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 Mining Difficulty Nears All-Time High in Final Adjustment Before Halving

Bitcoin mining difficulty increased to 16.10 trillion (T) on Tuesday, close to the network’s all-time high of 16.55T recorded in March.

By Wolfie ZhaoMay 5, 2020

Finance

US Court Dismisses Lawsuit Over Riot Blockchain's Crypto Pivot

A U.S. judge has dismissed a lawsuit alleging the firm changed its name to include "blockchain" in 2017 to boost its share price.

By Paddy BakerMay 4, 2020

Markets

Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16

In a significant deviation from the norm, bitcoin miners just produced 16 blocks in 63 minutes.

By Zack VoellMay 1, 2020

BUSY: A recent surge in mining power may have overcome the difficulty rate. (Credit: Shutterstock)

Markets

Older Mining Machines Turn Profitable Again as Bitcoin Rises Ahead of Halving

Older mining models can now earn 10-20% gross margins after bitcoin’s price jumps to two-month highs.

By Wolfie ZhaoApr 30, 2020

Mining machines (GreenBelka/Shutterstock)

Markets

Chinese City Known for Bitcoin Mining Seeks Blockchain Firms to Burn Excess Hydropower

A Chinese city in the world's bitcoin mining hub is publicly encouraging the blockchain industry to help consume excessive hydroelectricity.

By Wolfie ZhaoApr 28, 2020

Tech

The Rise of ASICs: A Step-by-Step History of Bitcoin Mining

The machines that maintain the Bitcoin network have undergone rapid technological development. Here's a detailed look at that evolution and at what might lie ahead.

By Christine KimApr 26, 2020

Finance

Bitcoin Miner Maker Ebang Files for a $100M US IPO

Ebang International Holdings, one of the leading makers of bitcoin mining equipment, is taking another stab at going public, this time in the U.S.

By David PanApr 25, 2020

RISK FACTOR: “The significant drop in the Bitcoin price is expected to have a negative effect on the value of our bitcoin mining machine inventory and incentivize us to increase credit sales,” Ebang’s filing warns. (Credit: Shutterstock)

Markets

Bitcoin Halving 2020: The 'Arms Race' for Miner Efficiency Intensifies

In the lead-up to the next bitcoin halving event in May, some bitcoin miners are looking at leveraging what some describe as “surplus energy” to make operations even more cost-effective.

By Christine KimApr 25, 2020

Finance

Arctos Inks $1M Sale and Leaseback Deal With Bitcoin Miner Blockware

The mining company will use the funding to expand its operations in the U.S.

By Sebastian SinclairApr 23, 2020

Markets

China's Rainy Season Is Coming. This Time Bitcoin Miners Aren't Investing

With bitcoin’s price drop and imminent halving, mining farms in China are struggling to fill slots despite the coming rainy season, when power is cheap.

By Wolfie ZhaoApr 23, 2020