Foundry Expands Operations With Rootstock Merge Mining

According to CoinDesk, Foundry, the leading Bitcoin mining pool by hashrate, has announced its strategic move to diversify operations by enhancing the security of the Bitcoin layer-2 network, Rootstock, through merge mining. This approach allows miners to mine multiple cryptocurrencies using the same hashing algorithm without affecting mining efficiency. The initiative introduces 740 exahashes per second to secure Rootstock transactions, which accounts for approximately 80% of the total computing power currently safeguarding the Bitcoin network. This development presents a new revenue stream for Foundry, as Bitcoin mining pools that engage in merge mining can earn 79% of Rootstock’s transaction fees, paid in rBTC, while utilizing their existing Bitcoin mining infrastructure. By adopting merge mining, Foundry not only strengthens Rootstock’s security but also does so without incurring additional energy costs. This contributes to a more resilient and innovative Bitcoin ecosystem. Rootstock, a Bitcoin layer-2 network, enhances the network's security while integrating smart contract functionality and compatibility with the Ethereum Virtual Machine.