84% of Bitcoin Hashrate Securing DeFi: Beyond the Numbers, Where's the Revenue?

So here's something that might surprise you: a whopping 84% of Bitcoin's total hashrate was committed to securing Rootstock, a Bitcoin sidechain, in the first quarter of 2026. That's a big number! But what does it actually mean for Bitcoin miners and the broader DeFi space?

The Mechanics of Merged Mining

Rootstock operates as a Bitcoin sidechain, allowing miners to use merged mining to secure its network. Essentially, miners can double-dip by mining both Bitcoin and Rootstock using the same hardware. They submit work to Rootstock without interrupting their Bitcoin operations. During Q1, 833.92 exahashes per second (EH/s) of Rootstock hashrate were recorded. It's significant because it shows that Bitcoin's proof-of-work isn’t just securing Bitcoin anymore. it’s now also underpinning a smart contract infrastructure.

Mining pools including Foundry USA, AntPool, and F2Pool are major players in this merged mining scenario. Foundry USA alone accounted for 36.62% of Rootstock's hash contribution last quarter. The high participation rate suggests that major Bitcoin infrastructure is backing this initiative. But here's the catch: while the security claim is solid thanks to Bitcoin miners reusing their existing hardware, the actual financial benefits are still up for debate.

Broader Implications for Crypto

Let's pull back for a moment. What does this mean for the Bitcoin and DeFi markets? Well, it shows that Bitcoin mining has more versatility than many might have assumed. While traditional trade finance is a $5 trillion market running on fax machines and PDF attachments, Rootstock offers a glimpse into how integrated financial ecosystems might evolve using existing infrastructure.

The big question? Whether the significant hashrate securing Rootstock will eventually translate into meaningful economic activity, like significant fee revenue or increased liquidity. For now, the infrastructure's there, but miners aren't necessarily seeing the dollars roll in. It’s key for Rootstock to convert its security base into real-world economic engagement.

For Bitcoin DeFi, or BTCFi as it’s sometimes called, this high level of miner participation provides a strong foundation to develop. However, the broader Bitcoin economy has yet to see substantial fee revenue from this initiative. It's one thing to have a strong security base. it's another to generate the economic activity to make it worthwhile.

Why Should We Care?

, Bitcoin miners are under pressure. The CoinShares Q1 2026 report indicated that mining margins are squeezed, with hashprices at around $29 per PH/day. Rootstock offers miners a chance to earn additional revenue, albeit modestly, without significant additional costs.

For the broader crypto network, this is optionality at its best. If Rootstock can take advantage of its high hashrate to drive economic activity, it could present a new revenue stream for miners and a new utility layer for Bitcoin. But it’s not just about security numbers. True success lies in converting that security into transactional and fee-based activities that benefit miners and BTC holders alike.

So the real challenge is this: can Rootstock transform its impressive security metrics into tangible economic outcomes? As it stands, security might be the first layer, but for the Bitcoin DeFi dream to materialize, Rootstock needs to show the money.