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. 

News
Jack Dorsey wants to build a single system that can improve accessibility to Bitcoin mining and further decentralize the BTC network.
Jack Dorsey’s Square plans to build an open-source Bitcoin mining system
Arijit Sarkar
2021-10-16T09:05:00+01:00
13762
News
The recovered energy will be used to heat 100 residential and commercial buildings in North Vancouver, with a population of roughly 155,000.
Canadian city plans to supply residents’ heat using Bitcoin mining
Turner Wright
2021-10-14T21:20:00+01:00
10425
News
Russia’s Irkutsk region saw its energy consumption rates surge by 160% following China’s crackdown on crypto mining.
Russia considers new energy tariffs as Chinese crypto miners relocate
Helen Partz
2021-10-14T11:34:15+01:00
4995
News
The firm uses a sustainable energy source by converting waste coal into power to mine Bitcoin.
Bitcoin miner Stronghold will list almost 6M shares in its $100M IPO
Martin Young
2021-10-14T03:31:52+01:00
8559
Market Analysis
$820 million in BTC options expire on Oct. 15, and data signals that bulls are set to celebrate another positive week.
Bitcoin bulls target prices above $58K ahead of Friday’s $820M options expiry
Marcel Pechman
2021-10-13T23:30:00+01:00
13371
News
The American Bitcoin mining outfit plans to acquire a total of 28,000 to 56,000 next-generation mining rigs.
Cipher Mining splashes $350M on next-gen Bitcoin mining rigs from Bitfury
Osato Avan-Nomayo
2021-10-13T18:40:00+01:00
5158
News
The U.S. now accounts for more than a third of the total Bitcoin mining activity, with Kazakhstan and Russia also becoming major locations.
US dominates global Bitcoin hash rate distribution after China crackdown
Osato Avan-Nomayo
2021-10-13T12:09:25+01:00
6722
Analysis
China's regulatory policies toward crypto used to be a major factor in market activity.
China’s crypto ban: Buy the dip or cause for concern?
Francisco Rodrigues
2021-10-12T14:07:00+01:00
6995

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