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: la dificultad para minar baja aún más desde julio de 2021 por el declive de rentabilidad

Los mineros de bitcoin están atrapados entre los costos que aumentan cada vez más y el bajo precio de bitcoin.

By Eliza GkritsiDec 6, 2022

Crypto mining rigs (Eliza Gkritsi/CoinDesk)

Policy

Paraguay Votes Down Crypto Regulatory Bill in a Blow to Crypto Mining Industry

The bill would have capped how much the grid operator can charge bitcoin miners for electricity.

By Eliza Gkritsi, Adrian BlustDec 6, 2022

Palacio legislativo de Paraguay. (Eliza Gkritsi/CoinDesk)

Tech

Bitcoin Mining Difficulty Drops by Most Since July 2021 as Crypto Winter Cuts Profitability

Bitcoin miners are being caught between rising costs and the lower price of bitcoin.

By Eliza GkritsiDec 6, 2022

Videos

Galaxy Digital Will Buy GK8 From Celsius; Bitcoin Miners’ FTX Contagion Exposure May Amplify Industry Pain

U.S. employers beat expectations and added 263,000 jobs in November, sending bitcoin's price below $17,000. Mike Novogratz's Galaxy Digital won an auction to buy self-custody platform GK8 from bankrupt crypto lender Celsius Network. Bitcoin miners could continue to find themselves in hot water from exposure to FTX's contagion.

Dec 2, 2022

Finance

Bitcoin Miners’ FTX Contagion Exposure May Amplify Industry Pain

Core Scientific, Bitfarms and Genesis Digital Assets are among miners that have direct and indirect exposures to the fallout.

By Eliza GkritsiDec 2, 2022

Obra de IA sobre el colapso. (DALL-E/CoinDesk)

Finance

Compass Mining Launches Bitcoin Miner Protection Plan

The plan is initially available to customers hosted in Texas, South Carolina, Nebraska and Oklahoma.

By Eliza GkritsiDec 1, 2022

Compass Mining's booth at Mining Disrupt in Miami in July 2022. (Eliza Gkritsi/CoinDesk)

Policy

Canada's Manitoba Province Enacts 18-Month Moratorium on New Crypto Mining

The local heavily indebted public utility has received up to 4.6 GW of requests from miners looking to connect to the grid.

By Eliza GkritsiDec 1, 2022

A panoramic view of Winnipeg in Manitoba, Canada. (Bob Linsdell/Wikimedia Commons)

Videos

Here's How New York Is Cracking Down on Bitcoin Mining

New York Governor Kathy Hochul signed into law Tuesday a two-year moratorium on certain bitcoin mining operations that use carbon-based power sources. Zafra CEO Ryan Brienza discusses the bill and how crypto winter is impacting the mining business.

Nov 23, 2022

Videos

Stronghold Digital CEO on State of Bitcoin Mining Amid FTX Fallout

Stronghold Digital Mining CEO Greg Beard discusses his outlook for the bitcoin mining industry as the collapse of crypto exchange FTX continues to ripple across the digital asset space and BTC sinks below $16,000. "The great unwind is happening now," Beard said.

Nov 21, 2022

Finance

Startup Arkon Energy Raises $28M to Further Expand Into Bitcoin Mining

The Australian company also bought Hydrokraft AS, a renewable energy-based data center in Norway with up to 60MW of power capacity.

By Aoyon AshrafNov 17, 2022