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

Apple Blocks Crypto Mining Apps On Its Products

In a recent update, Apple expanded their initial guidelines on cryptocurrencies to include policies on wallets, mining, exchanges, ICOs, and more.

By Christine KimJun 12, 2018

shutterstock_229132252

Markets

GMO Launches Mobile App That Lets Gamers Earn Bitcoin

Japan's GMO Internet Group has developed a new mobile app that aims to introduce the public to bitcoin simply by playing games.

By Wolfie ZhaoJun 1, 2018

mobile game

Markets

Bitcoin Miner Maker Canaan Files for Hong Kong IPO

China-based Canaan Creative, one of the largest bitcoin mining hardware makers, has filed for an IPO in Hong Kong.

By Wolfie ZhaoMay 21, 2018

Credit: CoinDesk archives

Markets

Iceland's Missing Bitcoin Miners May Be In China

Icelandic police think Chinese authorities may have discovered where its 6,000 missing bitcoin mining computers have gone.

By Nikhilesh DeMay 7, 2018

mine

Markets

'Belligerent' Crypto Miners Prompt Power Utility to Beef Up Security

Chelan County's Public Utilities District is enacting new security measures to protect employees from bitcoin miners.

By Nikhilesh DeMay 3, 2018

CCTV

Markets

Cisco Claims New Patent Could Apply to Bitcoin Mining

A Cisco patent suggests that internet customers would be able to create a distributed mining pool through a proprietary cloud application.

By Nikhilesh DeApr 25, 2018

Mining

Markets

Bitcoin Miners Arrested for Alleged Power Theft

Allegations of electricity theft have reportedly led to the arrest of bitcoin miners and equipment seizures in two Chinese cities.

By Wolfie ZhaoApr 25, 2018

wire

Markets

Bitcoin Miner Blames Trading Crackdown in China for Shooting

Toughened bitcoin trading rules in mainland China may have led to a Taiwanese bitcoin miner being shot by gangland investors, a report suggests.

By Wolfie ZhaoApr 16, 2018

bitcoin bullet

Markets

OFAC's Bitcoin Blacklist Could Change Crypto

With just one paragraph, an agency of the U.S. government may have just radically altered the dynamics of the cryptocurrency ecosystem.

By Andrew Hinkes, Joe CiccoloMar 24, 2018

dark bitcoin

Markets

Plattsburgh's Crypto Mining Ban Could End Earlier Than Expected

Plattsburgh imposed an 18-month halt on new commercial cryptomining operations, but indicated it could end sooner if protections are put in place.

By Nikhilesh DeMar 19, 2018

plattsburgh
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