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.

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

Finance

Negative Oil Prices Could Hurt Bitcoin Miners Who Use Flared Gas

North American bitcoin miners who've bet on fossil-fuel extraction to power their rigs are watching the oil markets closely as prices sink to historic lows.

By Leigh CuenApr 20, 2020

Finance

In Canada They're 'Essential,' In Argentina They're Shut Down: Bitcoin Miners Reckon With COVID-19

Here's how the "Great Lockdown" is redrawing the bitcoin mining landscape. The halving and economic crisis may be priced-in – but local politics aren't.

By Leigh CuenApr 17, 2020

Markets

Bitcoin Mining Hardware War Is Heating Up Ahead of the Halving

MicroBT is rolling out three top-of-the-line bitcoin miners hoping to eat further into Bitmain's market dominance at a key time for the industry.

By Wolfie ZhaoApr 17, 2020

MicroBT COO Chen Jianbing. (Credit: MicroBT)

Markets

Riot Blockchain Moves Part of Bitcoin Mining Operation to Upstate New York

Bitcoin miner Riot Blockchain has sent a portion of its newly acquired S17 Pro Antminers from an Oklahoma facility to upstate New York, tapping excess power in a colocation deal with Coinmint.

By David PanApr 15, 2020

Coinmint, a crypto data center in upstate New York, is set to host a portion of new miners from Riot’s Oklahoma City facility. (Credit: Shutterstock)

Finance

Bitmain Partially Refunds Bitcoin Miner Buyers After Price Cuts

The Beijing-based firm is sending out cash coupons to customers who pre-ordered its latest bitcoin miners ahead of recent price markdowns.

By Wolfie ZhaoApr 14, 2020

Finance

New York Power Plant Sells 30% of Its Bitcoin Mining Hashrate to Institutional Buyers

Greenidge Generation, an upstate New York power plant that's using proprietary facility to mine bitcoin, has sold up to 30 percent of its computing power to institutional buyers.

By Wolfie ZhaoApr 10, 2020