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

RETRACTION: Compute North Did Not Pay Execs $3M on the Day It Declared Bankruptcy

The filing states the money was paid over the course of the year ended Sept. 22, not that day as CoinDesk reported earlier based on a mistaken reading of the document.

By Eliza GkritsiNov 3, 2022

Compass' Wolf Hollow site in Granbury, Texas (Compute North)

Finance

Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October

Marathon increased its hashrate by 84% in October in setting its new monthly high.

By Eliza GkritsiNov 2, 2022

MARA Holdings CEO Fred Thiel, at the Bitcoin conference in Miami (CoinDesk)

Videos

Fed Suggests Shift in Tightening Policy; Rogue Actor Disrupts Lightning Network With One Transaction

The U.S. Federal Reserve hinted a potential change in its monetary policy at its latest meeting Wednesday. Twitter user "Burak" (@brqgoo) allegedly created a non-standard Bitcoin transaction that prevented users from opening new Lightning channels. Bitcoin miner Iris Energy (IREN) said some of its mining equipment, owned by special-purpose vehicles, aren't producing enough cash to meet financing obligations.

Nov 2, 2022