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

Bitcoin Miner Crusoe Mostly Not Affected by North Dakota Oil Site Explosion

The incident wasn’t caused by Crusoe’s equipment, according to the company, and damages were minimal.

gas flaring bakken

Finance

Bitcoin 2022 Miami: Mining Gets Its Moment Under the Sun

The mining industry took up plenty of space and mindshare at Bitcoin 2022 in Miami, with one participant calling it “a real deal center.”

Rows dedicated to miners at the Bitcoin 2022 Conference in Miami. (Aoyon Ashraf/CoinDesk)

Finance

Canaan Unveils Bitcoin Mining Machine, Sees Speedier ASIC Market Growth

The new model’s mining power and efficiency positions it between rival Bitmain’s S19 and S19 Pro machines.

Canaan's new Avalon 1266 model at the Bitcoin 2022 conference. (Aoyon Ashraf/CoinDesk)

Tech

Tesla, Blockstream, Block to Mine Bitcoin Using Solar Power in Texas

The project aims to show that bitcoin mining using 100% renewable energy can be done at scale, says Blockstream CEO Adam Back.

Solar panels at dusk (Justin Paget/Getty images)

Markets

Market Wrap: Cryptos Recover, With Altcoins in the Lead

BTC was roughly flat over the past 24 hours, compared with a 6% jump in WAVES and a 3% rise in AAVE.

Cryptos reverse course (cdd20, Unsplash)

Finance

Riot Blockchain Bitcoin Mined Rises to 511 in March

The company also sold 200 bitcoin during the month, raising $9.4 million.

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

Finance

Marathon Digital to Move Mining Rigs From Coal-Powered Montana Site

The company wants its bitcoin mining operations to be 100% carbon neutral by the end of the year.

Marathon Digital to Buy $121M of Mining Machines

Finance

Bit Digital Partners With BitMine to Host 7K ASIC Miners

BitMine will store the machines in immersion coolers for greater efficiency.

Cryptocurrency mining machines

Finance

Bitcoin Miner Marathon on Track to Meet Its Hashrate Guidance, Despite Delay

The miner is hodling all its bitcoins and currently has 9,373.6 bitcoins with a fair market value of approximately $427.7 million.

Marathon Digital is on track to hit its hashrate goals. (Shutterstock)