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Bitcoin mining

Bitcoin Mining is a distributed proof-of-work consensus system used to confirm transactions by including them in the block chain. Transactions are then packaged in a block that follows strict cryptographic rules that must be verified by the nodes of the network. Miners are in constant competition with one another to validate their candidate block to earn the block reward - which is how new units of bitcoin are created & how the network is secured.

Related: Proof of Work | Energy | Green Energy | ASICs | Mining Pools