Explained
Russian miners packed 95 crypto rigs into a KamAZ truck. The scam is now busted, but the case reveals how mobile farms exploit weak energy enforcement in remote areas.
Mining News
Mining is the process of adding and validating transaction records on the Bitcoin public blockchain ledger while securing uptime for the network. This is how the network persists without relying on trusted third parties using vulnerable, centralized infrastructure. Mining is also used to distinguish legitimate Bitcoin (BTC) transactions from attempts at double-spending, which is when a user attempts to re-spend money that has already been spent somewhere else.
What miners are actually doing is continually guessing for a specific number (the nonce) designated in the header of the following block, which has a predetermined number of zero bits. When they guess the correct number after using extensive computation power, they solve the proof-of-work and are rewarded with the protocol currency, BTC. This simultaneously serves as the minting process for Bitcoin.
Bitcoin mining has come a long way since the network’s launch in 2009. In the early days, mining was how one would participate within the Bitcoin economy, using relatively modest computation resources such as an average consumer-grade laptop to allocate hashing power to solving the proof-of-work algorithm and earn Bitcoin from the block subsidy, all while securing the network.
Since then, mining has become a multibillion-dollar global industry, with massive operations and facilities around the world using incredible amounts of resources to compete for the block rewards of many different cryptocurrencies, all the while providing critical infrastructure and security to these networks.
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Bit Digital’s stock plummeted after announcing a $150 million share sale and a transition from Bitcoin mining to Ethereum staking.
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Mounting macroeconomic risks, declining Bitcoin miner revenues, and cautious sentiment among investors could trigger a sharp BTC price correction.
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CoreWeave’s previous takeover bid for Bitcoin miner Core Scientific was rejected for being too low.
20504 - Market Analysis
Bitcoin bulls appear poised to win the upcoming $20 billion options expiry, raising the chances for a rally to $110,000.
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In what looks to be the most dramatic decline in three years, Bitcoin’s hashrate dropped over 15% between June 15 and Tuesday.
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Panther Metals is planning a $5.4 million Bitcoin treasury and will use it as collateral to buy a mineral mining deposit in Canada and other commodities in the future.
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Bitcoin ASIC maker Canaan has launched pilot production in the US and dropped its AI chip business, signaling a strategic pivot to core crypto operations.
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A temporary ban could be imposed as early as autumn based on an investigation into crypto miners’ energy consumption.
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Against 1 in 3,000 odds, a solo miner used a short burst of rented hash power to win a $330,000 Bitcoin block, proving that strategy can still beat scale in today’s mining landscape.
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Russia will continue taking measures to encourage crypto mining businesses to register with the tax authority, including imposing bigger penalties for violations.
2932 - News
Ohio’s House passed a bill to legally insulate various crypto activities, such as mining and staking, and exempt some transactions from capital gains tax.
6278 - News
Bitmain, Canaan and MicroBT — producing over 99% of global Bitcoin mining ASICs — are launching US-based production units in response to tariffs.
26820 - How to
Discover how to mine Bitcoin at home in 2025 using the latest ASIC hardware, optimized mining software, low-cost electricity setups and secure wallets to maximize efficiency and profitability.
319674 - News
The median cost of mining a single Bitcoin was only $52,000 in Q4, but jumped 23% in the first quarter and has risen again in Q2.
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