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 Halving Is Coming and Only the Most Efficient Miners Will Survive

Only the miners with the lowest energy costs and most efficient equipment will survive the once-every-four-years event.

By Eliza GkritsiJun 7, 2023

Bitcoin miners at work (Eliza Gkritsi/CoinDesk)

Finance

El Salvador's Volcano Energy Secures $1B in Commitments for 241 MW Bitcoin Mine

Stablecoin issuer Tether is among the investors in the new bitcoin mining site powered by solar and wind energy in El Salvador.

By Eliza GkritsiJun 5, 2023

Pequeña bandera ondeando en la parte superior del ayuntamiento en la ciudad de Santa Ana, El Salvador. (Getty Images)

Tech

Marathon Digital Mined 77% More Bitcoin in May With the Help of Its Software

The spike in bitcoin mining is likely due to its mining machines producing at higher capacity than April.

By Eliza GkritsiJun 2, 2023

Marathon Digital CEO Fred Thiel (CoinDesk)

Videos

Bitcoin Miners Likely Selling Their Output at the $28K Level: Matrixport

Bitcoin (BTC) is experiencing selling pressure at the $28,000 price level, and miners may be responsible, crypto services provider Matrixport said in a new report. Miners are being forced to liquidate any new bitcoin mined as margins have narrowed in recent weeks, the report said. "The Hash" panel discusses the key takeaways and what it suggests about the state of bitcoin mining operations.

Jun 2, 2023

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