Qubic Demonstrates 51% Hash Rate Control on Monero Network, Resulting in Significant Blockchain Reorganization

On August 15, Qubic released findings from its 51% hash rate experiment conducted on the Monero network. The test successfully demonstrated network vulnerability, with the resulting chain reorganization affecting 6 blocks and leaving 60 blocks orphaned across the network.

Experimental Execution and Mining Performance

The two-hour experiment proved remarkably effective in terms of hash power concentration. Qubic captured approximately 80% of all Monero blocks mined during this window, accumulating a network peak hash rate of 2.71 GH/s. This computing power represented 52% of the entire global Monero hash rate, enabling the mining of 5,506 blocks throughout the test period.

The experiment resulting in substantial token generation during this brief window. Miners extracted roughly 750 XMR alongside 7 million XTM tokens. Combined with unsold Tari reserves from a previous allocation, these earnings accumulated to 17.2 billion QUBIC tokens, which were subsequently destroyed through a burn mechanism valued at approximately $55,000 (based on an average pricing of 3,200 QUBIC per billion).

Economic Impact and Miner Incentives

Computors and mining participants collectively earned 62.2 billion QUBIC rewards, translating to approximately $200,000 in compensation. This outcome resulted in a striking comparison with standard Monero mining returns—current Qubic miner earnings demonstrate nearly four times the profitability versus traditional Monero mining operations.

Ongoing Research

The 51% attack experiment on the Monero network remains in active phase, with Qubic continuing to gather data on network resilience and attack vector effectiveness.