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 Sphere3D Downsizes Deal for Machines With BitFuFu

Sphere 3D is the latest bitcoin mining firm to try to cut capital expenditures amid the crypto bear market.

By Eliza GkritsiOct 20, 2022

Videos

Crusoe Energy Systems CEO on Bitcoin Mining Outlook

Last week, bitcoin mining difficulty surged to an all-time high. Chase Lochmiller, Crusoe Energy Systems co-founder and CEO, discusses what this means for business operations and the outlook for the bitcoin mining industry. Plus, insights into the $350 million Series C raise and M&A strategy amid crypto winter.

Oct 17, 2022

Videos

Client Demand for Crypto Led to BNY Mellon's Custody Offering; FTX.US Under Scrutiny Over Securities Allegations

Client demand for crypto was the key factor in launching a crypto custody offering, said BNY Mellon CEO Robin Vince. The Texas State Securities Board is investigating FTX.US over allegations it offers unregistered securities products in the U.S. through its yield-bearing service. It took more than an hour to mine a block of bitcoin (BTC) on Monday.

Oct 17, 2022

Finance

Binance to Launch Cloud Mining Business in November

The crypto exchange's hashrate pool is pushing into the troubled crypto mining industry.

By Eliza GkritsiOct 17, 2022

Videos

Binance Pool Starts $500 Million Fund for Bitcoin Mining

Cryptocurrency exchange Binance has started a $500 million lending project for private and public bitcoin (BTC) miners. "The Hash" panel discusses the outlook for Binance amid crypto winter.

Oct 14, 2022

Finance

A Huge Glut of Bitcoin Mining Rigs Is Sitting Unused in Boxes

The situation is further disrupting the economics of a sector already hit by low crypto prices and high energy costs.

By Eliza GkritsiOct 14, 2022

Finance

Bitcoin Miner Stronghold Digital Bolsters Balance Sheet by Cutting Costs, Slashing Debt by More Than 60%

Stronghold won't have to pay up to $25 million of profit share to Northern Data, after ending bitcoin mining rig hosting deal.

By Eliza GkritsiOct 14, 2022

Stronghold Digital Mining CEO Greg Beard (right) and Co-Chairman Bill Spence (left).
(Stronghold Digital Mining)

Finance

Binance Pool Starts $500 Million Fund to Support Bitcoin Mining

The entity is the latest to join the growing ranks of alternative lenders looking to provide capital to the distressed mining industry.

By Sam ReynoldsOct 14, 2022

Videos

Texas Blockchain Council Exec: ‘Embarrassing’ to See Senators Concerned Over Bitcoin Mining’s Energy Use in Texas

A group of seven Democratic lawmakers in Washington, D.C., led by Sen. Elizabeth Warren (D-Mass.) are looking into the energy usage and carbon emissions of the bitcoin mining industry in Texas as well as the impact on the grid and local consumers. Texas Blockchain Council's Director of Bitcoin Analytics Steve Kinard weighs in.

Oct 13, 2022

Finance