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
A country where Bitcoin once looked primed to flourish is now attempting to scapegoat the cryptocurrency.
Amid blackouts and police raids, Iran weighs benefits of Bitcoin mining
Andrew Thurman
2021-01-23T16:01:31+00:00
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News
Bitcoin miners are scrambling to acquire more mining rigs as the global semiconductor shortage worsens.
Bitcoin miners facing chip shortage amid skyrocketing demand
Osato Avan-Nomayo
2021-01-22T13:27:35+00:00
11433
News
Investors are suing a Bitcoin mining company for allegedly fabricating the existence of BTC mining farms in China and reportedly misleading the public.
Alleged ‘ghost’ Bitcoin mining firm traded on Nasdaq faces class-action lawsuit
Greg Thomson
2021-01-22T13:20:58+00:00
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News
Over 300 blocks were rolled back in the course of the 51% attack.
Privacy-focused Firo cryptocurrency suffers 51% attack
Osato Avan-Nomayo
2021-01-20T10:22:10+00:00
8809
News
Bitcoiners have been using the excess heat produced by their mining rigs to stay warm this season.
Crypto winter: Bitcoiners use mining rigs as heaters as temperatures drop
Turner Wright
2021-01-20T00:05:58+00:00
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Opinion
By embracing crypto mining activities in the region, Pakistan and Iran may give other nations in the Middle East an example to follow.
Why Pakistan and the Middle East can bet on crypto mining
Muhammad Abdullah
2021-01-19T07:27:00+00:00
18571
Markets News
Cold hard numbers are showing why Bitcoin moons and dumps — and the reasons are more straightforward than you might imagine.
Bitcoin thermocap metric shows BTC price is still in the 'low end' of bull cycle
William Suberg
2021-01-18T13:30:00+00:00
32592
News
Nvidia's chief financial officer says the firm could restart its mining-specific line of graphics cards if demand from cryptocurrency miners increases.
Gamers are still Nvidia’s masters, but Ether miners could change that
Greg Thomson
2021-01-15T13:22:19+00:00
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