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

Want to Build a Bitcoin Mining Rig? Compass Mining Now Sells Single ASICs.

Single application-specific integrated circuit (ASIC) bitcoin mining rigs can now be purchased individually, rather than in bulk.

By Christie Harkin, David PanSep 21, 2021

An Antminer bitcoin mining machine pictured in 2018. (Carlos Becerra/Bloomberg via Getty Images)

Videos

Evergrande Debt Woes Hit Crypto, Mooncakes in the Metaverse

Crypto market hit by Evergrande’s debt woes. Bitcoin mining difficulty continues to rise. Modern Mid-Autumn sees mooncakes in the metaverse. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."

Sep 21, 2021

Markets

Market Wrap: Bitcoin Sell-Off Deepens as Equity Volatility Rises

Analysts expect further choppiness this week as investors seek safety from risk assets.

By Damanick Dantes, Tracy WangSep 20, 2021

Podcasts

Laos Does About-Face on Bitcoin to Attract China’s Mining-Ban Refugees

By Nathaniel WhittemoreSep 16, 2021

Finance

Greenidge to Buy 10,000 Miners for Planned South Carolina Facility

The upstate New York-based mining firm announced Wednesday its purchase order for 10,000 S19j Pro bitcoin miners from Bitmain.

By Jamie CrawleySep 15, 2021

Finance

Argo Blockchain Secures $25M Bitcoin-Backed Loan From Galaxy Digital

The loan will be used to fund continued expansion of the company’s data center in West Texas.

By Jamie CrawleySep 10, 2021

Finance

Bitcoin Miner Canada Computational Unlimited to Go Public

The company is set to trade on the TSX Venture Exchange in Toronto under the ticker symbol “SATO.”

By Jamie CrawleySep 9, 2021

Videos

Key Upsides to El Salvador’s Bitcoin Law

Edan Yago, a contributor to decentralized bitcoin trading and lending platform Sovryn, discusses his take on the potential positive impact of El Salvador rolling out bitcoin as legal tender despite growing skepticism and local protests just a week ahead of the move taking effect.

Aug 31, 2021

Markets

Bitcoin Hashrate Could Return to Record Sooner Than Expected

Chinese miners have been speeding up their migration to alternate locales while U.S. miners are expanding their capacity as bitcoin’s price rallies.

By Frances YueAug 27, 2021

The bitcoin hashrate has made a powerful recovery in the past month.

Markets

Market Wrap: Crypto Pullback Deepens; Expect Higher Volatility

Analysts expect higher volatility ahead of Friday’s month-end expiry.

By Damanick Dantes, Frances YueAug 26, 2021

Bitcoin 24-hour price chart, CoinDesk 20