Foundry Hashrate Falls; Colombia Pension Eyes BTC; ETF Outflows
Foundry USA sharply reduced hashrate amid winter storm Fern, Colombia’s second-largest private pension manager is preparing a Bitcoin exposure product, and US spot Bitcoin ETFs extended a five-day outflow streak.
Foundry USA hashrate drops 60% as miners respond to winter storm Fern
Foundry USA, the largest Bitcoin (BTC) mining pool by total hashing power, has curtailed hashrate by about 60% since Friday as winter storm Fern affects multiple regions across the United States. “Bitcoin hashrate on Foundry USA alone is down by nearly 200 exahashes per second (EH/s), or 60%, since Friday amid continued curtailment. Temporary block production has slowed down to 12 minutes,” TheMinerMag reported.
Foundry USA’s current hashrate is about 198 EH/s, representing roughly 23% of global pool hashrate, maintaining its lead over AntPool at about 16%, according to Hashrate Index data. The Weather Channel reported that the storm has left about 1 million residents without power, prompting US-based miners to reduce consumption to help manage peak demand and ease stress on the grid.
A breakdown of hashing power controlled by different Bitcoin mining pools. Source: Hashrate Index
Colombia’s second-largest pension fund to provide Bitcoin exposure
AFP Protección, Colombia’s second-largest private pension and severance fund manager, plans to launch an investment fund with exposure to Bitcoin. Juan David Correa, president of Protección SA, confirmed the initiative in an interview with local outlet Valora Analitik.
Correa said access will be limited and offered through a personalized advisory process to evaluate each investor’s risk profile. Only clients who meet defined criteria will be able to allocate a portion of their portfolios to Bitcoin (BTC). “The most important element is diversification,” Correa said, noting that eligible clients may choose to dedicate a percentage of their portfolios to this asset class.
Protección’s plan follows a similar move by Skandia Administradora de Fondos de Pensiones y Cesantías, which began offering Bitcoin exposure in one of its portfolios in September last year. With this launch, Protección would become the second major pension fund administrator in Colombia to add digital asset exposure.
Protección reveals Bitcoin fund plan. Source: Valora Analitik
US spot Bitcoin ETFs see $1.72B in outflows over five sessions
US-listed spot Bitcoin exchange-traded funds recorded $103.5 million in net outflows on Friday, extending a streak that began the previous Friday. Over five trading days — including a four-day week shortened by Martin Luther King Jr. Day on Monday — cumulative net outflows reached approximately $1.72 billion, according to Farside data.
The spot price of Bitcoin stands at $89,160 at the time of publication and has not surpassed the $100,000 level since Nov. 13, according to CoinMarketCap.
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