Odaily Planet Daily reported that informed sources disclosed that Foundry, the world's largest Bitcoin mining pool, is laying off 27% of its workforce during a planned restructuring, affecting 16% of Foundry's staff in the United States and some teams in India. A shareholder letter from November revealed that Foundry's parent company, DCG, plans to spin off Foundry's self-mining business into an independent entity, which will still be controlled by DCG. Foundry stated in a release: "We recently made a strategic decision to focus Foundry on our core business—operating the world's leading Bitcoin mining pool and growing our site operations business—while we support the development of DCG's latest subsidiary, including the spin-off of Foundry's self-mining business." The team also stated: "As part of this restructuring, we made the tough decision to reduce the number of Foundry employees, resulting in layoffs in multiple teams." (Cointelegraph)