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.


Finance

Bitfarms Says Riot Bid 'Significantly Undervalues' Crypto Miner, Is Exploring Options

Bitfarms said it had received additional expressions of interests from other parties.

New and old bitcoin mining rigs at CleanSpark's site in Georgia.

Finance

Riot Platforms Is Best Suited to Consolidate Bitcoin Mining Sector: Bernstein

The company has the financial capacity to consolidate the bitcoin mining space, the report said.

A bitfarms mining site in Washington. (CoinDesk)

Finance

Riot Plans Hostile Takeover of Bitfarms; Proposes $2.30 Per Share

Riot privately offered its proposal last month, with Bitfarms rejecting it.

A photo of four mining rigs

Finance

Bitcoin Miner Marathon Digital Signs Deal With Kenya to Invest in Green Energy Projects

The company will help monetize stranded energy in the African country and help manage its renewable energy production.

Marathon Digital CEO Fred Thiel (CoinDesk)

Policy

Biden Order to Halt China-Tied Bitcoin Mine Beside Nuke Base Came as U.S. Firm Just Bought it

President Biden's emergency order to halt the Chinese-tied mining on the doorstep of a nuclear-missile base hit days after mining giant CleanSpark struck a deal to buy the property.

(White House, modified by CoinDesk)

Markets

Bitcoin Mining Cost Drops to $45K as Inefficient Miners Exit: JPMorgan

The bank sees limited upside for the bitcoin price in the near term due to a number of headwinds.

(Shutterstock)

Markets

Miner Hut 8’s Bitcoin Stack Gives it Capital to Pursue Upcoming Projects, Upgrade to Buy: Craig-Hallum

The miner’s bitcoin stash is a protective feature for investors and opportunistic capital for the business to use for growth, the report said.

A Hut 8 mining facility (hut8.io)