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.

Finance

Luxor Starts New Business to Make Shipping of Bitcoin Mining Rigs Faster

The bitcoin mining services firm had previously shipped over $245 million worth of equipment to more than 30 countries.

By Aoyon AshrafNov 20, 2023

Supply Chain (Shutterstock)

https://www.shutterstock.com/image-photo/container-ship-import-export-business-logistic-705020668

Finance

Bitcoin Miner Marathon Digital Beats Q3 Earnings Estimates, but Misses on Revenue

The company sees 2023 mining power guidance reaching 26 EH/s, making it the largest bitcoin mining firm in terms of hash rate.

By Aoyon AshrafNov 8, 2023

Marathon Digital CEO Fred Thiel (CoinDesk)

Videos

Marathon Digital CEO on Testing BTC Mining With Methane Gas From Waste Landfill

Bitcoin miner Marathon Digital has teamed up with Nodal Power for a 280 kilowatt pilot mining project in Utah that is using methane gas generated from landfill waste to power mining operations. Marathon Digital Holdings CEO Fred Thiel discusses the partnership and the broader state of bitcoin mining, explaining how "long-term, bitcoin miners can essentially become energy negative."

Nov 7, 2023

Videos

Bitcoin Mining Stocks Climb This Week as BTC Hovers Near 17-Month High

Bitcoin mining stocks soared Thursday as bitcoin (BTC) itself traded around a 17-month high. Shares of U.S.-listed mining companies such as Marathon Digital (MARA), Riot Platforms (RIOT) and CleanSpark (CLSK) rallied during the day amid a wider surge in equities. The largest cryptocurrency by market cap is currently trading around $34,500. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

Nov 3, 2023

Finance