Foundry is introducing a new program that allows miners to contribute a portion of their mined coins to Bitcoin developers.

Bitcoin mining firm Foundry announced in a recent press release their initiative aimed at supporting the Bitcoin ecosystem. This program enables U.S. miners to donate a part of their mined coins to blockchain developers.

Named Foundry Donate, this initiative connects miners in the Foundry USA Pool with IRS-approved 501(c)(3) organizations, facilitating direct donations to core developers. The New York-based firm ensures that all donations are settled automatically on-chain, allowing for recurring contributions to vetted non-profits.

Foundry CEO Mike Colyer states that the initiative aligns with the firm’s mission to “empower decentralized infrastructure.”

Initially, miners can choose between two non-profit organizations — Brink and OpenSats. Foundry plans to expand this list soon. The firm has already committed 0.2 BTC from its own mining operations to each of these non-profits, and Bitcoin miner Core Scientific has donated 1 BTC.

In early 2024, crypto asset management firm Bitwise plans to allocate 10% of its profits from the Bitwise Bitcoin ETF to support Bitcoin open-source development. These funds will benefit Brink, OpenSats, and the Human Rights Foundation, as part of their effort to show appreciation to Bitcoin network developers and researchers. Similarly, investment firm VanEck has pledged to allocate 5% of potential profits from its proposed spot Bitcoin ETF to support Bitcoin core developers at Brink.

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