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.

Videos

Marathon Digital CEO Addresses Newly-Passed Mining Bills in Texas

In the past few weeks, two crypto mining bills, SB 1929 and HB 591, are awaiting Texas Gov. Greg Abbott’s signature. The legislation shows support for miners. Marathon Digital Holdings CEO Fred Thiel breaks down how the bills could impact crypto miners in the Lone Star state.

Jun 2, 2023

Policy

Bitcoin Miners Gain Support From Texas With Two Bills Passed, One Halted

Two bills that seem to embrace mining have been sent to the governor, whereas one that would adversely affect miners was stopped at the committee stage.

By Eliza GkritsiJun 1, 2023

Finance

Bitcoin Miner CleanSpark Buys 12,500 Bitmain Machines for $40.5M

The company has been busy scooping up assets during the crypto bear market, but discounts may be slimming.

By Eliza GkritsiJun 1, 2023

CleanSpark CEO Zach Bradford and Executive Chairman Matt Schultz (Eliza Gkritsi/CoinDesk)

Finance

Washington Ignored Crypto for Now. That’s Good for Bitcoin.

A huge tax on BTC miners didn’t make it into a deal to resolve the battle, and a separate provision might actually (unintentionally) help them.

By Glenn Williams Jr.May 31, 2023

Policy

Texas Bill That Would Limit Miners' Participation in Cost-Saving Grid Programs Stopped in House Committee

The legislation would have capped the industry's participation in demand response programs.

By Eliza GkritsiMay 30, 2023

Finance

Stablecoin Issuer Tether Invests in Sustainable Bitcoin Mining in Uruguay

The company earlier this month announced plans to invest part of its profits in BTC purchases and infrastructure.

By Krisztian SandorMay 30, 2023

Tech

Bitcoin Mining Difficulty’s Record Setting Streak Shows No Signs of Stopping

The difficulty of mining bitcoin is poised to set a new all-time high this week as miners continue to deploy new mining machines to cash in on recent spike in revenue.

By Eliza GkritsiMay 30, 2023

Policy

Coinmint Sues California Chipmaker for $23M, Alleging ‘Elaborate Deception’

The mining firm, which has been embroiled in several legal battles, describes an elaborate fraud scheme for a $150 million contract.

By Eliza GkritsiMay 26, 2023

Coinmint's 10-megawatt facility in Skyway Plaza. (CoinDesk/Fran Velasquez)

Finance

USBTC Aims to Become Bitcoin Mining Giant After Deal to Buy Celsius Assets

The miner could get as much as $75 million in management fees for the Celsius mining rigs over five years.

By Eliza GkritsiMay 26, 2023

Finance

Nvidia's Blockbuster Outlook Reminds Bitcoin Miners to Give AI a Look

Some BTC miners might find non-mining AI applications too tantalizing to pass up.

By Eliza GkritsiMay 25, 2023