Not Your Father’s Data Center: Mining for bitcoin and other cryptocurrencies

Fred Thiel, CEO of Marathon Digital Holdings, one of the largest bitcoin mining operations in North America, joined host Raymond Hawkins to discuss cryptocurrency. From blockchain to bitcoin, Thiel covered it all, including all the nooks and crannies in between.

“The blockchain is essentially a chain of linked blocks that each block consists of a certain number of transactions,” Thiel said. “If you think about a ledger, like your check register, if you have a checkbook and you write a bunch of checks, you write them down in your check register at the month you get a statement from your bank. So, those types of transactions are formed into blocks. The underlying software for the blockchain allows miners to do this process of assembling these transactions into blocks. Then you run a mathematical cryptographical proof on this data, and that generates a hash. And that hash has to have a certain value to it. And when it gets that hash, it then has to be equal to or less than a specific target number that the blockchain is looking for.”

Miners who guess that number correctly will win the block, publish the block, other nodes validate the block, and then the miner will receive a block award.

In the high-stakes game of blockchain mining, with limited numbers of bitcoin issued per day, Thiel said there is a competition to it. “If you have one miner, and you plug it in, you’re not going to get a fraction of a bitcoin every day,” Thiel said. “And so what miners do is, miners, pool their miners together. And aggregating and cooperating, a group of miners in a pool, you have a more hash-rate you’re contributing to the overall network, and a higher likelihood you’re going to win blocks, and the block rewards can be evenly distributed amongst members of the pool.”

Follow us on social media for the latest updates in B2B!

Image

Latest

AI Infrastructure
Execution at Scale: How Applied Digital Is Powering AI Infrastructure in Ellendale
July 17, 2025

AI infrastructure is evolving at breakneck speed, and the real challenge is no longer just designing next-generation data centers—it’s executing them at scale. As demand for AI-ready facilities grows, operators must adapt to immense increases in power density, new cooling technologies, and unconventional deployment locations. Power density requirements for AI workloads are pushing the…

Read More
workplace visibility
Workplace Visibility Builds Careers and Communities Through Trust, Recognition, and Shared Growth
July 17, 2025

What if the most powerful way to grow your career isn’t by perfecting your pitch, but by telling your story? In this episode of Professional Quotient: Conversations that Build Equity, host Jason Winningham welcomes Hunter Lopatin, the Director of MarketScale, to explore the real value of visibility and voice in the workplace. The discussion…

Read More
Marketplace Inclusion
How TEKsystems Uses Marketplace Inclusion to Drive Equitable AI Adoption
July 16, 2025

As organizations race to integrate AI into every corner of business, an equally urgent conversation is emerging: How do we ensure this adoption doesn’t widen existing equity gaps? AI is both a disruptive force and an opportunity engine, as recent data shows that AI adoption among HR professionals jumped to 72 percent in 2025, up…

Read More
storytelling
The Secret to Brand Loyalty: Why Storytelling Is the Best Way to Be Heard in a Crowded Market
July 16, 2025

In today’s fast-evolving digital marketplace, attention is scarce, and trust even more so. In an era of remote work, AI-driven marketing, and constant digital noise, storytelling has emerged as one of the most powerful tools to cut through the clutter. In fact, research shows that people who used storytelling techniques to remember information recalled seven…

Read More