Bitcoin Basics, Mining Innovation & Building in Rochester – A Conversation with Foundry CEO Mike Colyer

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In this episode of The Wilmac Wire, hosts Emily Miller and Steve McDonnell sit down with Mike Collier, CEO of Foundry, a Rochester-based leader in decentralized infrastructure and the world’s largest Bitcoin mining pool.

Mike shares his path from GE and the private equity “operator” world to going all-in on Bitcoin after a deep dive in 2017, and why mining was the entry point that made the most sense. emily-millers-studio-daesw_wilm…
 He breaks down what a mining pool actually does, how Foundry supports miners at scale, and why energy, infrastructure, and grid dynamics are central to where mining happens across the U.S.

They also talk about why Foundry was built in Rochester, how Mike approaches recruiting and building talent locally while operating with a distributed workforce, and what Rochester can do to better elevate high-impact companies in its own backyard.

The conversation closes with Mike’s perspective on the evolving regulatory environment, why the industry is pushing for clearer rules of the road, and where he sees Bitcoin infrastructure headed next.

Here’s what you’ll hear about:
Mike’s career journey from GE and private equity to crypto
What Bitcoin mining pools do and why Foundry’s role is so significant
Why energy pricing and grid stability shape where mining happens
How Foundry is building in Rochester and tapping local talent
What regulation looks like now and what the industry is asking for

Episode Breakdown:
0:01 Intro and why this episode
3:39 Mike’s Rochester roots and career background
7:11 The 2017 Bitcoin rabbit hole and why mining clicked
12:12 Foundry’s mission and building mining infrastructure in North America
21:39 Recruiting talent in Rochester and building a distributed team
23:53 What Foundry’s mining pool does and who it serves
29:14 The regulatory landscape and why rules of the road matter
39:30 Why Rochester and what’s next for Foundry

Connect with the hosts:
Emily Miller: https://www.linkedin.com/in/emily-miller-666b66152/
Steve McDonnell: https://www.linkedin.com/in/stephen-mcdonnell-8659042b/
Mike Collier: https://www.linkedin.com/in/colyermike/

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