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

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

Finance

Bitfarms and Marathon Digital Both Mined Over 3K BTC in 2021

The two publicly traded miners also held onto almost all the bitcoin they mined.

By Nelson WangJan 3, 2022

A technician monitors cryptocurrency mining rigs at a Bitfarms facility in Saint-Hyacinthe, Quebec.

Videos

Marathon Digital CEO on 2022 BTC Mining Industry Outlook: 'Global Hashrate to Increase by 100%'

Fred Thiel, CEO of Marathon Digital Holdings, one of the largest bitcoin mining companies in North America, discusses the latest on the bitcoin mining industry and his outlook for 2022. Plus, insights into mining profitability and Marathon Digital's business operations.

Dec 27, 2021

Opinion

10 2022 Predictions From PwC’s Henri Arslanian

El Salvador. The metaverse. Web 3 catalysts. Ethereum’s future.

By Henri ArslanianDec 24, 2021

Finance

Bitcoin Mining Profitability Starts Falling After Stellar Year: Research

The end of 2021′s crypto mining gold rush may have just started.

By Eliza GkritsiDec 22, 2021

A bitcoin mining farm. (Marko Ahtisaari/Flickr)

Finance

Power Management Firm Lancium Signs $2.4B Data Center Development Deal

The construction of the data center, which will focus on bitcoin mining and other energy-intensive applications, will start in the first quarter of 2022.

By Aoyon AshrafDec 21, 2021