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.

Policy

China Crypto Crackdown: Calendar Offers Clue as to 'Why Now?'

Crypto crackdowns tend to intensify amid politically sensitive times in China.

By Emily ParkerJun 30, 2021

Emblem of China on the Great Hall of the People, at Tiananmen Square

Markets

Bitcoin Hashrate Stabilizes After China Crackdown

The majority of the reduction stemmed from China's move to shut down cryptocurrency mining operations in the country, with a little bit from Iran.

By Frances YueJun 30, 2021

Finance

Hut 8 Buys $44M Worth of Mining Machines to Double Its Hashrate

The purchase will bring the company 11,090 new miners from SuperAcme Technology.

By Nate DiCamilloJun 30, 2021

Finance

China's Bitcoin Mining Crackdown Is a Boon for Miners Elsewhere

Miners outside of China are getting a financial boost from their competition’s forced exile. Will the trend continue?

By David Z. MorrisJun 30, 2021

Warehouses storing bitcoin mining machines stand at a mining facility operated by Bitmain Technologies Ltd. in Ordos, Inner Mongolia, China, on Friday, Aug. 11, 2017.

Finance

Blockware Raises $25M to Expand Bitcoin Mining Operations in Kentucky

The mining firm will use the funding to buy 14,000 rigs – 8,000 for itself and 6,000 to sell.

By Cheyenne LigonJun 30, 2021

Videos

Challenges and Opportunities for Bitcoin Mining in North America

Zack Voell of Compass Mining breaks down his comprehensive report on mining entitled "North American Bitcoin Mining Index (NABMI)." He discusses the key findings and crypto market implications from six months of data analysis on "companies, capital, and energy mix powering Bitcoin mining in North America."

Jun 29, 2021

Videos

Why Bitcoin Mining Hashrate Dropping to 1-Year Low Following China Crackdowns Is Good News for Miners

China's continued crypto crackdowns have been a blow for mining operations based in the country, but for miners in other parts of the world, it might be good news. Bitcoin's hashrate, a measure of the computational power working to secure the blockchain network, dropped to its lowest since May 2020. Meanwhile, the BTC mining difficulty could see a 25% decrease in July. "The Hash" hosts unpack why this is a windfall for active miners outside of China.

Jun 29, 2021

Policy

Musk’s Tweets Swayed Some Investors on Bitcoin Environmental Concerns, Survey Shows

A survey shows some 49% of respondents said that “bitcoin being environmentally unfriendly" is an issue for them as an investor.

By Lyllah LedesmaJun 29, 2021

Markets

Bitcoin Miner TeraWulf to Buy 30K Bitmain Mining Machines

The Bitmain Antminer S19j Pro will be delivered from January to June of 2022.

By Tanzeel AkhtarJun 29, 2021

Illuminated racks of application-specific integrated circuit (ASIC) mining devices at the BitCluster cryptocurrency mining farm in Norilsk, Russia.

Videos

Crypto.com Becomes Formula 1 Inaugural Global Partner of Sprint Series

Kris Marszalek, CEO of Crypto.com, the fastest-growing crypto platform, discusses teaming up with Formula 1 as the inaugural global partner of the new Sprint series and why crypto exchanges are upping their budget for marketing and sponsorships. Plus, the impact of China's continued crackdowns on the mining industry.

Jun 29, 2021