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

Bitcoin Miner Bit Digital Diversifies Into AI for 'Substantially Higher Margin' Than Mining

The firm is looking for a "reliable income stream ... that is uncorrelated to bitcoin prices."

By Aoyon AshrafOct 23, 2023

Finance

Bitcoin Miner Marathon to Custody Some of Its BTC With Fidelity Digital

The miner is adding Fidelity to diversify its bitcoin (BTC) custody.

By Aoyon AshrafOct 18, 2023

Safe Vault (Pixabay, modified by CoinDesk)

Finance

Bitcoin Mining Industry Is at a ‘Crucible Moment,’ JPMorgan Says

The bank initiates research coverage of CleanSpark (top pick), Marathon Digital, Riot Platforms and Cipher Mining.

By Will CannyOct 11, 2023

Bitmain Antminer mining rigs (Christie Harkin/CoinDesk)

Finance

Galaxy's Head of Mining Amanda Fabiano Departed to Start Consulting Company

Fabiano’s new company will work with bitcoin mining companies including Compass Mining and Giga Energy.

By Aoyon AshrafOct 3, 2023

Galaxy's former head of mining, Amanda Fabiano (Amanda Fabiano, modified by CoinDesk))

Videos

Ex-Celsius Exec Pleads Guilty; Coinbase Earned $1M Amid Hack

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest crypto headlines today, including details on a former Celsius Network executive pleading guilty to U.S. criminal charges. According to market observers, Coinbase is sitting on a roughly $1 million profit tied to a hack. And, bitcoin mining pool F2Pool has returned 19.8 bitcoin (BTC) to Paxos.

Sep 15, 2023

Opinion

An Open Letter to President Biden Regarding Bitcoin Mining

Proof-of-work mining could be a key component of the administrations plans to expand renewables and upgrade America's infrastructure.

By Zach BradfordAug 29, 2023

Videos

Bit Digital CEO on Q2 Earnings, Headwinds in the Mining Industry

Mining company Bit Digital reported its latest quarterly earnings results this week. The company earned 318.4 bitcoins during the second quarter of 2023. Bit Digital CEO Sam Tabar joins "First Mover" to discuss why bitcoin's (BTC) price is a major headwind for the mining industry. Plus, insights on their nearly carbon-free operations and the miner's fairly recent expansion into Iceland.

Aug 17, 2023

Finance

Bitcoin Miner Riot Posts Mixed Q2 Earnings Report, Sees Growing Consolidation in Industry

Riot Platforms reported its second-quarter earnings after the close on Wednesday.

By Nelson WangAug 9, 2023

A close-up of one of Riot's mining rigs. (Riot Blockchain)

Finance

Bitmain, Anchorage Expected to Take Equity in Bitcoin Miner Core Scientific as Part of Bankruptcy Plan

The world's largest crypto mining machine maker is set to take a $54 million stake in Core Scientific as the miner emerges out of Chapter 11 proceedings.

By Eliza GkritsiAug 8, 2023