Receive all Cointelegraph news immediately in Telegram.
Bitcoin mining is the process by which new bitcoins are created and transactions are sent across the network. Both the people who engage in it and the devices that are used for mining are called "miners". In the process of mining, the miners' computers perform the so-called "hashing", producing proof-of-work - they take a series of randomly generated input data strings and apply a specific cryptographic function to it (SHA-256 in Bitcoin's case). The result of each calculation will always be the same "hash", unique to any particular input, but its exact value cannot be predicted until the actual calculation is performed. The network has an overall "target" value, and as soon as any miner gets a hash which is equal to or lower than the target, they get to register all the transactions which took place on the network since the last "hit", package them into a block, add it to the end of the Blockchain, and credit a specific amount of bitcoins to their own account (these bitcoins are created "out of nothing" to reward the miner for the time and electricity they spent on cracking hashes). Initially, any person could use their PC to download a Bitcoin client and start mining bitcoins. They still can, but by now it is economically infeasible, as the mining industry is dominated by ASICs - highly efficient machines developed specifically for the purpose of mining Bitcoin.
Security firm RedLock reveals Tesla cryptojack, attackers using non-password protected software container to mine crypto.
The FCC has officially warned Brooklyn resident Victor Rosario about the “harmful interference” of his BTC miner on T-Mobile’s broadband network.
Analysts are concerned that Bitcoin and cryptocurrency mining centers are spending too much electricity, but it is a non-issue.
Owing to its cool climate and cheap energy, cryptocurrency mining companies are flocking to Iceland, says business development manager of a local energy company...
Several Russian Federal Nuclear Center engineers were arrested after trying to use a supercomputer to mine Bitcoin in an ex-Soviet facility.
New York State has de facto given the go-ahead for Bitcoin mining operations to start in an abandoned smokestack in the town of Massena.
Mining a single Bitcoin has its costs, but those costs in terms of electricity vary greatly in different countries.
Italy-based Enel, one of the largest power utility companies in Europe, has reported that it will not be selling renewable energy to off-grid mining company Env...
Canada’s electricity provider Hydro Quebec may have to turn down cryptocurrency miners looking to setup operations in the province.
Two Russian power stations will be transformed into cryptocurrency mining operations, according to local media reports.
80% of the total supply of Bitcoin has now been mined, driving up the difficulty and cost of mining.
Crypto mining is stretching the limits of the electric infrastructure of a small county in Washington state
Chinese Bitcoin miners could withstand a massive Bitcoin price correction due to the margin being made from cheap power costs.
Graphics card manufacturer Nvidia is expected to have a bumper year, having launched their latest Titav V GPU powered by the new Volta architecture.
China’s staunch stance on cryptocurrency could affect miners in the country once again, as power restrictions could be enforced.
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: