Foundry, the world’s largest Bitcoin mining pool by hashrate, has 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 740 exahashes per second — 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.