News
Bitcoin miners had a mixed bag in June, with Australian-based miner IREN reporting a record-breaking month for revenues, but lower Bitcoin production.
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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
CoreWeave acquires Bitcoin mining giant Core Scientific for $9 billion in an all-stock deal, boosting its data center capacity for AI and high-performance computing.
3743 - Analysis
When mining got tough, these firms chased AI dreams. Here’s how it panned out.
7197 - Market Analysis
Bitcoin's pullback reflects the market’s anxiety about the US economy and dormant BTC wallets shifting billions worth of BTC.
12236 - News
The mining companies opened sharply higher on Thursday after US nonfarm payrolls surprised to the upside.
9350 - News
The IMF has reportedly blocked Pakistan’s plan to use cheap electricity for crypto mining, warning it could destabilize the energy market.
4651 - News
Wyoming Senator Cynthia Lummis had proposed that the legislation address double taxation for cryptocurrency miners and stakers.
12884 - Explained
Russian miners packed 95 crypto rigs into a KamAZ truck. The scam is now busted, but the case reveals how mobile farms exploit weak energy enforcement in remote areas.
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Bit Digital’s stock plummeted after announcing a $150 million share sale and a transition from Bitcoin mining to Ethereum staking.
15214 - Market Analysis
Mounting macroeconomic risks, declining Bitcoin miner revenues, and cautious sentiment among investors could trigger a sharp BTC price correction.
10747 - News
CoreWeave’s previous takeover bid for Bitcoin miner Core Scientific was rejected for being too low.
21339 - Market Analysis
Bitcoin bulls appear poised to win the upcoming $20 billion options expiry, raising the chances for a rally to $110,000.
7542 - News
In what looks to be the most dramatic decline in three years, Bitcoin’s hashrate dropped over 15% between June 15 and Tuesday.
6551 - News
Panther Metals is planning a $5.4 million Bitcoin treasury and will use it as collateral to buy a mineral mining deposit in Canada and other commodities in the future.
3044 - News
Bitcoin ASIC maker Canaan has launched pilot production in the US and dropped its AI chip business, signaling a strategic pivot to core crypto operations.
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