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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.
Nvidia's Blockbuster Outlook Reminds Bitcoin Miners to Give AI a Look
Some BTC miners might find non-mining AI applications too tantalizing to pass up.
Non-Profit Organization Energy Web Starts Sustainability Registry for Bitcoin Miners
Miners will be scored based on their use of clean energy and grid impact.
Upstream Data Sues Crusoe Energy Over Waste Gas Mining Patent
The case involves two companies who aim to power mining rigs through the excess natural gas that comes as a result of oil well drilling.
The Bitcoin Mining Debate Is Ignoring the People Most Affected
Snowballing misinformation has painted an inaccurate and incomplete portrait of a complicated industry – and that is having a real impact on policy.
Bitcoin Mining Controversy and the Case of Greenidge Generation
Greenidge Generation, a bitcoin mining operation in upstate New York, has found itself at the center of state and national debates about the impact crypto mining firms have on the environment and their local communities. But locals who live near the facility say they’ve been cut out of the conversation, and the broader debate ignores the role Greenidge plays in their lives. CoinDesk reporters traveled to the towns immediately adjacent to the mining operation to understand the views on the ground.
Crypto Miner Marathon Pledges $500K in Matching Funds to Brink for Bitcoin Development
Marathon CEO Fred Thiel tells CoinDesk in an interview that he wants to make sure development and maintenance of the open-source Bitcoin Core client software are "properly funded."
Bitcoin Mining Rig Maker MicroBT Unveils Most Powerful Machine Yet
The Chinese rig maker's new model can deliver 320 TH/s, outperforming competitor Bitmain's equivalent machine lineup.
U.S. Bitcoin Corp to Host 150K Crypto Mining Rigs
The contracts are the latest in a series of moves indicating the mining industry is getting back on its feet.
Bitcoin Miner Cormint Raises $30M Series A to Build Texas Data Center
Executives of Nasdaq-listed semiconductor firm Silicon Laboratories participated in the funding round.
Bitcoin Miner Bitfarms Accelerates 6 EH/s Hashrate Target As Quarterly Loss Per Share Narrows
In Q1 2023, the bitcoin miner's net loss per share narrowed to 1 cent, from 8 cents the previous quarter.
