Bitcoin miner Foundry acquires web3 firm Upstate Interactive

Startups • April 27, 2022, 9:01AM EDT
The Block

Digital Currency Group mining subsidiary Foundry has acquired Upstate Interactive, a web3 software development and consulting company.

Upstate Interactive worked on UI/UX development for Foundry’s staking business, which was launched in November of last year, according to a joint announcement issued Wednesday.

The firm's capabilities will now be integrated into Foundry's offerings, per the announcement.

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Foundry also launched a marketplace to sell bitcoin mining machines last year named Foundry. After opening a bitcoin mining pool, it quickly grew to be one of the largest in the world.

Both companies are based in New York state.

“This acquisition will build on our mission to shape the future of decentralization from right here in Upstate New York,” said Foundry CEO Mike Colyer.

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Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).

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