Beginner
Mining
Also: miners, miner, bitcoin mining
Using specialised computers to secure a proof-of-work blockchain in exchange for new coins and fees.
Miners bundle waiting transactions into a block and race to find a valid proof of workProof of work A consensus method where miners spend computing power to earn the right to add the next block. solution. The winner earns the block rewardBlock reward The newly created coins paid to whoever adds a block, on top of transaction fees. plus fees. Mining is now dominated by specialised machines (ASICs) running where electricity is cheap.