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
Since July 2022, the Bitcoin ecosystem recovered across numerous determinants, including miners’ revenue in USD, network difficulty and hash rate.
Bitcoin mining revenue jumps 68.6% from the lowest-earning day of 2022
Arijit Sarkar
2022-08-13T06:54:58+01:00
6484
News
While Bitcoin and Ether prices may have climbed lately, Bitcoin mining companies have been absolutely pumping.
BTC mining stocks double in a month as production ramps
Brayden Lindrea
2022-08-12T05:23:24+01:00
5585
News
Ethereum’s transition to proof-of-stake is inching ever closer after developers agreed to a tentative date for the mainnet Merge.
Coming sooner: ETH devs move up the date for Merge
Brian Newar
2022-08-12T03:43:44+01:00
16830
Market Analysis
A slew of Ether’s technical and fundamental indicators support a push toward $2,500 by September.
3 signs Ethereum price is on track toward $2.5K by September
Yashu Gola
2022-08-11T08:01:31+01:00
12762
Analysis
Blockchain technology is on its way to being considered by organizations as a way to reduce carbon emissions and improve the environment.
Blockchain’s environmental impact and how it can be used for carbon removal
Anthony Clarke
2022-08-10T14:08:00+01:00
1409
News
The response comes after researchers in Israel alleged the mining pool has been manipulating Ethereum block timestamps to obtain higher mining rewards.
F2Pool co-founder responds to allegations it's cheating the Ethereum POW system
Brayden Lindrea
2022-08-09T03:43:24+01:00
4451
News
Other Bitcoin miners such as Core Scientific, Argo Blockchain and Riot Blockchain have reduced their BTC holdings during the bear market.
Amid miner capitulation, Hut 8 maintained BTC ‘HODL strategy’ in July
Sam Bourgi
2022-08-06T20:34:24+01:00
6769
Interview
Phil Harvey said that this type of miner can typically last a minimum of 36 months in a facility operated by their crypto firm Sabre56.
Antminer S19 XP dropped in a bid to swing crypto miners back into profit
Ezra Reguerra
2022-08-05T16:00:00+01:00
4044

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