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.

Videos

Fed’s Waller Sees Another ‘Significant’ Rate Hike This Month; SEC Enforcement Chief: We Can’t Ignore Crypto Law-Breaking

Federal Reserve Governor Christopher Waller said Friday he expects a big interest rate increase later this month. Gurbir Grewal, director of enforcement at the U.S. Securities and Exchange Commission, said his agency can’t look the other way as the crypto industry violates securities laws.

Sep 9, 2022

Finance

Bitcoin Miner CleanSpark to Buy Mawson’s Georgia Mining Facility, Rigs for Up to $42.5M

The deal has potential to increase CleanSpark’s hashrate to 5.2 EH/s by the year-end, exceeding the company’s previous guidance.

By Aoyon AshrafSep 9, 2022

CleanSpark's immersion cooling facility in Norcross, Georgia (Eliza Gkritsi/CoinDesk)

Finance

Argo Blockchain's Crypto Mining Margin Narrows to 20% as Natural Gas Prices Soar

The miner signed a deal to host up to 32 megawatts of mining machines, enough to power about 10,000 rigs.

By Eliza GkritsiSep 9, 2022

Argo Blockchain's Helios facility in Dickens County, Texas. (Argo Blockchain)

Finance

Some Cheap Crypto Mining Stocks Could Be Value Traps, Warns Asset Manager Valkyrie

Valkyrie took a look at which miners are best positioned to survive the extended market downturn.

By Michael BellusciSep 7, 2022

Rig de minería cripto. (South_agency/Getty Images)

Finance

Bitcoin Miner CleanSpark Buys 10K New Machines for $28M After Discounts, Credits

The company has been taking advantage of opportunities to expand in the bear market.

By Eliza GkritsiSep 7, 2022

A bitcoin mining facility in Georgia that uses 95% non-carbon energy (CleanSpark)

Finance

Marathon Digital Energized 25,000 Miners in August, Produced 184 Bitcoins

The company had previously faced issues of mining rigs installed, but with no energy service.

By Michael BellusciSep 6, 2022

Finance

Poolin, One of the Largest Bitcoin Mining Pools, Suspends Withdrawals From Wallet Service

On Sunday, the mining pool acknowledged having liquidity issues.

By Eliza GkritsiSep 5, 2022

Riot Platforms’ acquisition of Block Mining makes sense, JPMorgan says. (Sandali Handagama)

Finance

Poolin, One of the World's Biggest Bitcoin Mining Pools, Acknowledges Liquidity Issues

Poolin CEO and founder Kevin Pan assured users that funds are safe and said the company might look to debt to solve its liquidity troubles.

By Eliza GkritsiSep 5, 2022

Mining rigs in Plattsburgh, N.Y. (Fran Velasquez/CoinDesk)

Finance

Bitcoin Mining Middleman Compass' Georgia Facilities to Close as Energy Prices Soar

The company is offering to move approximately 5,000 machines to Texas.

By Eliza GkritsiSep 1, 2022

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

Videos

DC AG Suing MicroStrategy's Michael Saylor for Alleged Tax Fraud; Bitcoin Mining Difficulty Increases

The District of Columbia is suing MicroStrategy (MSTR) founder and Executive Chairman Michael Saylor for allegedly never paying any income taxes in the district in the more than 10 years he has lived there, Attorney General Karl A. Racine announced in a tweet on Wednesday. Plus, the difficulty of mining a bitcoin (BTC) block increased by 9.26%.

Aug 31, 2022