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.


Markets

Riot Blockchain Mined 222 Bitcoins in Q3

Riot reported a current mining capacity of 556 petahash per second.

Bitcoins mined per quarter by Riot since Q2 2018

Markets

Hive Blockchain Buys, Deploys 1,240 Bitcoin Mining Machines, Nearly Doubling Hash Power

The Vancouver firm is targeting 1,000 PH/s in the next 12 months.

Hive Blockchain ASIC purchases in 2020

Policy

US Bitcoin Mining Firm Layer1 in Legal Tussle Over Power Facility Ownership

Layer1 Technologies is facing a lawsuit from a co-founder who claims he invested millions of dollars and was then forced out of the firm.

Máquinas de minería de bitcoin (Shutterstock)

Tech

Bitcoin’s Mining Difficulty Sees Largest Percentage Drop in 9 Years

Bitcoin's mining difficulty just recorded its largest percentage decrease since the advent of ASIC mining machines in late 2012.

Negative difficulty adjustments in Bitcoin's history

Markets

Bitcoin Mining Firm Hut 8 Appoints Jaime Leverton as CEO

Interim CEO Jimmy Vaiopoulos will return to his role as CFO.

Jaime Leverton (Hut 8)

Markets

Bitcoin Miners Saw 8% Revenue Increase in October

12% of revenue came from fees, the highest percentage since January 2018.

Bitcoin fees as a percentage of monthly miner revenue since Jan. 2016

Markets

Bitcoin Transaction Fees Rise to 28-Month High as Hashrate Drops Amid Price Rally

The cost of doing transactions on bitcoin is surging at a time the network is suffering its worst congestion in nearly three years.

Chicago Stone, side 2, recording sale of a number of fields, probably from Isin, Early Dynastic Period, c. 2600 BC, black basalt - Oriental Institute Museum, University of Chicago

Tech

'A Race Toward Zero': With Hashrate in the Clouds, Bitcoin Mining Is Less Profitable Than Ever

ASIC financing has driven Bitcoin's hashrate to all-time highs in 2020. By consequence, Bitcoin is less profitable to mine than ever.

GettyImages-643942724

Markets

Marathon Purchases Additional 10,000 S-19 Pro Miners From Bitmain

This marks the second 10,000+ machine order from Marathon since August.

Stack of bitcoin miners

Tech

This New Service Plays Matchmaker Between Solo Miners, Big Mining Farms

Compass by HASHR8 matches individual miners with mining farms to host their hardware.

Bitcoin mining equipment