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.

Markets

Bankrupt Bitcoin Miner Giga Watt Forced to Cease Daily Operations

Bankrupt bitcoin mining firm Giga Watt has said it's shutting down operations after its power was cut and facility access was blocked.

By Yogita KhatriJan 16, 2019

Balaci’s testimony indicates that BitClub never ran the lucrative bitcoin mining pools it lured victim investors with. (Shutterstock)

Markets

Bitcoin Miner Maker Canaan Considering New York IPO: Report

China-based Canaan, the second largest manufacturer of bitcoin mining devices, is considering an IPO in the U.S., according to Bloomberg.

By Yogita KhatriJan 8, 2019

Markets

GMO Quits Selling Mining Machines After Crypto Market Downturn

Japanese IT giant GMO Internet plans to stop making and selling crypto mining machines, only months after launching its B3 miner.

By Yogita KhatriDec 26, 2018

Markets

Miner Maker Ebang Reports 'Significant' Profit Drop in New IPO Filing

Crypto miner maker Ebang has refiled its draft IPO prospectus in Hong Kong, indicating a downturn in business in Q3.

By Wolfie ZhaoDec 21, 2018

Markets

Hong Kong Exchange 'Hesitant' to Approve Bitmain IPO, Says Source

The Hong Kong Stock Exchange is reluctant to approve the IPO applications of Chinese bitcoin mining equipment manufacturers, according to a person involved in the talks.

By Wolfie ZhaoDec 17, 2018

Markets

Intel Wins Patent for Energy-Efficient Bitcoin Mining

An Intel patent awarded Tuesday outlines a method for mining cryptos using the SHA-256 algorithm more efficiently.

By Nikhilesh DeNov 30, 2018

Tech

600K Bitcoin Miners Shut Down in Last 2 Weeks, F2Pool Founder Estimates

Between 600,000 and 800,000 bitcoin miners have shut down since mid-November amid declines in price and hashrate across the network, F2pool's founder estimates.

By Wolfie ZhaoNov 26, 2018

Markets

Giga Watt Drastically Revises Assets in Updated Bankruptcy Filing

Bankrupt U.S.-based bitcoin mining firm Giga Watt just hiked the value of its assets in a revised court filing.

By Yogita KhatriNov 23, 2018

Markets

Bitcoin Mining Firm Giga Watt Declares Bankruptcy Owing Millions

U.S.-based bitcoin mining firm Giga Watt has declared bankruptcy with millions still owed to creditors.

By Yogita KhatriNov 21, 2018

Markets

Binance Warns Iranian Traders to Withdraw Crypto Amid Sanctions

Binance is advising its remaining users in Iran to withdraw their money as the cryptocurrency exchange seeks to comply with renewed U.S. sanctions.

By Leigh CuenNov 15, 2018