TechFlow news — On December 4, according to Blockspace, Foundry, the world's largest Bitcoin mining pool, laid off nearly one-third of its workforce today. Foundry CEO Mike Coyler stated the company reduced its headcount from 274 to 200, a 27% reduction, including 16% of U.S.-based employees. Employees were individually notified by Foundry management prior to a team meeting held this afternoon.
According to sources familiar with the matter, the layoffs are part of a strategic move to strengthen the company’s core revenue streams, coinciding with broader organizational restructuring efforts.
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