Deep Tide TechFlow News, on December 4, according to Blockspace, the world's largest Bitcoin mining pool Foundry today laid off nearly one-third of its staff. Foundry CEO Mike Coyler stated that the company's workforce will be reduced from 274 to 200 employees, a decrease of 27%, of which 16% are U.S. employees. Foundry management individually notified employees before holding a team meeting this afternoon.

According to informed sources, the layoffs are a strategic move to consolidate its main revenue sources, which is occurring simultaneously with a larger business restructuring effort.