MARA forms foundation to support Bitcoin network health, adoption

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DirectionBullish — MARA establishes a foundation to support the health and adoption of the Bitcoin network.

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MARA’s commitment to Bitcoin comes as corporate Bitcoin miners have expanded into AI and high-performance computing in search of higher-revenue opportunities. Bitcoin hashrate, a measure of the computational power employed by miners to secure the Bitcoin network, has fallen 28.8% since September. The newly formed MARA Foundation is set to start with a $100,000 contribution fund and is asking the public to vote on which of three Bitcoin companies should receive the funds. The three candidates are the open-source Bitcoin mining platform 256 Foundation, the Latin American Bitcoin education platform Libreria de Satoshi and SafeNet, a Bitcoin-powered, community-operated wireless network serving underprivileged communities. Related: Vitalik Buterin outlines quantum resistance roadmap for Ethereum MARA said one of the foundation’s missions is to enable “financial sovereignty worldwide,” particularly in the “Global South” — mostly Africa and Latin America — where “Bitcoin is being used as a tool to escape financial oppression in jurisdictions affected by hyperinflation, confiscatory policy, and restrictions on financial freedom.” “We are committed to supporting communities using Bitcoin to expand access to sound money and strengthen local economies,” it added. MARA also plans to share a range of educational resources with both Bitcoin developers and policymakers. Magazine: Bitcoin may take 7 years to upgrade to post-quantum: BIP-360 co-author

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