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

GMO Has Mined Millions of Dollars in Bitcoin Already

The crypto mine launched by Japanese IT firm GMO Internet has generated more than $3 million in revenue over the past three months.

By Wolfie ZhaoMar 6, 2018

Markets

US City Mulls 18-Month Moratorium on Bitcoin Mining

A proposed law in the City of Plattsburgh would place a moratorium on new commercial cryptocurrency mining operations for 18 months.

By Nikhilesh DeMar 6, 2018

Markets

Bitfury-Backed Bitcoin Miner Hut 8 Prepares to Go Public

Hut 8, two months after announcing its partnership with Bitfury, is preparing to be listed on the TSX Venture Exchange prior to expanding mining ops.

By Nikhilesh DeFeb 12, 2018

Markets

Icelandic Lawmaker Floats Bitcoin Mining Tax

An Icelandic lawmaker has suggested imposing a new tax on the bitcoin miners that are flocking to the country.

By Stan HigginsFeb 12, 2018

Markets

Samsung Confirms It's Now Making Crypto Mining Chips

Samsung has confirmed it is now manufacturing cryptocurrency mining chips after reports earlier this week.

By Sujha SundararajanFeb 1, 2018

Markets

Samsung Is Now Building Bitcoin Mining Chips, Report Says

Samsung is manufacturing bitcoin mining chips in partnership with an unidentified Chinese firm, according to an Asian news report.

By Annaliese MilanoJan 31, 2018

Markets

ViaBTC Increases Cloud Mining Fee Citing China's Mining Resource Scarcity

China's crypto mining pool ViaBTC increases its maintenance fee ratio for AntMiner S9 cloud mining contract, citing mining resource scarcity in China.

By Wolfie ZhaoJan 16, 2018

Markets

Quebec Lures Cryptocurrency Miners as China Sours on Industry

Cheap and abundant electricity, cold weather and a stable political climate are making the Canadian province attractive to bitcoin mining operators.

By Aaron StanleyJan 10, 2018

Markets

Bitcoin Mining Wastes Energy? What If That's Good?

Long-term, the incentives bitcoin creates may drive efficiency and green energy solutions in the crypto world and even spur them in the wider economy.

By Michael J. CaseyJan 9, 2018