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
But there is always a catch when it comes to Maduro’s government.
Crypto mining activities are now regulated by the Venezuelan gov
Felipe Erazo
2020-09-23T21:15:00+01:00
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Just don’t use work resources for personal gain.
Former government contractor avoids jail for mining crypto at work
Emilia David
2020-09-20T15:47:00+01:00
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That may not necessarily be a good thing for the struggling state.
Abkhazia to lift ban on crypto mining
Felipe Erazo
2020-09-18T21:02:00+01:00
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Nvidia is trying not to hand over internal documents to plaintiffs who allege that the GPU manufacturer misrepresented its financials during the 2017 bull run.
Nvidia doesn't want to give up its 2017 'crypto craze' docs
Samuel Haig
2020-09-18T11:14:00+01:00
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It is already illegal to mine crypto within the de facto state.
Abkhazia government blames illegal crypto mining for energy crisis
Felipe Erazo
2020-09-18T09:36:00+01:00
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North America now has its own Bitmain repair center.
This crypto mining operator was named Bitmain’s sole North American cooperative repair center
Felipe Erazo
2020-09-17T16:09:00+01:00
8057
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It seems that the private sector is not satisfied with the country’s local fiat money.
Iran’s crypto mines could be used to help fund car imports
Felipe Erazo
2020-09-14T19:15:00+01:00
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Miners in Russia are purportedly buying more equipment amid regulatory uncertainty.
Crypto mining and remote work drive GPU sales boom in Russia
Helen Partz
2020-09-14T14:29:13+01:00
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