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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.
Blockstream Preps New Sale of Notes Designed to Profit From Rebounding BTC Mining-Rig Prices
Blockstream's BASIC note is a bitcoin-denominated investment vehicle to accrue gains from the price of ASIC mining equipment, which Blockstream anticipates will rise post-halving.
Bitcoin Halving Is Poised to Unleash Darwinism on Miners
Strong miners might be about to eat the weak ones as the reward for mining BTC gets cut in half, experts say.
Bitcoin Going From Boiling the Oceans to Draining Them, According to Critic
A data scientist for the Dutch National Bank, Alex De Vries, claims every bitcoin transaction uses enough water to fill a swimming pool.
Jack Dorsey Aims to Create Anti-Censorship Bitcoin Mining Pool With New Startup
The company said has it created "only non-custodial" mining pool where miners get the new bitcoin block reward directly from the network.
SoFi to End Crypto Services; Jack Dorsey's Latest Crypto Moves
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto stories of the day, including the latest developments for Binance as founder and former CEO Changpeng "CZ" Zhao steps down as chairman of the global exchange's U.S. affiliate's board. SoFi tells its crypto customers it is ending crypto services next month. Plus, Jack Dorsey leads a $6M seed funding round for a decentralized bitcoin mining pool.
Bitcoin's Anti-Censorship Ethos Surfaces After Mining Pool F2Pool Acknowledges 'Filter'
After a blockchain sleuth reported that the Bitcoin mining pool may have censored a transaction from an address blacklisted by U.S. authorities, critics responded, and so did the project's co-founder.
Celsius to Transition to Mining-Only NewCo After SEC Feedback in Updated Bankruptcy Plan
On Monday, a few hours before the Celsius announcement, CoinDesk reported that the SEC wanted more information about the assets of the former crypto lender.
Luxor Starts New Business to Make Shipping of Bitcoin Mining Rigs Faster
The bitcoin mining services firm had previously shipped over $245 million worth of equipment to more than 30 countries.
Bitcoin Miner Marathon Digital Beats Q3 Earnings Estimates, but Misses on Revenue
The company sees 2023 mining power guidance reaching 26 EH/s, making it the largest bitcoin mining firm in terms of hash rate.
Marathon Digital CEO on Testing BTC Mining With Methane Gas From Waste Landfill
Bitcoin miner Marathon Digital has teamed up with Nodal Power for a 280 kilowatt pilot mining project in Utah that is using methane gas generated from landfill waste to power mining operations. Marathon Digital Holdings CEO Fred Thiel discusses the partnership and the broader state of bitcoin mining, explaining how "long-term, bitcoin miners can essentially become energy negative."