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.

Podcasts

Is Miner Selling Contributing to Bitcoin's Price Troubles?

By Nathaniel WhittemoreJun 22, 2022

Videos

Why Miners are Dumping Their Bitcoin Holdings

A new report by Arcane Research reveals the continued decline in crypto mining profitability has forced miners to start dumping their bitcoin (BTC) holdings. "The Hash" squad discusses the latest on the state of bitcoin mining and what it could potentially portend for market prices.

Jun 22, 2022

Finance

Bit Digital Production Slump Continued Into Q1, Strikes Deals With Coinmint, Riot to Increase Hashrate

The bitcoin miner has struggled to recover its hashrate since moving its operations out of China.

By Eliza GkritsiJun 22, 2022

Blockfusion's mining facility in Niagara Falls, New York, that hosts Bit Digital's mining rigs. (Eliza Gkritsi/CoinDesk)

Finance

Iris Energy Raises 2022 Hashrate Estimate to 4.3 EH/s

The construction of the bitcoin miner's Texas site may be delayed as the firm removed completion estimate.

By Eliza GkritsiJun 22, 2022

Bitcoin mining ASICs submerged in immersion cooling liquid at a facility in South Spain. (Eliza Gkritsi)

Finance

Black Hills Signs Deal to Power Bitcoin Mining in Wyoming

The publicly traded utility will deliver up to 75 megawatts of power to a new mining operation in Cheyenne.

By Cheyenne LigonJun 21, 2022

Finance

Miner Bitfarms Sold Almost Half Its Bitcoin to Reduce Debt

The miner sold 3,000 BTC in the past week to improve liquidity and reduce indebtedness.

By Eliza GkritsiJun 21, 2022

A Bitfarms employee inspecting miners at Cowansville, Quebec, Canada. (Aoyon Ashraf/CoinDesk)

Finance

Bitfarms Looks to Boost Liquidity With Sale of 1,500 Bitcoin, New Loan

The miner paid down a credit line from Galaxy Digital while inking new equipment financing from NYDIG.

By Aoyon AshrafJun 17, 2022

Videos

Web3 Texas Founder on Importance of Blockchain Education

The founder of Web3 Texas is on a mission to make Web3 accessible to all, through educational and social events around Dallas. Nic J. joins “Community Crypto” to discuss the importance of why this new iteration of the internet is important.

Jun 16, 2022

Videos

Could Texas Become the Next Bitcoin Mining Hub?

Fort Worth, Texas is the first U.S. city to mine bitcoin. Web3 Texas Founder Nic J. discusses what this means for the state and also addresses the bitcoin energy debate.

Jun 16, 2022

Videos