The world's largest BTC Mining Pool operator Foundry has laid off 27% of its employees.

On December 4th, according to informed sources cited by Cointelegraph, Foundry, the world's largest BTC Mining Pool operator, is planning to lay off 27% of its workforce in the restructuring process. The layoffs include 16% of the Foundry US team and a portion of the Indian team, the sources said. Foundry's parent company DCG revealed in a November shareholder letter that it plans to spin off Foundry's self-mining business into an independent entity still controlled by DCG. In a statement, Foundry said, 'We recently made strategic decisions to focus on developing Foundry's core business - operating the world's top BTC Mining Pool and expanding our on-site operations, while supporting the development of DCG's new subsidiaries, including the successful spin-off of Foundry's self-mining business.' 'As part of this adjustment, we made the difficult decision to reduce the number of Foundry employees, resulting in layoffs across multiple teams,' the team said. According to Hashrate Index data, Foundry operates Foundry USA, which is the world's largest BTC Mining Pool, controlling about one-third of the Mining Pool operator market.