All terms
Competing to produce blocks on a proof of work chain in exchange for rewards.
Miners run specialized hardware performing trillions of hashes per second, searching for a valid block. The winner receives newly issued coins plus transaction fees.
Bitcoin mining is now an industrial business measured in megawatts, largely located wherever electricity is cheapest and often using otherwise stranded energy.
The Bitcoin block reward halves roughly every four years, which is the core of its supply schedule.
That mining is how you get free coins. It is a business with electricity, hardware and difficulty that rises as competitors join. On the major chains it has been industrial for years, and mining at home is a hobby rather than an income.
Common questions
Is mining still profitable for individuals?
What happens to mining when the last bitcoin is mined?
Where this comes up on the site
The guides that actually use this word, rather than a list of everything we have written.
Where to go next
More technology terms
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