Foundry CEO Mike Colyer steps down after seven years leading the world's largest Bitcoin mining pool; will serve as strategic adviser during transition.
Macro & Markets ·
Mike Colyer is departing from his role leading Foundry USA, the world's largest bitcoin mining pool. After a seven-year tenure, during which he established the operation in 2019 and expanded it from a solo venture to serve institutional miners at scale, Colyer will transition out of the CEO position. The company confirmed he will take on a strategic advisory capacity for the next six months to support leadership continuity and the recruitment process for his successor.
The timeline for finding a replacement CEO remains unspecified. Colyer's six-month advisory window provides a defined period for knowledge transfer, though the company has not outlined whether this spans the full search duration or represents a separate engagement. No details have been disclosed regarding interim leadership arrangements or the candidate profile the organization is pursuing.