Get ready to take a deep dive into the mines.
Crypto mining plays a critical role in bitcoin (BTC) and other cryptocurrencies, including dogecoin (DOGE), litecoin (LTC) and zcash (ZEC), that use “proof of work” to secure the network. Mining has become a multibillion-dollar international industry, with participants ranging from plucky home miners to publicly traded companies. Like any big industry, cryptocurrency mining faces no shortage of political and public relations headaches. It’s the reason crypto is regularly accused of “cooking the Earth” but also a big part of why global investors trust a leaderless currency with an unknown creator.
In a new series, CoinDesk surveys the fast-changing crypto mining landscape, including the migration of bitcoin’s hash power from China after last year’s ban, diverse efforts to reduce cryptocurrency mining’s environmental impact and the benefits and controversies that mining operations bring to the local communities in which they operate. Our journalists and analysts visited mining farms around the world, interviewed key participants and crunched network data to paint a rich, nuanced picture of a little-understood business. We’ll publish it all here.
Over the course of Mining Week (March 21-25) we’ll be publishing feature articles, explainers, opinion pieces, data visualizations, videos, podcasts and other content that explores this dynamic, fascinating field. From proposals to modify Bitcoin’s software to cut energy consumption to up-and-comer projects that claim to be greener alternatives; from energy producers mining coins to make extra money and reduce waste to neighbors complaining about noise and higher electricity rates, this is a must-read package.
We hope Mining Week helps newcomers and crypto veterans alike deepen their understanding of a foundational part of the ecosystem.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.