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.

Tech

Bitcoin's Mining Difficulty Has Rarely Been This Static in a Decade

Bitcoin's mining difficulty just posted the smallest percentage change in 10 years.

By Wolfie ZhaoJul 1, 2020

Markets

Consumer Watchdog Moves to Block Canadian Bitcoin Miner From US Power Grid

Public Citizen warned the U.S. Dept. of Energy that DMG Blockchain's bid to export electricity could set a dangerous precedent.

By Danny NelsonJun 25, 2020

Washington's Grand Coulee Dam, the largest power station in the United States (C. P. Johnston Co/Wikimedia)

Markets

Bitmain Co-Founder Offers Share Buyback at $4B Valuation to End Power Struggle

The offer seems an apparent effort to bring about negotiations that could end the divisions that have been tearing the company apart.

By Wolfie ZhaoJun 22, 2020

Micree Zhan, co-founder of Bitmain. (Credit: CoinDesk archives)

Markets

Bitcoin Miner Maker Ebang Estimates $2.5M Loss for Q1 in IPO Prospectus Update

The Chinese firm also revealed its anticipated share price in its updated filing with the U.S. SEC.

By Wolfie ZhaoJun 18, 2020

Mining machines (GreenBelka/Shutterstock)

Tech

Bitcoin Mining Difficulty Makes Biggest Jump in 29 Months

Miners now face the fourth-most difficult two-week mining period in Bitcoin's history, even though it's only been a little over a month since the halving.

By Wolfie ZhaoJun 16, 2020

Markets

Hut 8 Plans $7.5M Offering to Upgrade Bitcoin Mining Rigs

Hut 8 Mining is looking to raise at least $7.5 million to upgrade its fleet of BlockBox bitcoin miners.

By Danny NelsonJun 10, 2020

Finance

Why Miner Maker Ebang's US IPO Raises More Questions Than Answers

Bitcoin mining hardware manufacturer Ebang wants to raise $100 million through a U.S. IPO. But that could be a risky investment, CoinDesk Research's Matt Yamamoto reports.

By Matt YamamotoJun 8, 2020

Markets

Bitcoin Mining Difficulty Drops 9% to January Levels

Bitcoin has just got easier to mine while major manufacturers have started shipping their latest machines ahead of China's rainy summer season.

By Wolfie ZhaoJun 4, 2020

Markets

Iranian Lawmaker Says Bitcoin Should Be Central Bank's Turf

An Iranian lawmaker wants his country’s central bank to take bitcoin seriously.

By Danny NelsonJun 2, 2020

Finance

Bitcoin Mining Pool Poolin Partners With BlockFi to Expand Crypto Lending Service

Poolin, the second biggest bitcoin mining pool by total network power, is expanding its crypto lending and financial services businesses.

By Wolfie ZhaoJun 2, 2020