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
Tech companies like Oracle, Tesla, Hewlett Packard, and now Blockcap are moving to Austin, causing many to call the state capital the Silicon Hills.
Bitcoin mining company follows Tesla by setting up shop in Austin
Turner Wright
2021-04-11T18:25:37+01:00
11691
Analysis
The impact of BTC mining on the environment has turned into a debate — here’s what academics think and if “green Bitcoin” is possible.
All that mined is not green: Bitcoin’s carbon footprint hard to estimate
Gareth Jenkinson
2021-04-10T14:37:00+01:00
22231
News
A Nasdaq-traded Chinese Bitcoin mining firm has seen its shares fall 20% after a damning short report unveiled some alleged dodgy dealings.
Ebang refutes Bitcoin ‘China Hustle’ claims as share price falls 20%
Greg Thomson
2021-04-09T10:40:01+01:00
11942
News
The chief marketing officer a blockchain security company has been charged with embezzlement; Peter Thiel calls Bitcoin a ‘weapon’ of China (but no one cares); ...
Our Man in Shanghai: Scandal as $45M of stolen government funds allegedly lost on 100x leverage
Ben Yorke
2021-04-09T04:48:55+01:00
6434
News
The $650 million deal sees Riot Blockchain acquiring a major data center owned by Northern Data AG, one of its competitors.
Riot Blockchain is set to acquire a Texas data facility for $650M
Osato Avan-Nomayo
2021-04-08T17:45:00+01:00
6138
News
Miners are back in accumulation mode, with 5,000 BTC added to Bitcoin’s unspent supply since the start of February.
Miners are hoarding Bitcoin from record daily earnings
Samuel Haig
2021-04-08T04:50:42+01:00
9499
News
The $138.5 million deal will add an estimated 3.7 EH/s to Riot’s existing and planned mining capacity.
Riot Blockchain purchases 42,000 Antminers from Bitmain
Sam Bourgi
2021-04-07T17:42:52+01:00
6859
News
U.K.-based Argo Blockchain just did record revenues, but a new report suggests 75% of Bitcoin mining still takes place in China, where “blood coin” is made.
UK Bitcoin mining revenues soar, but China hogs 75% of ‘blood coin’ production
Greg Thomson
2021-04-07T09:23:45+01:00
8701

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