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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.
New York Power Plant Sells 30% of Its Bitcoin Mining Hashrate to Institutional Buyers
Greenidge Generation, an upstate New York power plant that's using proprietary facility to mine bitcoin, has sold up to 30 percent of its computing power to institutional buyers.
Bitcoin Miner Maker Canaan Lost $148M in 2019
The Chinese bitcoin miner manufacturer has disclosed it made a net loss of $148.6 million for 2019 on a revenue of $204.3 million.
Bitcoin Cash Undergoes 'Halving' Event, Casting Shadow on Miner Profitability
Bitcoin Cash, the blockchain network that forked off Bitcoin in 2017, has just reduced its mining rewards by half, causing lots of miners to have nearly zero gross margin.
New Software Fix Offers Bitcoin Miners Increased Security
Startup Braiins has released the first functioning code for a new protocol designed to fix longstanding security problems with bitcoin mining pools.
Manufacturers Mark Down Bitcoin Miners as Price Drop, Halving Change Calculus
Last month’s bitcoin price crash has prompted manufacturers to sell their mining devices at discounts as steep as 20 percent ahead of the May halving.
Binance Crypto Exchange Is Launching Its First Bitcoin Mining Pool
Binance has been offering "generous" referral bonuses for its new crypto mining pool.
HIVE Blockchain to Double Bitcoin Mining Capacity Through $2.8M Share Deal
HIVE shares have increased 10 percent since the deal to acquire a bitcoin mining farm in Canada became public.
How Bitcoin’s Price Slump Is Changing the Geography of Mining
Although China remains the leading region for bitcoin mining, the coronavirus downturn is changing the picture in other geographies.
Can Bitcoin Survive the Climate Change Revolution?
If ESG is becoming the new buzzword among impact-minded financial institutions, where does energy-intensive bitcoin fit in?
Miners Are Selling More Bitcoin Than They Are Mining
While bitcoin looks set to prolong its recent bullish moves, those responsible for making new bitcoin have increased their selling.
