Bitcoin miner Foundry has laid off 27% of its staff during a planned restructuring, sources say that this layoff includes 16% of Foundry's U.S. employees and some of the Indian team.

Foundry's parent company DCG revealed plans to spin off Foundry's self-mining business into an independent entity, but still controlled by DCG. According to data from Hashrate Index, Foundry operates the world's largest Bitcoin mining pool, Foundry USA, which controls about one-third of the market share of pool operators.