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

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

(jejim/Shutterstock)

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

Mao Shixing

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

Cryptocurrency mining machines

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

shutterstock_shutterstock_772693789

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

iran_rial_dollars_currency_shutterstock

Markets

A Bitcoin Mining Moratorium Was Just Avoided in Montana

Officials in Missoula County, Montana, will investigate regulations around bitcoin mining despite local demands for a moratorium.

By Stan HigginsOct 1, 2018

salon2

Markets

Just a Cycle? Big Bitcoin Miners Stay Positive in Face of Market Slump

Executives from several bitcoin mining firms have said at Consensus Singapore that they are not concerned by current low crypto prices.

By Wolfie ZhaoSep 20, 2018

IMG_4596

Markets

Bitfury Reveals New Generation of Bitcoin ASIC Chips

Bitfury Group unveiled a new generation of bitcoin mining ASICs on Wednesday, boasting greater efficiencies than previous models.

By Anna BaydakovaSep 20, 2018

bitfuryclarke

Markets

Genesis Mining to End Unprofitable Crypto Contracts

Cloud mining service Genesis Mining is forcing some clients to upgrade to a five-year subscription or else lose services, it announced Thursday. 

By Anna BaydakovaAug 16, 2018

Bitcoin ASIC miner (CoinDesk Archives)

Markets

Bitmain Confirms New Crypto Mining Facility in Texas

Bitcoin mining hardware giant Bitmain is officially setting up shop in Rockdale, Texas, and expects to launch mining operations early next year.

By Christine Kim, Nikhilesh DeAug 6, 2018

Mining
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