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

Marathon Digital Beats Q1 Sales, EBITDA Estimates

The miner also reported an impairment charge of $19.6 million related to its self-mined bitcoin.

Marathon Digital to Buy $121M of Mining Machines

Policy

Kazakhstan Orders Crypto Miners to Register With Authorities

The Central Asian country is trying to clean up its mining industry in the face of energy shortages.

CoinDesk placeholder image

Finance

Marathon Digital ‘Cautiously Optimistic’ About Meeting Early-2023 Hashrate Guidance as Delays Continue

The firm mined 299 bitcoins in April, a near 31% dip from the previous month, citing weather and maintenance issues.

CoinDesk placeholder image

Finance

Argo Blockchain Borrows $70M From NYDIG to Buy Mining Rigs

The miner is getting more machines for its Helios facility in Texas.

A crypto mining farm (Sandali Handagama/CoinDesk)

Finance

Marathon Digital Kicks Off Miners’ Earnings Season With Focus on Rig Deployment, Funding

The bitcoin miner will report its first-quarter results on Wednesday, followed by its first-ever earnings conference call.

CoinDesk placeholder image

Finance

Michael Saylor, Jack Dorsey Among Bitcoin Heavyweights Defending Mining in Letter to EPA

Bitcoin mining sites are no different than data centers operated by mega-cap tech firms such as Amazon, Apple, Google, Meta and Microsoft, the authors wrote.

A bitcoin mining facility. (Christinne Muschi/Bloomberg via Getty Images)

Finance

Battered Bitcoin Miners Increasingly Turn to Debt Financing

Raising debt rather than equity to fund growth is being seen as more attractive, analysts say, but not everyone has the option.

Bitcoin mining machines (Getty Images)

Markets

Argo Blockchain Shares Jump After Updated Hashrate Guidance

The stock rose the most since March after the miner said it expects its hashrate to reach 5.5 EH/s by year-end.

A crypto mining farm (Sandali Handagama/CoinDesk)

Finance

Bitcoin Miner Argo Raises Hashrate Guidance Thanks to Intel Mining Chips

About 33% of its new projected hashrate will be contributed from Intel-powered mining rigs.

Semiconductor manufacturer TSMC did not mention crypto mining in its latest earnings. (Unsplash)

Finance

Riot Blockchain to Develop 1GW of Bitcoin Mining Capacity in Texas

The company said the expansion will occur in phases and bring Riot’s total capacity to 1.7 GW.

A close-up of one of Riot's mining rigs. (Riot Blockchain)