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What is Bitcoin mining?
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Bitcoin mining is the process of verifying and adding transactions to the public ledger (known as the “blockchain”) in exchange for a reward in Bitcoin. The process of mining involves computers competing against each other to solve complex mathematical problems in order to confirm blocks of transactions before they are added to the blockchain. As the block chain is permanent, every transaction is secured by cryptography and can not be reversed. Miners earn rewards in the form of transaction fees and newly minted Bitcoins.