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
The Venezuelan army turns to crypto mining as the country's economy collapses.
Venezuelan army starts mining Bitcoin to make ends meet
Ezio Rojas
2020-11-30T19:55:54+00:00
743
News
The third quarter was tough for mining rig manufacturers as the impact of COVID-19 continued to weigh heavily on the space.
This Bitcoin mining company’s stock is in free fall following Q3 loss
Sam Bourgi
2020-11-30T19:00:00+00:00
2114
News
AirBit Club's leadership has been gathered in New York City and will face charges for stealing "membership dues" to finance massive marketing events and lavish ...
Justice Department extradites alleged BTC mining Ponzi operator from Panama
Kollen Post
2020-11-30T16:48:14+00:00
4662
News
Mining difficulty on the network rose by 8.9% today while the hash rate is more than 130 EH/s.
Bitcoin mining difficulty approaches ATH as price stabilizes above $18K
Turner Wright
2020-11-30T00:00:05+00:00
30868
News
Four gigabyte devices will soon be able to find a new home on ETC.
Ethereum Classic plans ‘Thanos’ hard fork to restore mining with older GPUs
Andrey Shevchenko
2020-11-27T13:39:37+00:00
21306
News
Bitcoin's bull market is having a dramatic effect on demand for hardware resources as miners look to ramp up production.
Democratizing Bitcoin's hash rate takes center stage at mining summit
Sam Bourgi
2020-11-24T17:06:18+00:00
11923
News
The Bitcoin mining giant appoints a new director with a stellar institutional background as stock prices surge.
With share price outpacing Bitcoin, Riot Blockchain appoints new director
Andrew Thurman
2020-11-21T19:17:28+00:00
28071
Analysis
Where can you mine Bitcoin and Ether in 2020? Here are the top tips about mining pools and what you need to know before joining one of them.
Jumping into the pool: How to earn a profit mining Bitcoin and Ether
Elena Perez
2020-11-21T13:47:00+00:00
23249

Follow us on Facebook