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.


Markets

Bitcoin Mining Is Decentralizing – Here’s Proof

Mining has moved out of China. Is this good for bitcoin? Based on one metric at least, the answer is a resounding yes.

(Brett Zeck/Unsplash)

Finance

How a Startup Is Supplying a Whole City With Heat From Bitcoin Mining

North Vancouver, British Columbia, will be the world’s first city to be heated by bitcoin mining.

mining farm

Markets

Bitcoin Mining After the China Ban: US Dominance Is Set to Continue

China has “missed the ball” as geopolitical certainty and access to cheap power and infrastructure will enable the U.S. to take more bitcoin mining market share.

(m.elyoussoufi/iStock/Getty Images Plus)

Policy

UK Jails Crypto Miner for 13 Months for Stealing Electricity: Report

The Crown Prosecution Service described the case as “highly unusual.”

arrest-handcuffs

Finance

US Claims Bitcoin Mining Crown Following China Crackdown

China’s share has effectively dropped to zero, according to the Cambridge Centre for Alternative Finance.

Racks of crypto mining machines.

Policy

Why Crypto Mining Needs Nuclear Power

With Bitcoin besieged by environmental critics, two scientists make the case for cleaner “baseload” power.

A nuclear power station in Antwerp, Belgium.

Finance

Sphere 3D, Gryphon Sign Hosting Services Deal With Core Scientific

The agreement covers as many as 71,000 bitcoin mining machines.

Core Scientific's mining facility in Calvert City, Ky. (CoinDesk archives)

Policy

Bitcoin Miner Greenidge Generation to Sell $50M in Bonds

The company expects to raise about $48 million from the offering.

Crypto mining machines