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

DeFi Platform Maple Finance Aims to Help Struggling Bitcoin Miners With $300M Lending Pool

The DeFi platform is launching its first fully collateralized, industry-specific lending pool with up to 20% interest rate as bitcoin miners are finding it tough to raise capital.

By Eliza GkritsiSep 20, 2022

A Bitfarms mining facility in Washington State. (Eliza Gkritsi/CoinDesk)

Finance

Bitcoin Miner Bitfarms Starts Production in Argentina, Increases Hashrate to 4.1 EH/s

The Canadian company plans to open a second mining site in the country, which has low electricity costs, next year.

By Eliza GkritsiSep 19, 2022

Un empleado de Bitfarms supervisa hardware de minería de bitcoin. (Aoyon Ashraf/CoinDesk)

Finance

Bitcoin Miner Iris Rises as Compass Point Upgrades on Potential Boost in Hashrate

Compass Point’s analyst upgraded Iris’ stock to a buy recommendation from a neutral.

By Michael BellusciSep 14, 2022

Videos

Mining Pool Poolin Will Issue 'IOU' Tokens After Withdrawal Freeze

Poolin Wallet, the wallet service of one of the largest bitcoin (BTC) mining pools, has announced it will issue IOU (I Owe You) tokens to customers impacted by frozen withdrawals last week. "The Hash" panel discusses what this means for the mining community.

Sep 13, 2022

Finance

Crypto Tech Firm BlockFills to Offer ESG Credits to Miners

The firm said it is working with Isla Verda Capital to sell carbon offsets to miners who get their power from renewable energy sources.

By Eliza GkritsiSep 13, 2022

Videos

White House Releases Report on Crypto Mining, Drawing Praise From Advocates and Critics

The Biden administration’s new findings on bitcoin (BTC) mining’s environmental impact united industry advocates and critics; Both sides declared their views had support from the highest levels of the U.S. government. “The Hash” panel discusses what this means for the future of the mining industry and whether the optimism stays.

Sep 12, 2022

Policy

White House Crypto Mining Report Draws Praise From Advocates and Critics Alike

The report called on standards to limit the industry’s environmental footprint, or else limit the industry itself.

By Eliza GkritsiSep 12, 2022

The White House's report on crypto mining and its environmental impact drew praise from both industry advocates and critics alike. (Ana Lanza/Unsplash)

Videos

Fed’s Waller Sees Another ‘Significant’ Rate Hike This Month; SEC Enforcement Chief: We Can’t Ignore Crypto Law-Breaking

Federal Reserve Governor Christopher Waller said Friday he expects a big interest rate increase later this month. Gurbir Grewal, director of enforcement at the U.S. Securities and Exchange Commission, said his agency can’t look the other way as the crypto industry violates securities laws.

Sep 9, 2022

Finance