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

UK Police Raid Suspected Cannabis Factory, Find Bitcoin Mining Operation

"It's certainly not what we were expecting!" one of the officers said.

By Jamie CrawleyMay 28, 2021

Policy

Sichuan Energy Regulator to Meet to Discuss Bitcoin Mining: Report

Some mines in Sichuan are operating as usual despite the recent crackdown, Global Times reported.

By Jamie CrawleyMay 27, 2021

The Sichuan region of China is rich in cheap hydro power.

Policy

Why China’s Crackdown May Make Bitcoin Mining More Centralized

Big Chinese miners are likely to survive the crackdown.

By David PanMay 27, 2021

Markets

Market Wrap: Bitcoin, Ether Climb on 'Green' Mining Plans Before Losing Steam

Major cryptocurrencies saw a pop in anticipation of a more environmentally friendly mining outlook. Then they slipped.

By Daniel CawreyMay 26, 2021

Markets

Bitcoin ESG Concerns Might Slow Institutional Adoption, for Now

Two of the hottest trends in institutional investing – bitcoin adoption and environmental, social and governance factors – are suddenly colliding.

By Lyllah LedesmaMay 26, 2021

Videos

MicroStrategy's Saylor Details Meeting Where Bitcoin Mining Council Formed With Musk, Miners

During a keynote interview at Consensus 2021, MicroStrategy CEO Michael Saylor explains the goals for the Bitcoin Mining Council and responds to criticism surrounding the meeting.

May 26, 2021

Videos

Michael Saylor Demystifies 'Secret Meeting' with Musk and Miners

Crypto Twitter is up in arms about Michael Saylor and Elon Musk's recent meeting with bitcoin miners. During his Consensus 2021 keynote interview Tuesday, the MicroStrategy CEO pushed back against accusations of a secretive cabal and explained the new Bitcoin Mining Council's sustainability goals.

May 26, 2021

Videos

How Green Can Bitcoin Go?

Jesse Morris of the Energy Web Foundation and Mike Colyer of Foundry discuss the economics behind “green mining” and how financial incentives can persuade more mining companies to use renewable energy as they look for the cheapest source of energy.

May 25, 2021

Videos

Bitcoin Mining's Energy Consumption Debate

How much energy is bitcoin mining really using, and how does it compare to consumption by other industries? Crypto thought-leader Meltem Demirors and Anton Dek of Cambridge discuss crypto's carbon footprint and the proposed solutions to combat it.

May 25, 2021

Policy

Bobby Lee Says Latest China 'Bitcoin Ban' Nothing to Fear and Nothing New

China's government is taking more drastic measures against bitcoin mining. The Ballet CEO thinks this will strengthen the network over time.

By Colin Harper, Blockspace MediaMay 25, 2021