Foundry USA, One of the Largest Bitcoin Mining Pools, Invites Miners to Vote on Supporting BIP-110 Proposal
Foundry USA, one of the largest Bitcoin mining pools, is inviting its miner clients to vote on whether the pool should support the BIP-110 soft fork proposal aimed at limiting non-monetary transactions.
The proposal seeks to reduce the amount of data that can be stored in Bitcoin transactions to decrease the occupation of block space by non-financial uses, including Ordinals; the voting window will close at block height 961,632 in early August, with Foundry accounting for approximately 23.8% of the total network hash rate.
From a market mechanism perspective, the stance of mining pools directly affects the probability of the proposal's passage and the governance direction of the Bitcoin network. Support from large mining pools will enhance expectations of block space scarcity, benefiting Bitcoin's positioning as a store of value, while putting pressure on the Ordinals-related ecosystem and inscription transactions, leading to adjustments in overall hash rate distribution and miner income structure.
Source: Public Information
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As a large mining pool, Foundry USA has previously participated in Bitcoin protocol governance discussions through its hash rate. This miner vote continues the historical decision-making path of the Bitcoin community relying on consensus and hash rate endorsement, similar to the role of mining pools in the 2017 SegWit controversy.
From a capital perspective, the mining pool aims to influence block space usage rules by organizing votes to mobilize its hash rate resources, indirectly serving Bitcoin's core currency function, while opponents like Michael Saylor and Adam Back publicly advocate for network openness.
Similar to past soft forks and block size disputes in Bitcoin history, or Ethereum's governance shift from PoW to PoS, Bitcoin is currently in a transitional phase attempting to redefine block space priorities following the expansion of non-monetary uses like Ordinals.
This essentially involves regulatory changes and restructuring of the industry chain: BIP-110 attempts to limit non-financial transactions through protocol-level rules, reshaping Bitcoin's positioning as a store of value rather than a general data platform. The concentration of hash rate among large mining pools will accelerate the structural adjustment of this capital and usage path.
ABAB News · Cognitive Laws
The more concentrated the hash rate voting, the clearer the protocol direction.
When block space is scarce, non-monetary uses are always restricted first.
In governance disputes, the stance of mining pools often determines the flow of capital.