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. 

Millions of dollars worth of electrical equipment will be transferred to the crypto miners' exclusive energy negotiator to settle a payments dispute.
Core Scientific to transfer $20M of equipment to settle bankruptcy dispute
Jesse Coghlan
Join us as we discuss whether cryptocurrency mining is still worth it in 2023 and all the latest updates regarding the mining industry.
Crypto mining in 2023 — Is it still worth it? Watch Market Talks
Adrian J. Permal
The Bitcoin mining company is stumped as to why Bitmain changed the design of the S19 Antminers.
‘Bad batch’ or flawed design? Compass Mining flags problems with new ASIC miners
Brayden Lindrea
The tax would be phased-in at 10% per year over three years and covers electricity generated from both on and off-grid sources.
Biden budget proposes 30% tax on crypto mining electricity usage
Jesse Coghlan
Trezor plans to build its hardware wallet chips, but other crypto companies still prefer third-party imports due to technical and financial barriers.
Trezor crypto wallet’s move into the semiconductor business isn’t for everyone
Prashant Jha
The decision to end its loan facilities with Silvergate Bank follows a shift in Marathon’s long-term financial strategy to build liquidity.
Marathon Digital terminates credit facilities with Silvergate Bank
Luke Huigsloot
Block’s mining hardware product lead, Naoise Irwin, has asked for pointers on a proposed hardware and software development kit for Bitcoin mining.
Jack Dorsey’s Block asks for input on proposed ‘mining development kit’
Martin Young
Bitcoin mining company TeraWulf has fired up a new “behind the meter” mining facility powered by 100% nuclear power in Pennsylvania.
TeraWulf goes nuclear: 8,000 rigs spool up in Nautilus mining facility
Stephen Katte

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