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.

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7 Wild Bitcoin Mining Rigs

Here are some of the innovative and sometimes hilarious functions bitcoin miners have found for their rigs.

By Jeff WilserMar 24, 2022

MintGreen heating whisky using bitcoin mining rigs (MintGreen)

Opinion

Why the Bitcoin Mining Debate Is So Dysfunctional

Specialization is necessary, but bitcoiners and miners need to learn to listen to each other, says Will Foxley, director of content at Compass Mining.

By William FoxleyMar 24, 2022

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Why Crypto Mining Actually Matters

Ideological arguments over proof-of-work and proof-of-stake miss the larger point: Mining means the production of objective truth, says futurist Dan Jeffries. This post is part of CoinDesk's Mining Week.

By Dan JeffriesMar 24, 2022

A crypto mining farm (Sandali Handagama/CoinDesk)

Finance

Mining Industry Not That Worried by SEC’s Proposed New Climate Reporting Rules

Some of the requirements might be challenging for smaller publicly-traded miners to comply with, however.

By Aoyon AshrafMar 23, 2022

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The State of Bitcoin and Ethereum Mining in 10 Charts

It's been a rollercoaster year for Bitcoin and Ethereum mining: Here is what the data shows.

By George Kaloudis, Sage D. YoungMar 23, 2022

(CoinDesk Research, Cambridge Centre for Alternative Finance)

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Why Some Bitcoin Devs Say Lasers Can Cut Mining’s Energy Costs

“Optical proof-of-work” would improve geographic distribution of hashrate and quell fears of climate-related pushback, proponents argue.

By George KaloudisMar 22, 2022

Lasers have shown promise in making computation more efficient. Plus, optical computation would fit the “laser eyes” meme popular among bitcoiners. (Illustration: Yunha Lee)

Finance

Pipe Introduces Alternative Financing Product for Bitcoin Miners

The trading platform worked with Compass Mining for several months before launching the product.

By Aoyon AshrafMar 22, 2022

Finance

Mawson's Q4 Revenue Rises 79% From Q3

The bitcoin miner boosts its hashrate estimate for next year by 10%.

By Aoyon AshrafMar 21, 2022

Consensus Magazine

Don’t Call It a Comeback: The Unlikely Rise of Home Bitcoin Mining

Even with the surge in popularity, home bitcoin mining only accounts for a small slice of the industry’s overall pie.

By Jeff WilserMar 21, 2022

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Will Belarus Lure Crypto Miners Amid Sanctions, Russia-Ukraine War?

Despite favorable business conditions, a country’s political environment can deter international capital. This piece is part of CoinDesk's Mining Week

By Eliza GkritsiMar 21, 2022