Bitcoin (CRYPTO:BTC) miners are boosting their earnings by participating in Fractal Bitcoin's (CRYPTO:FB) merged mining process, capturing 226.19 exahash per second (EH/s) of Bitcoin’s hashrate.
Fractal Bitcoin operates as a sidechain to Bitcoin, allowing miners to generate additional income alongside the Bitcoin network's subsidy.
Data shows that a total of 40,354 Fractal Bitcoin blocks have been mined, circulating around 2,068,925 Fractal Bitcoin (FB) tokens.
Each FB token is currently valued at $12.91, bringing the total market value of FB to $26.8 million.
Mining pools like Antpool, F2pool, and Spiderpool are contributing significant hashpower to the network.
Antpool alone dedicates 82.34 EH/s to Fractal Bitcoin mining, making it one of the major players.
Fractal Bitcoin’s native asset, FB, saw a sharp rise last week, reaching an all-time high of $38.80.
However, it has since dropped by 61.9%, currently trading at $12.91.
Despite the drop, mining pools have continued to earn extra income by mining Fractal Bitcoin blocks.
Each block generates 32 to 34.5 FB tokens, translating to just under $495 per block at the current exchange rate.
Additionally, top wallets in the Fractal Bitcoin network control a significant portion of the supply.
The largest wallet holds 15.7% of the total FB tokens in circulation, while the top five wallets collectively hold 668,631.54 FB, showing a high concentration of ownership.
With a max supply of 200 million FB tokens, the fully diluted valuation of Fractal Bitcoin would reach $1.3 billion at current prices.
In the past 24 hours, Fractal Bitcoin saw $18.79 million in global trading volume, providing miners with an extra revenue stream during a period when Bitcoin mining profits alone have become increasingly challenging.
At the time of reporting, the Bitcoin price was $63,278.81, while the Fractal Bitcoin (FB) price was $13.55.