Foundry, a major mining pool and a subsidiary of DCG, has recently laid off 60% of its workforce, focusing on non-core functions such as the hardware team and potential sale of mining site operations. Despite these layoffs, DCG founder Barry Silbert is launching new initiatives like the Yuma AI Ecosystem Accelerator. Foundry, the world's largest Bitcoin mining pool, confirmed the layoffs but emphasized a strategic shift towards core business and support for DCG's subsidiaries. This move is part of a larger realignment within DCG, with Foundry being just one of its operations. The layoffs primarily affected non-core employees, with some being reassigned to Yuma. The company's financial health remains uncertain, as it previously projected significant revenue growth. The mining industry's challenges, including high difficulty levels and diminishing returns, have also impacted Foundry's operations. Read more AI-generated news on: https://app.chaingpt.org/news