Foundry CEO Mike Colyer steps down after seven years at the helm

Mike Colyer has stepped down as CEO of Foundry, the Digital Currency Group subsidiary behind the world’s largest Bitcoin mining pool. His tenure lasted seven years. He isn’t leaving the building entirely. Colyer will stay on as a strategic advisor, which in corporate terms means his phone number still works but the org chart now points somewhere else. So far, nobody knows where it points. No successor has been publicly named, and the company has not shared details about how the handoff will work. The founding CEO exits Colyer joined Foundry in October 2019 and served as its founding chief executive. He built the company from a startup into a major piece of Bitcoin’s mining infrastructure. Foundry runs the biggest mining pool on the planet. Beyond the pool, Foundry has assembled a set of enterprise services aimed at miners, including hardware marketplaces and staking solutions. The staking piece is worth noting. Bitcoin doesn’t use staking, so that line of business points to Foundry looking past its original lane as the broader crypto market has shifted. No public reason has been given for Colyer’s departure. The company has not tied the move to any specific event or strategy change...