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

Bitcoin’s Outlook for Next Week

By some estimates, bitcoin’s price next week may range from the mid-$50Ks to as low as $29K. “All About Bitcoin” discusses bitcoin’s possible outcomes next week. Plus, an update on the China bitcoin mining situation and a discussion of how institutional investors are responding to the dip.

Apr 23, 2021

Markets

Jackson, Tennessee, in ‘Prime Position’ to Be a Bitcoin Leader, Says Mayor

The city is exploring paying its employees in bitcoin and adding bitcoin mining to its balance sheet.

By Cameron HoodApr 22, 2021

Videos

Does Bitcoin Have an Energy Problem?

Many bitcoin mining operations are using renewable energy to power their computers, especially hydroelectric power. CoinDesk’s Managing Director of Research Noelle Acheson joins “All About Bitcoin” to break down the environmental impact of mining and how it can be improved by making renewable energy more cost effective.

Apr 22, 2021

Videos

Which Energy Sources are Bitcoin Miners Using?

Bitcoin mining has been attacked for being environmentally taxing, but many mining operations are actually powered with renewable energy. Christine Lee breaks down the power sources used by miners worldwide in today's Chart of the Day.

Apr 22, 2021

Policy

Chinese Crypto Miners Face Unstable Regulatory Environment

Tightening regulations have unnerved some crypto miners in China.

By David PanApr 22, 2021

Crypto miners in China took advantage of low energy rates and a lax regulatory environment, but this may be changing.

Videos

Is Bitcoin Mining Really Bad for the Environment?

It’s Earth Day, and many in the crypto sphere are thinking about ways to make crypto mining more environmentally friendly. Jesse Phillips of Binance Mining Pool joins “First Mover” to discuss the energy impact of crypto mining, how it compares to the fiat economy, and how mining pools can make crypto mining more eco-friendly.

Apr 22, 2021

Tech

Everything We Want Costs Energy, Including Bitcoin

What’s essential is situating bitcoin mining and energy in a larger context.

By Benjamin PowersApr 22, 2021

How do we ascribe value to the "stuff" we want?

Tech

CoinDesk Research: Does Bitcoin Have an Energy Problem?

Bitcoin does consume a lot of energy, but it also incentivizes renewable energy through improving economics and distribution.

By Noelle AchesonApr 22, 2021

A distributed datacenter designed to capture methane emissions from oil and gas operations to power bitcoin mining.

Finance

Bitcoin Broker NYDIG Acquires Firm That Finances Mining Farms

The Stone Ridge spin-off is adding Arctos Capital to the mix.

By Zack SewardApr 22, 2021

Videos

How a Chinese Mining Accident Caused a Bitcoin 'Flash Crash'

Blackouts in China caused by coal plant accidents have been blamed for knocking out the world's biggest bitcoin mining operation in Xinjiang and cutting the global hashrate by nearly 50%. But despite the panic, the Bitcoin network continued to function normally. Jason Les of Riot Blockchain joins "First Mover" to discuss the resilience of the Bitcoin network.

Apr 21, 2021