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

Bitcoin Miners Cipher, CleanSpark and MARA Upgraded at JPMorgan

The bank updated estimates for a number of mining stocks in its coverage following third quarter results and recent gains in bitcoin and the hashrate.

By Will CannyDec 10, 2024

Markets

Bitcoin Miners Approach $40B Market Cap as Difficulty Set for Fifth Straight Increase

The bitcoin hashrate is still soaring as mining difficulty looks to increase for a fifth consecutive time.

By James Van StratenNov 28, 2024

Coinmint, a crypto data center in upstate New York, is set to host a portion of new miners from Riot’s Oklahoma City facility. (Credit: Shutterstock)

Finance

Bitcoin Miner IREN Surges on Renewed AI Interest, Possible BTC Dividend Payment

The shares rose 30% after executives discussed fiscal first-quarter earnings on a conference call.

By Aoyon AshrafNov 27, 2024

Markets

The Subtle Way AI Data Centers Boost Bitcoin Mining Economics

The competition for cheap electrons could establish a floor for hashprice, or at least slow down hashrate growth.

By Tom CarrerasNov 20, 2024

A bitcoin mining operation. (Cipher Mining)

Markets

El Salvador's Bitcoin Stash Rises Above $500M, but Bhutan Story Might Be Even Bigger

Monday’s bitcoin rally propelled El Salvador and Bhutan’s crypto stashes to $500 million and $1.1 billion respectively.

By Tom CarrerasNov 12, 2024

Nayib Bukele, president of El Salvador (Ulises Rodriguez/APHOTOGRAFIA/Getty Images).

Finance

Jack Dorsey's Square to Invest More in Bitcoin Mining and Shut Decentralized 'Web5' Venture

The firm is redoubling efforts to supply miners as that industry struggles with profits — and Donald Trump promises help.

By Aoyon AshrafNov 7, 2024

Jack Dorsey speaks at Consensus 2018 (CoinDesk)

Finance

Michael Novogratz's Galaxy Looks to AI Computing as Bitcoin Mining Revenue Falls

The firm signed a non-binding deal with a hyperscaler firm to potentially allocate all of its 800 megawatts power to hosting high-performance computers.

By Aoyon AshrafNov 7, 2024

Mike Novogratz, Galaxy founder and CEO, speaks at Consensus 2024

Markets

Bitcoin Mining Difficulty Tops 100T for First Time, Piling Pressure on Small Miners

The Bitcoin hashrate, on a seven-day moving average, hit a record high of 755 EH/s last week.

By James Van StratenNov 5, 2024

BTC: Miner percent mined supply spent (Glassnode)

Finance

'There's No Catch': Bitcoin Mining Startup Promises Free Money to Renewable Energy Companies

Bitcoin mining could eventually help develop a global index for the price of electricity, according to Sangha Renewables President Spencer Marr.

By Tom CarrerasNov 4, 2024

Spencer Marr, president and co-founder of Sangha Renewables (Spencer Marr).

Policy

Bitcoin Mining Bans Can Backfire on Climate Conscious Governments, a New Research Finds

The intensive energy usage of the Bitcoin network could tempt governments to ban mining due to environmental concerns. A new research paper indicates that could be a mistake, depending on the jurisdiction.

By Tom CarrerasNov 1, 2024