Foundry has announced a new initiative that allows U.S. miners to donate part of their mined Bitcoin to blockchain developers. Starting in early 2024, this program aims to support the Bitcoin ecosystem by connecting miners with IRS-approved non-profits.
Named Foundry Donate, the program automates on-chain donations, enabling recurring contributions to vetted organizations. Initially, miners can donate to Brink and OpenSats, with plans to expand the list. Foundry has committed 0.2 BTC to each, and Core Scientific has donated 1 BTC.
To date, Bitwise has pledged 10% of its Bitcoin ETF profits, and VanEck has committed 5% of its potential profits to support Bitcoin developers. This initiative is a significant step in empowering decentralized infrastructure and ensuring sustained development of the Bitcoin network.
The long-term importance of this initiative lies in its potential to foster innovation and security within the Bitcoin ecosystem, benefiting all stakeholders involved.
