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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.
Crypto Stocks Post Large Losses as Bitcoin Price Slides Toward $28K
Bitcoin miners were the hardest hit on Thursday.
Intel Ending Production of its Bitcoin Mining Chip Series
Chipmaking heavyweight Intel (INTC) is ending production of its bitcoin mining chip series, the company said in a statement to CoinDesk on Tuesday. "The Hash" panel discusses the latest blow to the bitcoin mining community and the broader implications for the tech industry.
Valuations and M&A Show Things Aren’t So Bad for Crypto
Two aspects of the crypto world, blockchain tech companies and exchanges and crypto miners, reveal that M&A activity is strong and that crypto-related companies have converged with the rest of tech, a sign that the digital-asset industry is maturing.
Bitcoin Miner Mawson to Sell Texas Sites for $8.5M to Singapore Fund Manager
The funds will go toward reducing Mawson's debt and fueling growth.
Intel Discontinues Bitcoin Mining Chip Series
The production of the so-called Blockscale chips was announced about a year ago.
Gridless Bringing Bitcoin Mining to Rural Africa
As part of CoinDesk's Projects to Watch 2023, "The Hash" panel highlights the significance of bitcoin mining firm Gridless extending power to rural Africa.
NovaWulf Plans to Tokenize Equity of Celsius’ New Firm With $2B Assets, After Takeover
Celsius Network contacted 130 interested parties and signed confidentiality agreements with 40, before choosing NovaWulf.
Sweden Drives Final Nail Into Its Bitcoin Mining Industry With Tax Hike
The 6,000% increase in taxes per kilowatt hour of energy may "ultimately destroy the industry" in the country.
Bitcoin Miner Bitdeer Stock Slumps Nearly 30% at Trading Debut
The Singapore firm is one of the largest bitcoin miners in the world, with 16.2 EH/s of hashrate.
The Bitcoin Mining Energy Debate
CoinDesk's Chief Insights Columnist David Z. Morris joins "All About Bitcoin" and shares his reaction to The New York Times report on the energy cost of bitcoin mining. Plus, Morris takes a deeper dive into how the Texas power grid works regarding backup electricity.