Fractal Bitcoin Now Commands 93% of Network Hashrate as Foundry Throws Weight Behind Mining Coalition

Bitcoin’s mining landscape just got a seismic shift—Fractal Bitcoin now controls a staggering 93% of the network’s hashrate after mining giant Foundry USA joined its coalition. That’s enough to make even the most hardened crypto libertarians sweat about centralization risks.

Hashrate hegemony: With Foundry’s 15% contribution, Fractal’s coalition now effectively dictates Bitcoin’s computational backbone. Miners outside the club? Good luck finding blocks.

The irony isn’t lost: A currency designed to resist institutional control now sees its fate shaped by what looks suspiciously like a mining cartel. But hey—at least the Wall Street suits will love the ’stability.’

How Fractal Bitcoin convinced miners to join

Most crypto miners use their resources to mine on several chains, such as Bitcoin, Litecoin, Doge, or Monero. This is despite the fact that mining on each network typically requires separate computing and energy resources. Still, depending on token prices and mining difficulty, it is advantageous to split resources.

Fractal and Bitcoin use the same hashing algorithm, SHA-256. Notably, networks that use the same hashing algorithm support merged mining. This means that miners can secure both networks at once, using the same computing power they would when securing just one chain.

For this reason, Fractal Bitcoin can easily onboard Bitcoin miners who can get additional rewards without much cost. However, Bitcoin miners don’t get all the rewards, as Fractal Bitcoin uses the Cadence Mining model.

This model splits block rewards between merged and permissionless mining, with one-third of the rewards going to Bitcoin miners. The other two-thirds go to anyone with the right hardware. This broadens access, as potential miners don’t have to rely on costly BTC mining infrastructure.