What is mining for bitcoin?
The process by which members of the Bitcoin network come to an agreement on the subsequent block of transactions to be added to the blockchain is known as mining. A group of individuals known as "miners" compete against one another for each new block to solve a cryptographic conundrum. The fresh block of transactions is proposed to the network as a whole by the first miner who finds a solution. The block's successful miner receives newly minted bitcoin as payment. As a result, adding new bitcoin to the system happens through mining.