Mike Colyer
Founding CEO (2019–2024) at Foundry Digital
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Mike Colyer is an American executive and mechanical engineer who served as the founding Chief Executive Officer of Foundry Digital, a subsidiary of Digital Currency Group (DCG). Drawing on over two decades of leadership experience at General Electric (GE) and Arrow Electronics, he built Foundry into a North American industrial mining powerhouse. Under his leadership from 2019 to 2024, Foundry USA Pool grew to become the largest Bitcoin mining pool in the world by hash rate.
- Foundry USA Pool Expansion Scaled Foundry USA Pool to represent 25%–30%+ of total global Bitcoin hashrate during its peak (2022–2023), establishing an audited FPPS (Full Pay Per Share) institutional mining framework in North America.
- ASIC Procurement & Capital Financing Pioneered institutional equipment leasing and capital procurement programs that financed tens of thousands of ASIC mining units for North American operators following China’s 2021 mining ban.
- Demand Response & Energy Grid Balancing Partnered with regional energy grid operators (including NYISO and ERCOT) to implement automated load-shedding systems, positioning mining data centers as flexible balancing loads for power grids.
| Years | Company | Role | Outcome |
|---|---|---|---|
| 2019 – 2024 | Foundry Digital | Chief Executive Officer | Founding CEO; scaled firm to peak #1 global mining pool. |
| 2017 – 2019 | Core BTS | Senior Vice President | Enterprise IT & Cloud Transformation Services. |
| 2013 – 2017 | Arrow Electronics | Executive Director | Global tech supply chain & enterprise sales execution. |
| Pre-2013 | General Electric (GE) | Engineering & Business Management | Industrial mechanical systems & leadership track. |
Through Foundry’s corporate venture arm and strategic industry allocations, Colyer oversaw early capital deployment, hardware financing, and incubation checks into Bitcoin infrastructure startups: