Foundry Backs Bitcoin Developers with a Non-Profit Initiative

• Foundry has announced a new initiative to support Bitcoin developers.
• The program will pool donations from Bitcoin miners.
• Two miners have already donated to the initiative.

Decentralized infrastructure company Foundry has announced a new initiative to support “core developers” on the Bitcoin network through donations from miners.

Dubbed Foundry Donate, the initiative connects crypto miners in the Foundry USA Pool with nonprofit organizations (NGOs) that fund Bitcoin developers. Eligible NGOs must be vetted by Foundry and approved by the IRS as 501(c)(3) entities.

Transparent Donations to Bitcoin Developers

In the official statement , Foundry said the program features an automated on-chain system enabling miners to designate the amount and frequency of their mined Bitcoin donations to an NGO of their choice.

The designated donations are directly channeled to chosen nonprofits via fully transparent transactions, which are verifiable on Bitcoin’s blockchain. Foundry has partnered with Brink and OpenSats for the program’s initial phase.

Per the statement, Foundry has committed 0.2 BTC from its mining operations to the two nonprofits to kickstart the initiative, while Core Scientific has already donated 1 BTC.

Russell Cann, Chief Development Officer of Core Scientific, lauded the development, noting that it underscores the need to support those working behind the scenes to secure and ensure the Bitcoin network’s longevity.

“Foundry and Core Scientific have worked closely together to develop this capability by leveraging Foundry USA Pool. Foundry Donate opens the doors for miners to easily give back to the broader bitcoin community through a trusted and reliable platform, and we are excited to see this come to fruition,” Cann stated.

The statement did not clarify whether other nonprofits would be admitted into the program in the future.

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