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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.
Bitcoin Miners' Profitability May Narrow as Mining Difficulty Hits Second-Biggest Increase This Year
Bitcoin miners are stepping up production as the weather cools down, so the network automatically adjusted to increase the difficulty of mining a block.
Bitcoin Mining Difficulty Poised to Spike by Most Since January Amid Colder Weather
Some analysts are starting to see this as start of a new seasonal trend in bitcoin mining
The End of the Texas Bitcoin Mining Gold Rush
The new era for mining in the state might look more like a slog than a boom – but it could also be better for the electric grid.
Sell-Side Analysts Trim Targets for Bitcoin Miner Argo Blockchain
Earlier this week, Argo lowered its year-end hashrate outlook from 5 EH/s to 3.2 EH/s.
Bitcoin Miner Argo Blockchain Looks to Raise $25M-$35M for 4.1 EH/s Hashrate Target
The firm is also looking to sign a deal for power in the next few months to avoid paying spot prices.
Bitcoin Miner Argo Cuts Year-End Hashrate View Citing Delayed Intel Mining Rigs
The company’s second-half revenue and adjusted EBITDA fell mainly due to the decline in bitcoin prices.
Bitcoin Miner Marathon Digital Targets Trimmed by Cowen
The bank did lift its share price target to $9, but that remains below the stock's current level of about $14.
Riot Blockchain Earned $9.5M for Not Mining During Texas Heatwave
Bitcoin mining firm Riot Blockchain mined 318 bitcoins in July, 28% fewer than last July, as it shut some operations to accommodate the high energy demand during the heatwave in Texas. The miner gained $9.5 million in power credits and other benefits from the curtailment. Riot Blockchain Vice President of Capital Markets discusses the state of the mining industry and potential impact of the upcoming ETH merge on the sector.
‘Consumer Business Is Dead’ for Crypto Lender Celsius, Bankruptcy Expert Says
Thomas Braziel, a partner at 507 Capital, also told CoinDesk TV’s “First Mover” customers may get back only 50 to 60 cents on the dollar.
Bitcoin Miner Riot Takes $349M Goodwill Impairment Charge on Acquisitions
The company also posted an impairment charge of $99.8 million on its bitcoin holdings.
