Tag: mining decentralization

Following power cuts to its bitcoin mining operations in China, BIT Mining is moving rigs to Kazakhstan.Bitcoin mining company BIT Mining, owner of the BTC.com mining pool and the corresponding domain name, announced today that it has successfully transferred the first of three batches of bitcoin mining...

After rising electricity demand and low rain, bitcoin mining operations in Sichuan, China have been restricted. How is the network responding?According to local news outlet China Times, the state grid in Sichuan's Aba county issued a notice on May 16 demanding energy-intensive enterprises in the area to temporarily cut down their power...

The global distribution of hash power may shift as various factors come into play during Bitcoin’s continued growth.Flex Yang is the CEO of Babel Finance, a leading cryptocurrency financial services provider based in Asia.What Are Some Key Factors In “Winning” The Global Hash Power War?In 2021, the bitcoin market is surely reaching an inflection point, as its market cap surpassed...

North America’s bitcoin mining industry is changing the way we use energy. But where exactly are these operations drawing their power from?In his introduction to Michael Saylor’s recent conference “Bitcoin For Corporations,” Ross Stevens, founder and CEO of Stone Ridge and NYDIG,...

China-based mining pool Poolin, which contributes the second-largest amount of hash rate of any single entity on the Bitcoin network, has acquired NovaBlock, a North American pool with offices in St. Jose, California and Calgary, Canada. The takeover will net Poolin an additional 1,681.83 petahashes per second (PH/s) in mining capacity, per data from BTC.com...

Bitcoin infrastructure company Blockstream has announced a $25 million purchase of the latest Whatsminer bitcoin mining rigs from MicroBT to be run across Blockstream Mining’s facilities in North America. Blockstream Mining was launched in 2019 with an intention of bringing more of the global hash rate to the West. The largest mining rig...

Like a hitchhiker taking to the American highways for the first time, anyone hoping to get a clear picture of the universe of bitcoin mining today might be perplexed at the seeming opaqueness, yet sheer size of the North American mining ecosystem. As a miner recently advised new entrants into the space on Twitter:...

Compute North, one of the largest bitcoin mining companies in North America with mining farms in Big Spring, Texas; Kearney, Nebraska; and North Sioux City, South Dakota, is taking a great leap forward through a new partnership with financial services firm Foundry Digital, a subsidiary of Digital Currency Group based in Rochester, New York. Through the partnership, Foundry will supply 14,000 new Whatsminer...

This year, there has been a concerted effort among Bitcoin mining pools and facilities based in North America to contribute a higher proportion of the Bitcoin network’s overall hash rate from the continent, providing critical decentralization to this system. But this has not been without its challenges. The Bitcoin mining environment is one with high...

Cryptocurrency mining software provider Titan announced the creation of Titan Pool, a bitcoin mining pool based in North America. An announcement shared with Bitcoin Magazine emphasized the enterprise-grade services that participants in the pool would receive, as well as the importance of its geographic location. “Asia and Europe account for nearly all mining power on the Bitcoin network, with the vast majority of...

Bitcoin mining-focused media company HASHR8 has launched the first report in its “Bitcoin Mining Index,” a planned series on the world’s prominent mining regions that offers detail on how the practice is taking shape and where opportunity lies around the globe.“Bitcoin mining is truly a global game,” a representative of HASHR8 told Bitcoin Magazine. “Each country has its own unique pros...

North American bitcoin mining farms all use mining pools to ensure steady block rewards, compiling hash power from miners operating remotely to compete with the industrialized farms based in China. Most of these mining farms use China-based mining pools (pools whose headquarters and, perhaps, servers for collecting hash power, are located in China) because the fees that they charge for collecting and distributing...

Bitcoin’s underlying computer network is the largest, most sophisticated computerized system in the world with working units in almost every part of the globe, from China to Kazakhstan to Venezuela to the U.S. And with recent all-time highs in hash rate and difficulty level, the Bitcoin mining industry is more competitive than ever. Meanwhile, there are questions about whether...

Bitcoin miners have successfully survived the 2020 Halving and COVID-19, and the network is now seeing some of its highest hash rates ever as these operations power up new equipment and reach new levels of decentralization going into the second decade of bitcoin mining. Bitcoin Mining Is Decentralizing China still dominates the bitcoin mining space, although the percentage of the hash rate coming...

The success of Bitcoin ultimately depends on the health of its mining industry. Bitcoin mining is central to transaction validation, the prevention of double spending and the hard cap on the bitcoin supply — basically, the things that make Bitcoin the revolutionary technology that it is. And Bitcoin mining has evolved dramatically since it was first introduced. Today, a large portion of the...