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

Crypto.com Becomes Formula 1 Inaugural Global Partner of Sprint Series

Kris Marszalek, CEO of Crypto.com, the fastest-growing crypto platform, discusses teaming up with Formula 1 as the inaugural global partner of the new Sprint series and why crypto exchanges are upping their budget for marketing and sponsorships. Plus, the impact of China's continued crackdowns on the mining industry.

Jun 29, 2021

Markets

Bitcoin's 'Puell Multiple' Flashes Misleading Bullish Signal as China Bans Mining

The metric is tied to miners and may be distorted by China's mining ban.

By Omkar GodboleJun 29, 2021

Markets

Market Wrap: Cryptocurrencies Rise Despite Binance UK Warning

Crypto markets rose despite regulatory crackdowns from the U.K. and China. Analysts expect continued resiliency above $30K support.

By Damanick Dantes, Frances YueJun 28, 2021

Bitcoin 24-hour price chart, CoinDesk 20

Markets

Bitcoin Mining Hashrate Drops to 1-Year Low; Difficulty Set for 25% Decrease

Concerns about the extent of the China crackdown have contributed to the past months' decline in bitcoin's price to about $34,200.

By Frances YueJun 28, 2021

bitcoin mining machines at a mining facility operated by Bitmain Technologies Ltd. in Ordos, Inner Mongolia

Markets

Hut 8 Adds Over 500 Bitcoin to Balance Sheet in 3 Months

The Toronto-based firm said it expects the figure of 3,806 to grow to around 5,000 by year's end.

By Jamie CrawleyJun 28, 2021

Videos

The Case for Binance: Global Regulators Reining In?

Regulators in Canada, Japan, and the U.K. are issuing warnings against Binance for operating in their territories. PwC Global Crypto Leader Henri Arslanian discusses the global regulatory risks against Binance and what this means for its users and other crypto exchanges. Plus, where are the bitcoin miners moving to next following China's crypto ban?

Jun 28, 2021

Markets

Crypto Long & Short: This Bear Market May Not Last Long

Cryptocurrency markets will likely stay under sell pressure for the next few weeks, but data points indicate this bear market may be short-lived.

By Galen MooreJun 27, 2021

Podcasts

The Great Western Hashrate Migration Is Real

By Nathaniel WhittemoreJun 27, 2021

Videos

Why the Crypto Markets Might Take Another Dive Next Week

CoinDesk Managing Editor of Technology Christie Harkin joins "All About Bitcoin" host Christine Lee to explore what to expect next week in the crypto markets, where the miners might be heading following China's crypto ban and why we may see some short-term downside.

Jun 25, 2021

Finance

Bitcoin Miner TeraWulf to Merge With Nasdaq-Listed Ikonics

The new company will bear TeraWulf's name and is expected to trade on Nasadaq under the ticker "WULF."

By Jamie CrawleyJun 25, 2021