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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.
The Rise of ASICs: A Step-by-Step History of Bitcoin Mining
The machines that maintain the Bitcoin network have undergone rapid technological development. Here's a detailed look at that evolution and at what might lie ahead.
Bitcoin Miner Maker Ebang Files for a $100M US IPO
Ebang International Holdings, one of the leading makers of bitcoin mining equipment, is taking another stab at going public, this time in the U.S.
Bitcoin Halving 2020: The 'Arms Race' for Miner Efficiency Intensifies
In the lead-up to the next bitcoin halving event in May, some bitcoin miners are looking at leveraging what some describe as “surplus energy” to make operations even more cost-effective.
Arctos Inks $1M Sale and Leaseback Deal With Bitcoin Miner Blockware
The mining company will use the funding to expand its operations in the U.S.
China's Rainy Season Is Coming. This Time Bitcoin Miners Aren't Investing
With bitcoin’s price drop and imminent halving, mining farms in China are struggling to fill slots despite the coming rainy season, when power is cheap.
Negative Oil Prices Could Hurt Bitcoin Miners Who Use Flared Gas
North American bitcoin miners who've bet on fossil-fuel extraction to power their rigs are watching the oil markets closely as prices sink to historic lows.
In Canada They're 'Essential,' In Argentina They're Shut Down: Bitcoin Miners Reckon With COVID-19
Here's how the "Great Lockdown" is redrawing the bitcoin mining landscape. The halving and economic crisis may be priced-in – but local politics aren't.
Bitcoin Mining Hardware War Is Heating Up Ahead of the Halving
MicroBT is rolling out three top-of-the-line bitcoin miners hoping to eat further into Bitmain's market dominance at a key time for the industry.
Riot Blockchain Moves Part of Bitcoin Mining Operation to Upstate New York
Bitcoin miner Riot Blockchain has sent a portion of its newly acquired S17 Pro Antminers from an Oklahoma facility to upstate New York, tapping excess power in a colocation deal with Coinmint.
Bitmain Partially Refunds Bitcoin Miner Buyers After Price Cuts
The Beijing-based firm is sending out cash coupons to customers who pre-ordered its latest bitcoin miners ahead of recent price markdowns.
