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.

Videos

Ripple, ConsenSys and CoinShares Join Crypto Climate Accord

As the debate over bitcoin’s environmental impact re-emerges, several major players are joining the Crypto Climate Accord, an initiative aimed at ensuring the crypto industry runs on renewable energy by 2025. “The Hash” panel discusses the crypto energy debate and the impact that the Crypto Climate Accord could have on mining.

Apr 8, 2021

Markets

Ripple, CoinShares, ConsenSys Join Crypto Climate Accord

CoinShares’ chief strategy officer says, “It’s vital we correct misinformation that has persisted about Bitcoin’s energy use and sources.”

By Jamie CrawleyApr 8, 2021

Green energy sources like hydroelectric power will play an even greater role in bitcoin mining.

Markets

Riot Blockchain Acquires Whinstone’s Texas Bitcoin Mining Operations

The firm is acquiring the facility with the goal of “increasing the American footprint in the global bitcoin mining landscape.”

By Tanzeel AkhtarApr 8, 2021

Riot Blockchain is acquiring a bitcoin mining center in Texas.

Markets

Crypto Mining Firm Hut 8 Seeks $396M Raise in Latest Offering

The securities offering is expected to take place on the Toronto Stock Exchange.

By Sebastian SinclairApr 8, 2021

Markets

Riot Blockchain Signs Contract to Purchase 42,000 Mining Machines From Bitmain

Once active, these additional miners will increase the firm’s bitcoin mining hashrate by 93%.

By Tanzeel AkhtarApr 7, 2021

Since 2019, Riot has made nearly $230 million worth of purchase agreements with Bitmain.

Markets

Ebang Shares Slump After Hindenburg Research Takes Short Position

Hindenburg’s report is a self-described “cautionary tale” for investors willing to jump blindly into publicly traded mining stocks.

By Colin Harper, Blockspace MediaApr 6, 2021

Finance

Chinese Lottery Firm Furthers Crypto Pivot by Buying Bitcoin Miner Maker for $100M

The acquisition of mining equipment maker Bee Computing comes amid the lottery-turned-crypto-mining firm’s shopping spree.

By David PanApr 6, 2021

Markets

Bitcoin Hashrate Surpasses All-Time High as Even 2014 ASICs Stay Profitable

Bitcoin's hashrate is moving with the crypto's price as old and new mining machines come online.

By Colin Harper, Blockspace MediaApr 6, 2021

Markets

Oil and Gas Miner Teams With Canadian Tech Firm for Green Bitcoin Mining

Fortress Technology hopes to increase its hashrate nearly tenfold through the partnership.

By Colin Harper, Blockspace MediaApr 6, 2021

Teeside Industries as U.K.'s Record Rebound Leaves it Behind Others

Markets

Marathon Patent Mined 196 Bitcoin in Q1, Sees Having 100K+ Miners Online by Early 2022

Marathon’s ASIC spending spree is one of many, and it could signal that bitcoin’s hashrate will hit new highs still this year.

By Colin Harper, Blockspace MediaApr 5, 2021

Andrey Rudakov/Bloomberg via Getty Images