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 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)

Finance

Bitcoin Miner Blockmetrix Raises $20M in Debt From BankProv and CrossTower

The proceeds will go toward buying more mining machines and investing in joint infrastructure ventures.

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

Finance

Fort Worth to Become First US City to Mine Bitcoin

The Texas city will begin a pilot project with three Antminer S9 mining rigs following a vote by the city council on Tuesday.

Fort Worth Mayor Mattie Parker (left) and TBC President Lee Bratcher  (Fort Worth)

Finance

Scaramucci’s SkyBridge Starts Fund for Bitcoin Mining

The fund has $7 million already booked and was created for a second investment in bitcoin miner Genesis Digital, a source said.

SkyBridge founder Anthony Scaramucci (Cole Burston/Bloomberg via Getty Images)

Finance

Kevin O'Leary on Clean Bitcoin Mining, the Elon Musk-Twitter Conundrum

The future of the crypto mining industry is likely nuclear and hydro, the “Shark Tank” co-host said on CoinDesk TV’s “First Mover.”

(Kevin O'Leary, modified by CoinDesk)

Finance

BitNile to Lend Up to $100M to Small Businesses Backed by Bitcoin

Loans will range from $1 million to $25 million and be offered to publicly traded companies with less than $250 million in market capitalization.

CoinDesk placeholder image

Finance

Flared-Gas Bitcoin Miner Crusoe Energy Raises $350M Series C

The company is also bringing on additional credit facilities of up to $155 million.

Crusoe Energy President Cully Cavness (left) and CEO Chase Lochmiller (right) (Crusoe)

Finance

Bitcoin Miner Bit Digital Files to Raise Up to $500M in Equity

The proceeds will be used for capital expenditures, buying new mining equipment and other potential acquisitions.

cash, red, tape

Finance

Core Scientific Begins Reporting Daily Bitcoin Mining Production

The figure will be updated every day at 12:00 p.m. EST (16:00 UTC) on the mining company's home page in a bid to improve transparency.

Darin Feinstein, co-founder of Core Scientific, speaks during the Bitcoin 2022 conference in Miami, Florida, U.S., on Friday, April 8, 2022. The Bitcoin 2022 four-day conference is touted by organizers as "the biggest Bitcoin event in the world." Photographer: Eva Marie Uzcategui/Bloomberg via Getty Images