Bitcoin mining is the processing of transactions in the digital currency system, in which the records
of current Bitcoin transactions, known as a blocks, are added to the record of past transactions,
known as the block chain. A Bitcoin is defined by the digitally signed record of its transactions,
starting with its creation. The block is an encrypted hash proof of work, created in a
compute-intensive process. Miners are awarded a certain number of Bitcoins per block.
All you need is a verified blockchain wallet connected to the mining software which works with the
miners to generate coin. Mining bitcoin involves getting a block which is 12.5 BTC. This is here
distributed to investors based on their initial investment.
Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve
complex math puzzles and you are rewarded with a coin or a fraction of a coin. The first bitcoin
miners were able to earn coins relatively quickly just using what computing power they had in their
By 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the
reward is halved every four years. On top of that, serious miners have built huge arrays to mine,
making it harder for smaller miners to compete. You can join a bitcoin mining pool to be more
effective, but that comes with a fee which is 10% of your payout.