support and production for today’s episode was done by Truth Work Media. Nothing in the podcast constitutes professional and/or financial advice, nor does any information on the podcast constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.