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

Fort Worth to Become First US City to Mine Bitcoin

The Texas city will begin a pilot project with three Antminer S9 mining rigs following a vote by the city council on Tuesday.

By Aoyon AshrafApr 26, 2022

Fort Worth Mayor Mattie Parker (left) and TBC President Lee Bratcher (Fort Worth)

Finance

Scaramucci’s SkyBridge Starts Fund for Bitcoin Mining

The fund has $7 million already booked and was created for a second investment in bitcoin miner Genesis Digital, a source said.

By Aoyon AshrafApr 22, 2022

SkyBridge founder Anthony Scaramucci (Cole Burston/Bloomberg via Getty Images)

Finance

Kevin O'Leary on Clean Bitcoin Mining, the Elon Musk-Twitter Conundrum

The future of the crypto mining industry is likely nuclear and hydro, the “Shark Tank” co-host said on CoinDesk TV’s “First Mover.”

By Fran VelasquezApr 22, 2022

Finance

BitNile to Lend Up to $100M to Small Businesses Backed by Bitcoin

Loans will range from $1 million to $25 million and be offered to publicly traded companies with less than $250 million in market capitalization.

By Aoyon AshrafApr 22, 2022

Finance

Flared-Gas Bitcoin Miner Crusoe Energy Raises $350M Series C

The company is also bringing on additional credit facilities of up to $155 million.

By Aoyon AshrafApr 21, 2022

Crusoe Energy President Cully Cavness (left) and CEO Chase Lochmiller (right) (Crusoe)

Finance

Bitcoin Miner Bit Digital Files to Raise Up to $500M in Equity

The proceeds will be used for capital expenditures, buying new mining equipment and other potential acquisitions.

By Aoyon AshrafApr 20, 2022

Finance

Core Scientific Begins Reporting Daily Bitcoin Mining Production

The figure will be updated every day at 12:00 p.m. EST (16:00 UTC) on the mining company's home page in a bid to improve transparency.

By Eliza GkritsiApr 18, 2022

Darin Feinstein, co-founder of Core Scientific, speaks during the Bitcoin 2022 conference in Miami, Florida, U.S., on Friday, April 8, 2022. The Bitcoin 2022 four-day conference is touted by organizers as "the biggest Bitcoin event in the world." Photographer: Eva Marie Uzcategui/Bloomberg via Getty Images

Markets

Market Wrap: Cryptos Mixed Amid NFT Slowdown, Meme Coins Surge

During a shortened week in traditional markets, with U.S. stock exchanges closed on Friday, bitcoin struggled for direction, hovering around $40K, while DOGE and SHIB experienced wild swings.

By Damanick Dantes, Angelique ChenApr 15, 2022