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Bitcoin Mining
Bitcoin mining is the process by which new bitcoins are created and transactions are verified and added to the blockchain network. It involves powerful computers solving complex mathematical problems to secure the Bitcoin network and maintain its decentralized nature. Individuals, companies, and even specialized mining pools participate in this process, known as miners. These miners play a crucial role in ensuring the integrity and security of the Bitcoin network. As the number of bitcoins in circulation is limited, mining also serves as a means of distributing new bitcoins. Miners are rewarded with newly minted bitcoins for their computational efforts and the energy they contribute to the network. Bitcoin mining has evolved over time, with the advent of more efficient hardware and the rise of mining farms. These farms, often operated by companies, leverage economies of scale to maximize their mining capabilities. Additionally, mining protocols and algorithms have been developed to adapt to the increasing computational power and maintain the network's stability. Crypto exchanges facilitate the trading of bitcoins, allowing miners to convert their earned bitcoins into traditional currencies or other cryptocurrencies. This dynamic ecosystem of people, companies, protocols, and blockchain networks collectively contribute to the functioning and growth of Bitcoin and the broader cryptocurrency market.
Luxor Bitcoin Mining Firm Raises $5M Series A Led by NYDIG
Luxor says it will work with NYDIG on "a number of mining-related ventures and hashrate-based products."
China's Qinghai Province Has Ordered All Crypto Miners to Shut Down
It follows orders to other provinces, including Xinjiang and Inner Mongolia, to shut down miners.
Some Xinjiang Bitcoin Miners Instructed to Shut Down: Report
The local government of Changji in Xinjiang has instructed miners at the Zhundong Economic Technological Development Park to shut down mining activities.
Square to Invest $5M to Build Solar-Powered Bitcoin Mining Facility With Blockstream
The announcement comes as the environmental impact of mining for the world's largest cryptocurrency has come under intense scrutiny.
Biden Bans American Investment in 59 Chinese Firms
U.S. President Joe Biden signed an executive order today banning Americans from investing in 59 Chinese firms with ties to the military. Bitcoin mining engineer Brandon Arvanaghi shares his view on how the rising economic tensions between the two countries could impact bitcoin innovation.
Gryphon Digital Mining to Become Publicly Traded on Nasdaq Via Merger With Sphere 3D
Based on the current price of Sphere's shares, the merger is valued at $184.3 million.
Argo Blockchain's Bitcoin Holding Passes 1,000
May revenue fell to $7.8 million, 16% less than the month before.
Bitcoin Price, Foreign ASIC Demand Drive Profitable Q1 for Miner Producer Canaan
Canaan's overseas business is growing, a testament to the undercurrent of miners leaving China for other jurisdictions.
Bitcoin Miner Marathon Will No Longer Censor Transactions, CEO Says
"Marathon is committed to the core tenets of the Bitcoin community, including decentralization, inclusion, and no censorship," said the CEO.
Crypto Long & Short: What I've Learned in the Past Five Years
Seven main takeaways on crypto markets from my time at CoinDesk. Plus: the future of the Bitcoin Mining Council.
