Financial Insights That Matter
Foundry, the world’s largest Bitcoin mining pool by hashrate, announced it’s diversifying its operations and bolstering the security Bitcoin layer-2 network Rootstock through merge mining.
Merged mining allows miners to simultaneously mine two or more cryptocurrencies that employ the same hashing algorithm without compromising the overall mining efficiency.
The move injects 200 exahashes per second to bring Rootstock’s total to 740 EH/s — roughly 80% of the total computing power currently securing the Bitcoin network — to secure Rootstock transactions.
For Foundry, this represents a new revenue opportunity, as Bitcoin mining pools choosing to merge mine earn 79% of Rootstock’s transaction fees paid in rBTC, while leveraging their existing Bitcoin mining infrastructure.
By merge mining, Foundry enhances Rootstock’s security without additional energy costs, contributing to a more robust and innovative Bitcoin ecosystem. Rootstock is a Bitcoin layer-2 network that leverages the network’s security while bringing in smart contract functionality and Ethereum Virtual Machine compatibility.
CORRECT (Feb. 6, 16:10 UTC): Corrects amount injected by Foundry to 200 EH/s, taking Rootstock’s total to 740 EH/s throughout. An earlier version of this story said Foundry added 740 EH/s.
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.