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

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

Finance

Bitcoin Miner Maker Canaan Lost $148M in 2019

The Chinese bitcoin miner manufacturer has disclosed it made a net loss of $148.6 million for 2019 on a revenue of $204.3 million.

By Wolfie ZhaoApr 9, 2020

Canaan co-Chairman Jianping Kong is one of three company directors dropped from the miner maker's business registry. (PoolIn)

Tech

Bitcoin Cash Undergoes 'Halving' Event, Casting Shadow on Miner Profitability

Bitcoin Cash, the blockchain network that forked off Bitcoin in 2017, has just reduced its mining rewards by half, causing lots of miners to have nearly zero gross margin.

By Wolfie ZhaoApr 8, 2020

Tech

New Software Fix Offers Bitcoin Miners Increased Security

Startup Braiins has released the first functioning code for a new protocol designed to fix longstanding security problems with bitcoin mining pools.

By Alyssa HertigApr 6, 2020

Markets

Manufacturers Mark Down Bitcoin Miners as Price Drop, Halving Change Calculus

Last month’s bitcoin price crash has prompted manufacturers to sell their mining devices at discounts as steep as 20 percent ahead of the May halving.

By Wolfie ZhaoApr 3, 2020