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 Rhodium’s Planned IPO Values It at Up to $1.7B

The miner priced its upcoming initial public offering at $12-$14 per share.

By Aoyon AshrafJan 13, 2022

Bitcoin Mining's Energy Consumption Debate

Finance

Iris Energy’s December Hashrate Rises 14% as Revenue Falls Again

The Australian miner continues to build out mining capacity in Canada.

By Eliza GkritsiJan 11, 2022

A bitcoin mining farm. (Marko Ahtisaari/Flickr)

Finance

Luxor Launches New Business for Buying and Selling Bitcoin Mining Machines

The company aims to simplify the procurement process for high-performance ASIC mining computers for both institutional and retail customers.

By Aoyon AshrafJan 11, 2022

Bitcoin mining machines in a former steel mill in the midwest.

Finance

Hive Blockchain Held Onto All the Bitcoin It Mined in 2021, While Selling Some Ether

The Canadian miner’s bitcoin production rose 12% in December from November, while its ether output fell by about 7%.

By Aoyon AshrafJan 10, 2022

Tech

Major Mining Pools’ Bitcoin Hashrate Nears Recovery as Kazakhstan’s Internet Is Partially Restored

The world’s second-biggest mining country has been engulfed in civil unrest over the past week.

By Eliza GkritsiJan 10, 2022

Podcasts

Internet Shut Down, Bitcoin Mining Offline as Kazakhstan’s Political Crisis Escalates

By Nathaniel WhittemoreJan 7, 2022

Videos

CoinDesk Releases Annual Report Highlighting Key Trends in Crypto

CoinDesk Research Associate George Kaloudis joins the “First Mover” panel to discuss the 2021 CoinDesk Annual Report. Topics include the decline of bitcoin dominance, Ethereum gas fees triggering the rise of scaling-focused altcoins like Polygon and Solana, and how El Salvador’s legalization of bitcoin impacted the crypto market. Plus, a look into the future of bitcoin mining as Kazakhstan, the country that became second only to the US in bitcoin mining hashrate, is suffering the worst protests in 30 years and internet blackouts.

Jan 6, 2022

Videos

US Congress Organizing Hearing on Crypto Mining

CoinDesk Managing Editor for Global Policy and Regulation Nikhilesh De shares his insights on an upcoming Congressional hearing that will examine the environmental impact of crypto mining, especially on the bitcoin network. The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is currently drawing up a list of witnesses while the date still has yet to be set.

Jan 6, 2022

Policy

US Congress to Hold Oversight Hearing on Crypto Mining: Report

Lawmakers will look at mining’s effect on the environment.

By Eliza GkritsiJan 6, 2022

The U.S. Capitol in Washington D.C. (Darren Halstead/Unsplash)

Podcasts

A Massive $879.6M Bitcoin Mining Machine Buy Kicks Off the Year of US Bitcoin Mining

By Nathaniel WhittemoreJan 4, 2022