From beginner to advanced — master exchanges, wallets and blockchain essentials
Bitcoin mining refers to the process of adding new blocks to the Bitcoin blockchain using a consensus mechanism called proof of work (PoW) that requires the entire network to agree on the validity of transactions. Bitcoin miners around the world compete for the chance to add a new block and earn the block rewards paid in bitcoins. One recent block earned a 6.25 bitcoin mining reward plus 7.10 bitcoins in network fees. In this guide, we’ll explain how Bitcoin mining works as well as the pros and cons of mining Bitcoin.
