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. 

The Neuralink device is designed to be surgically implanted and, according to CEO Elon Musk, will eventually be marketed to the general public.
Neuralink gets FDA approval for ‘in-human’ trials of its brain-computer interface
Tristan Greene
Quantum computers cannot mine Bitcoin faster than classical computers, but they have the potential to do so in the future.
Can quantum computers mine Bitcoin faster?
Onkar Singh
In an exclusive interview with Cointelegraph at the Bitcoin Conference, Marathon Digital CEO Fred Thiel spoke about the mining company’s response to the bear ma...
Bitcoin production growth and capital strategy guiding Marathon Digital — CEO
Ana Paula Pereira
Crypto mining firm Riot Platforms is seeking to terminate “certain hosting agreements” with Rhodium Enterprises and be relieved of refunding any outstanding pow...
BTC miner Rhodium faces lawsuit over alleged $26M in unpaid fees: Report
Ciaran Lyons
The mining firm expects the two facilities to be online by 2024 and produce a combined hash rate of roughly 7 EH/s.
Marathon Digital announces immersion crypto mining operations in Abu Dhabi
Turner Wright
Argentina’s central bank banned payment providers from offering crypto transactions, adding that it intends to reduce the country’s payment-system exposure to d...
Argentina says no to crypto payments, France tolerates ‘finfluencers’: Law Decoded, May 1–8
David Attlee
Crypto miners paid millions of dollars in energy fees last year following the regulation of mining activities.
Kazakhstan collected $7M in crypto mining taxes in 2022
Ana Paula Pereira
Follow up
The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto comm...
Will Biden’s plan to tax crypto mining reduce emissions? Critics say no
Luke Huigsloot

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