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

Intel Ending Production of its Bitcoin Mining Chip Series

Chipmaking heavyweight Intel (INTC) is ending production of its bitcoin mining chip series, the company said in a statement to CoinDesk on Tuesday. "The Hash" panel discusses the latest blow to the bitcoin mining community and the broader implications for the tech industry.

Apr 19, 2023

Finance

Valuations and M&A Show Things Aren’t So Bad for Crypto

Two aspects of the crypto world, blockchain tech companies and exchanges and crypto miners, reveal that M&A activity is strong and that crypto-related companies have converged with the rest of tech, a sign that the digital-asset industry is maturing.

By Christophe Morvan, Julian Ostertag, Sam LevyApr 19, 2023

Finance

Bitcoin Miner Mawson to Sell Texas Sites for $8.5M to Singapore Fund Manager

The funds will go toward reducing Mawson's debt and fueling growth.

By Eliza GkritsiApr 19, 2023

Bitcoin miners at work (Eliza Gkritsi/CoinDesk)

Tech

Intel Discontinues Bitcoin Mining Chip Series

The production of the so-called Blockscale chips was announced about a year ago.

By Eliza GkritsiApr 18, 2023

Videos

Gridless Bringing Bitcoin Mining to Rural Africa

As part of CoinDesk's Projects to Watch 2023, "The Hash" panel highlights the significance of bitcoin mining firm Gridless extending power to rural Africa.

Apr 17, 2023

Policy

NovaWulf Plans to Tokenize Equity of Celsius’ New Firm With $2B Assets, After Takeover

Celsius Network contacted 130 interested parties and signed confidentiality agreements with 40, before choosing NovaWulf.

By Eliza GkritsiApr 14, 2023

Alex Mashinsky, founder and CEO of Celsius Network, at Consensus 2019 in New York (CoinDesk)

Policy

Sweden Drives Final Nail Into Its Bitcoin Mining Industry With Tax Hike

The 6,000% increase in taxes per kilowatt hour of energy may "ultimately destroy the industry" in the country.

By Eliza GkritsiApr 14, 2023

A 30MW mining facility (Sandali Handagama/CoinDesk)

Finance

Bitcoin Miner Bitdeer Stock Slumps Nearly 30% at Trading Debut

The Singapore firm is one of the largest bitcoin miners in the world, with 16.2 EH/s of hashrate.

By Eliza GkritsiApr 14, 2023

Videos

The Bitcoin Mining Energy Debate

CoinDesk's Chief Insights Columnist David Z. Morris joins "All About Bitcoin" and shares his reaction to The New York Times report on the energy cost of bitcoin mining. Plus, Morris takes a deeper dive into how the Texas power grid works regarding backup electricity.

Apr 13, 2023

Markets

Bitcoin Miner Stocks Continue Torrid Run as $30K Level Holds

Fresh economic data Thursday morning suggested slowing in both inflation and the employment picture.

By Stephen AlpherApr 13, 2023