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.

Policy

Compass Mining Wins $1.5M in Lawsuit Against Hosting Firm

The mining-services broker claimed Dynamics Mining failed to provide services it had agreed to.

By Eliza GkritsiJan 3, 2023

Compass Mining's booth at Mining Disrupt in Miami in July 2022. (Eliza Gkritsi/CoinDesk)

Finance

Stronghold Digital Mining Swaps Debt for Preferred Stock

The bitcoin miner has been reducing its debt since the summer.

By Eliza GkritsiJan 3, 2023

Stronghold runs a coal refuse facility in Pennsylvania. (Stronghold Digital Mining)

Finance

Heatbit Is the First Space Heater That Mines Bitcoin, Founder Says

The newfangled device looks like a high-end space heater but uses integrated circuitry to process bitcoin transactions.

By Frederick MunawaJan 3, 2023

Finance

Bitcoin Miners Got Crushed by Crypto Winter. 2023 May Bring More Pain

Bitcoin miners had a rough 2022, showing “how to not build a mining business,” Industry experts, however, don’t see 2023 as any better, unless the market improve significantly.

By Eliza GkritsiDec 30, 2022

El invierno cripto cambió la composición de los participantes de la industria. (Monicore/Pixabay)

Videos

Argo Blockchain Gets a Lifeline From Galaxy Digital

Bitcoin miner Argo Blockchain (ARBK) will avoid filing for bankruptcy protection after Galaxy Digital (GLXY) agreed to buy its Helios mining facility in Texas for $65 million and grant the miner another $35 million loan. "First Mover" hosts Christine Lee and Lawrence Lewitinn discuss the hardships the mining industry faces this crypto winter.

Dec 28, 2022

Finance

Bitcoin Miner Argo Blockchain Will Avoid Bankruptcy With $100M Bailout From Novogratz’s Galaxy Digital

Galaxy will buy Argo's Helios facility for $65 million and provide $35 million loan to help the miner amid restructuring.

By Aoyon AshrafDec 28, 2022

Galaxy Digital CEO Mike Novogratz (Suzanne Cordiero/Shutterstock/CoinDesk)

Videos

Bitcoin's Computing Power Recovers After Falling Roughly 40%

The bitcoin mining hashrate, a measure of computing power on the blockchain, dropped about 100 exahash per second (EH/s), or 40%, to 156 EH/s, between Dec. 21 and Dec. 24, as a powerful storm swept across North America. It returned to about 250 EH/s as of Sunday. Christine Lee presents "The Chart of the Day."

Dec 27, 2022

Videos

Bitcoin Miners Power Down As Winter Storm Sweeps North America

Crypto miners across the U.S. powered down over the weekend as a powerful storm swept across North America, with computing power on the Bitcoin network dropping about 40%. "The Hash" panel discusses what this means for the bitcoin mining community.

Dec 27, 2022

Finance

Bitcoin Miners Powered Off as Winter Storm Battered North America

Computing power on the Bitcoin network dropped about 40% over the weekend.

By Eliza GkritsiDec 26, 2022

Finance

Blockware Solutions Customer Accuses Bitcoin Mining Firm of Fraud

The lawsuit seeks at least $250,000 of damages.

By Eliza GkritsiDec 23, 2022

Bitcoin Corporate Treasury Adoption (Shutterstock)