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.


Finance

Cipher Mining Lowers Per-Terahash Cost of Crypto Mining Rigs Even as Quarterly Loss Widens

The miner expects to have 6.9 exahashes per second of computing power deployed by early 2023.

Bitcoin mining rigs (Image credit: Eliza Gkritsi/CoinDesk)

Finance

Renewable Energy Company Closes $4.3M Capital Round to Convert Landfill Methane Into Bitcoin

Vespene Energy’s first funding round was led by Polychain Capital.

(Noah Buscher/Unsplash)

Finance

Bitcoin Miner CleanSpark Buys 36MW Facility and 3,400 Machines in Georgia for $25.1M

The Las Vegas-based company continues to look for growth in a market ripe for mergers and acquisitions.

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

Policy

Kazakh Authorities Arrest 23 Suspected of Forcing IT Professional to Run an Illegal Crypto Mine: Report

The country is still grappling with the illegal crypto mining industry.

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Finance

Bitcoin Miner Marathon to Start Energizing Texas Rigs at Compute North Facility

The dramatic decline in bitcoin prices led to a $127.6 million impairment on the company's BTC holdings in the second quarter.

Marathon Digital CEO Fred Thiel, at the Bitcoin conference in Miami (CoinDesk)

Finance

Iris Energy Turns On 41 Megawatts of Bitcoin Mining Machines Ahead of Schedule

The company plans to add another 50 MW by the end of next month, bringing its total hashrate to 3.7 exahashes per second.

Bitcoin mining rigs (Image credit: Eliza Gkritsi/CoinDesk)

Finance

After Countless Bungles, Compass Mining Tries to Change Course

The company that set out to make crypto mining available to retail investors has had to put out its own fires.

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

Finance

Why Bit Digital Is Expanding Into Canada

Bit Digital Chief Strategy Officer Samir Tabar joined CoinDesk TV’s “All About Bitcoin,” to discuss the mining company’s bid to increase hosting capacity in Canada.

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

Finance

Core Scientific Sold More Bitcoin in July Than It Mined

The miner still holds 1,205 bitcoins and expects to continue to sell its mined coins to pay for expenses.

Core Scientific CEO Mike Levitt (Danny Nelson/CoinDesk)

Finance

Crypto Miner Argo Blockchain Faced Equipment Challenges, Higher Costs in July

The London-based company produced 219 bitcoins in the month, 22% more than in June.

Bitcoin mining rigs (Image credit: Eliza Gkritsi/CoinDesk)