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.

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Bitcoin Mining Rig Prices Slump to Near 2-Year Lows Amid Celsius Bankruptcy

Celsius’ mining unit is said to have auctioned off some of its newly purchased mining rigs at fire-sale prices back in June, before filing for bankruptcy.

Von Aoyon Ashraf14. Juli 2022

El bear market afectó los precios de minería de bitcoin. (Marko Ahtisaari/Flickr)

Videos

Crypto Miner CleanSpark Continues to Take Advantage of Bear Market as it Scoops Over 1K Rigs

Crypto miner CleanSpark has purchased 1,061 bitcoin mining rigs that are already in operation at hosting firm Coinmint’s facility in New York. In June, the Las Vegas-based miner bought contracts for another 1,800 mining rigs. “The Hash” hosts unpack what this means for the bitcoin mining ecosystem.

14. Juli 2022

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Bitcoin Production Cost Has Dropped to About $13K, JPMorgan Says

Declining production costs could be seen as a negative for bitcoin prices, the Wall Street bank said in a report.

Von Michael Bellusci14. Juli 2022

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Crypto Miner CleanSpark Continues to Take Advantage of Bear Market as it Scoops Over 1K Rigs

In June, the Las Vegas-based miner bought contracts for another 1,800 mining rigs.

Von Eliza Gkritsi14. Juli 2022

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

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Celsius' Mining Unit Files for Bankruptcy Just Months After Announcing IPO Intention

Celsius Mining said in March that it intended to go public.

Von Aoyon Ashraf14. Juli 2022

Voyager Digital files for bankruptcy protection (RunPhoto/Getty images)

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Compass Mining CEO and CFO Resign Amid 'Setbacks and Disappointments'

The company appointed co-founder and Chief Technology Officer Paul Gosker and Chief Mining Officer Thomas Heller as interim co-presidents and CEOs.

Von Aoyon Ashraf, Eliza Gkritsi13. Juli 2022

Compass Mining sign at Bitcoin Miami 2022 (Danny Nelson/CoinDesk)

Videos

How Crypto Mining Is Impacting Power Grid in Texas

Crypto miners in Texas are shutting down operations as the state’s electrical grid braces for a heat wave and surging power demand. Steve Kinard, director of bitcoin analytics at Texas Blockchain Council and Joshua Rhodes, The University of Texas at Austin research associate, discuss what this means for the mining community in Texas and beyond.

12. Juli 2022

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Crypto Mining Stocks Bounce Amid Bitcoin Recovery

Investors are likely feeling comfortable as the price of the largest cryptocurrency has stabilized over the past few days.

Von Eliza Gkritsi8. Juli 2022

Crypto mining stocks have lost roughly half of their value in the past month. (Sandali Handagama for CoinDesk)

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Marathon Digital Continues to Hodl All Bitcoin but Hints at Strategy Change

Dealing with a number of operational challenges, the company mined 707 bitcoin during the second quarter down sharply from the previous three months.

Von Michael Bellusci7. Juli 2022

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

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Argo Blockchain Hires Derivatives Trader to Navigate Market Rout, Sells BTC to Reduce Loan

The miner saw gains in bitcoin production in June, but its profit margin narrowed.

Von Eliza Gkritsi7. Juli 2022

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