Crypto conglomerate DCG launches new altcoin-mining business
“We are return maximalists, not Bitcoin maximalists.”
There’s more to crypto than just bitcoin.
Digital Currency Group, the industry titan with a portfolio of more than 200 crypto-focused investments, announced this morning that it had launched a new stand-alone subsidiary that would mine altcoins in addition to bitcoin.
“Fortitude Mining, with deep expertise in Bitcoin mining, is uniquely positioned to institutionalize mining in emerging ecosystems with attractive return profiles,” Fortitude explains on its site. “We are return maximalists, not Bitcoin maximalists.”
Fortitude Mining is an offshoot of DCG’s bitcoin mining and infrastructure company, Foundry. In a press release, Fortitude said it plans to grow this year by purchasing additional mining rigs and facilities.
While DCG is now in growth mode, it’s had a rocky few years. The company sold crypto media site CoinDesk in 2023, the same year the New York attorney general sued the company over allegations of a $1.1 billion fraud, later expanded to $3 billion. DCG sought to be dropped from the case and said it was built on “baseless innuendo.”
