Bitcoin mining is the “process of validating other people’s transactions with a computer and then adding them to the long, public list of all transactions known as the blockchain.”
In exchange, miners get rewarded with cryptocurrency. Mining is performed by high-powered computers, with very expensive GPU’s, that solve complex computational math problems. Machines have also been developed with the sole purpose of mining cryptocurrency, as the popularity of coins has risen.
The price of Bitcoin has risen by thousands in the last decade.
But anyone with a computer and an internet connection can become a miner. It’s worth noting that mining is not always profitable. Depending on several factors, such as which cryptocurrency you’re mining, how fast your computer is, and the cost of electricity in your area, you may end up spending more on mining than you earn back in cryptocurrency.
