DCG Launches Fortitude Mining, Diversifying Crypto Offerings; D.E. Shaw Builds Stake in Riot Blockchain

Digital Currency Group (DCG), the parent company of Grayscale, has launched a new subsidiary, Fortitude Mining, with a focus on cryptocurrency mining. This strategic move aims to enhance DCG's offerings to institutional investors by diversifying their exposure to mining-related assets. Fortitude Mining will operate independently, separating from its previous affiliation with Foundry's decentralized mining and staking services.

Andrea Childs, who joined Foundry in 2020, will lead Fortitude Mining. Her valuable experience will be pivotal as DCG seeks to reinforce its position in the competitive crypto market. By establishing this standalone mining operation, DCG is responding to the growing interest in digital assets and positioning itself to capitalize on the evolving landscape of cryptocurrency investments.

In other news, hedge fund company D.E. Shaw has built a position in Riot Blockchain (RIOT.O), potentially pushing for changes at the company. This makes D.E. Shaw the second activist shareholder in the cryptocurrency mining company. However, the size of D.E. Shaw's stake in Riot remains unknown, and neither Riot nor D.E. Shaw has commented on the matter.