The process that results in the release of certain amounts of a particular digital currency into its circulating supply. Mining is often the process that governs the verification of transactions and the addition of blocks to a blockchain.
Bitcoin Hash Rate Spikes to All-Time Highs
Bitcoin's hash rate has hit all-time highs of 398 terahashes per second (TH/s) on March 23, with analysts suggesting miners are turning on their rigs as BTC's price rises. The increase in hash rate is attributed to unused mining inventory coming online and entrepreneurs finding cheap sources of mining. While some have speculated that lower prices forced miners to shut down their rigs, others believe that attractively priced hardware is being bought up by well-capitalized miners.
Venezuela Shuts Down Crypto Mining Operations
Venezuela has closed down crypto mining facilities as part of a national crypto department reorganization and corruption investigation into the country's oil company, PDVSA.
KyberSwap announces first ever $ARB token liquidity pools, liquidity mining and trading campaigns on Arbitrum
Since launching in 2021, Arbitrum has emerged as one of the most promising Layer 2 solutions, with its ability to scale Ethereum and enable faster and cheaper transactions.
Solo Bitcoin Miner Wins Rare Block Reward Worth Over $150,000
A solo Bitcoin miner successfully mined the 780,112th block in the Bitcoin blockchain, earning a block reward of 6.25 BTC worth over $150,000. The miner was able to produce a valid hash after just two days of mining, a rare occurrence that typically takes solo miners months to achieve. The miner may have rented hashing power to produce the output hash, and they used the Solo CK Pool mining service to create a solo mining pool.
Argo Blockchain Increases Daily Bitcoin Production Despite Network Difficulty Spike
Argo Blockchain increased its daily Bitcoin production to 5.7 BTC per day in February, up from 5.4 BTC per day in January, despite a 10% increase in network difficulty.
Canaan's Q4 2022 Revenue Declines by 82.1% YoY to $56.8M
Canaan, a Chinese Bitcoin miner and manufacturer of ASIC mining machines, reported an 82.1% YoY revenue decline to $56.8M in Q4 2022. The company's net income swung to a $63.6M loss due to inventory write-downs and research expenses. Despite the decline in revenue, Canaan's mining revenue improved by 368.2% YoY to $10.46M.
Former facilities worker who allegedly set up a secret cryptocurrency mining operation
After skipping a court arraignment session, Nadeam Nahas faces arrest for using a school's energy for bitcoin mining.
A cryptocurrency mining rights bill prohibit the discrimination of crypto
The Montana Senate approved a law to protect cryptocurrency miners from discrimination.
Bitcoin Ordinals Create Stir Within Crypto Community
Luxor CEO Nick Hansen stated Bitcoin Ordinals might produce "synergies" between the mining pool and OridinalHub.
The Most Unworkable State Law
An Illinois senator has presented a law that would compel crypto node operators, miners, and validators to reverse transactions if ordered by the court, even though it's impossible.