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

Is Bitcoin Due for a Lower Fall?

Bitcoin rebounded after it slipped below $30K Tuesday morning, but is it due for a lower fall? Secure Digital Markets’ Mostafa Al-Mashita weighs in, exploring the possible impact of China’s continued crypto crackdown. Plus, his outlook on institutional activity as MicroStrategy (MSTR) shares were hit hard amid bitcoin’s price drop.

Jun 22, 2021

Videos

Impact of China’s Crypto Crackdown

Ben Gagnon, Chief Mining Officer of Canadian bitcoin miner BitFarms, on what to make of China’s crackdown on mining operations. Plus, his outlook for the mining community in China and across the globe.

Jun 22, 2021

Videos

Bitcoin Price Drops Below $30K for First Time Since January

Bitcoin is edging back up from a low below $30K, a key psychological threshold not met since January. “The Hash” team explores the potential factors driving BTC’s price drop, particularly concerns around China’s crypto mining crackdowns and its central bank ordering banks to stop facilitating crypto transactions in the country.

Jun 22, 2021

Videos

Stronghold Digital Mining Raises $105M to Turn Waste Coal Into Bitcoin

Digital asset mining firm Stronghold Digital Mining has raised $105 million to turn waste coal to bitcoin. This comes on the heels of rising concerns about bitcoin’s carbon footprint that have signaled pivots to more environmental, social, and governance (ESG)-friendly mining.

Jun 22, 2021

Finance

Stronghold Digital Mining Raises $105M to Turn Waste Coal Into Bitcoin

The mining firm has a power plant in remote Kennerdell, Pa., using an alternative energy source grouped with hydropower in environmental impact.

By Eli TanJun 22, 2021

Stronghold's power plant in Northeastern Pennsylvania.

Markets

Market Wrap: Bitcoin Slides to Two-Week Low, Ether to Below $2K as China Reiterates Crypto Ban

CME's bitcoin futures goes into "backwardation" and BTC inflows to exchanges rise as China "FUD" continues.

By Muyao ShenJun 21, 2021

Podcasts

Facts and Misinformation About ‘Green Bitcoin,’ With Jonathan Koomey

By Dan Ilett, Anna Baydakova, Danny Nelson, Benjamin Schiller, Danny BradburyJun 21, 2021

Markets

Chinese Logistics Firm Airlifting Bitcoin Mining Machines to Maryland: Report

"Compared to the amount of miners that get shipped regularly, it's just a small batch," a mining source told CoinDesk.

By Jamie CrawleyJun 21, 2021

Videos

Could the Heat and Feared Blackouts in Parts of the U.S. Affect Bitcoin Mining Operations?

Texas and other U.S. states across the West are facing energy grid shortfalls this summer as severe drought reduces the amount of water available for hydroelectric power generation, says the Wall Street Journal. CoinDesk's Christie Harkin and Brad Keoun discuss the possible impact of power shortages for miners in the area and the wider crypto mining community.

Jun 18, 2021

Videos

Bitcoin Remains Relatively Resilient Post-Fed as Fiat Currencies Drop Against Dollar

CoinDesk Managing Editor of Technology Christie Harkin and Managing Editor of Markets Brad Keoun discuss this past week's top stories moving the crypto markets, including the Fed's announcement of raising interest rates, hedge funds pledging more capital to crypto, the impact of El Salvador's currency law, rising ESG concerns, China's crackdowns on bitcoin mining operations, and Taproot activation.

Jun 18, 2021