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.

Markets

Fidelity Takes 7.4% Stake in Marathon Digital

The investment reflects growing institutional and individual interest in investing in crypto-related companies.

By Nelson WangAug 5, 2021

Pedestrians pass a Fidelity Investments office in Boston, Ma

Tech

Open-Source Blockchain Explorer Scores Foundry Development Grant

While small in dollar terms, the grant represents an investment in the further decentralization of the Bitcoin ecosystem.

By Marc HochsteinAug 5, 2021

Foundry, based in Rochester, N.Y., provides services to crypto miners such as equipment financing and pooling.

Markets

Marathon Digital Bitcoin Generation Increased 66% in July

The mining company now has 6,226 bitcoins with a market value of $260.7 million.

By Tanzeel AkhtarAug 3, 2021

Finance

Hive Purchases 4,000 Bitcoin Mining Machines From Canaan

The order will be completed in two tranches by the end of September.

By Jamie CrawleyAug 3, 2021

Markets

Stronghold Digital Mining Acquires Second Power Plant

The mining firm has acquired a second power plant in northeastern Pennsylvania just a week after filing for a $100 million IPO.

By Eli TanAug 3, 2021

Stronghold acquires its second power plant.

Videos

Marathon Digital to Buy $121M of Mining Machines

Las Vegas-based mining company Marathon Digital, which some say is helping drive bitcoin mining investment in North America, has reportedly agreed to buy 30,000 Antminer S19J Pro bitcoin mining machines worth $120.7 million from major ASIC chips manufacturer Bitmain.

Aug 2, 2021

Finance

Banished Chinese Bitcoin Miners Look to the West, and Far Beyond

One lesson Chinese miners have learned from the ban: Don't put all your eggs in one basket.

By David PanAug 2, 2021

Videos

Busan Plans Digital Asset Exchange, Tencent Launches Digital IOUs

The Korean city of Busan plans a digital asset exchange. Bitcoin mining difficulty on the increase. Tencent launches a digital IOU platform. More on that story and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”

Jul 30, 2021

Videos

Bitcoin Miners Can Escape US Taxes by Mining Direct to IRAs

Through an agreement with Choice IRA, a crypto-friendly retirement offering by digital asset custodian Kingdom Trust, U.S. clients of Compass Mining can now avoid a tax on the bitcoin they mine by buying mining hardware through their individual retirement accounts (IRAs). "The Hash" team digs into the development and the implications for investors.

Jul 29, 2021

Videos

India Admits No Crypto Data; Korean Crypto Investor Numbers Plummet

Crypto mining investment outside China booms. India’s government admits it collects no data on crypto exchanges. Number of new crypto investors plummets in South Korea. We’ll have more on that story and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”

Jul 29, 2021