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
Among the proposals, the group of eight organizations requested the Environmental Protection Agency subject PoW mining firms to “stringent reviews” around opera...
Environmental groups urge US government to take action on crypto miners
Turner Wright
2022-05-10T22:11:34+01:00
2426
Analysis
Bitcoin mining companies must prove carbon neutrality as new regulations come to play, but are carbon offsets enough?
Go green or die? Bitcoin miners aim for carbon neutrality by mining near data centers
Rachel Wolfson
2022-05-10T15:32:00+01:00
5234
Research
Mining firm Core Scientific’s hash rate leads all public companies with 8.3 EH/s, and it mined 5,769 BTC in 2021.
Controlling 17% of BTC hash rate: Report on publicly listed mining firms
Cointelegraph Research
2022-05-06T16:47:00+01:00
7941
News
"All issuers, including those that pursue opportunities involving emerging technology, must ensure that their disclosures are timely, complete and accurate," sa...
Nvidia to pay $5.5M as part of SEC case concerning 'inadequate disclosures' around crypto mining
Turner Wright
2022-05-06T16:14:46+01:00
1759
News
The company expects a hash rate of 5.5 EH/s by the end of 2022, anticipating that access to an additional 600 MW of power capacity "in the coming years" will pr...
Argo Blockchain facility in West Texas expects to start mining Bitcoin in May
Turner Wright
2022-05-05T16:36:53+01:00
2845
News
Cryptocurrency mining companies will be required to submit comprehensive information about their operations as the country tries to reign in electricity consump...
Kazakhstan ramps up power consumption reporting requirements for crypto miners
Jesse Coghlan
2022-05-05T02:02:44+01:00
2563
Newsletter
The New York State moratorium on PoW mining reinvigorates the conversation around the crypto industry's sustainability.
Law Decoded: The difference between New York City and New York State, April 25-May 2
David Attlee
2022-05-02T20:23:00+01:00
1578
Analysis
A new Senate bill strives to keep the “spirit of blockchain” while combating crime, but critics call it ill-conceived, redundant and unworkable.
Has New York state gone astray in its pursuit of crypto fraud?
Andrew Singer
2022-05-02T16:01:00+01:00
1720

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