human
Explain the concept of bitcoin mining.
assistant
Bitcoin mining is the process of using computing power to confirm and process transactions on the Bitcoin blockchain. When a transaction is made, it is verified and added to a public ledger known as the blockchain. To achieve this, miners must use powerful computers to solve complex mathematical equations. When a miner succeeds in solving an equation, they are rewarded with a block reward made up of a number of bitcoins. This is how new bitcoins are released into circulation. As the blockchain grows, so does the difficulty of the equations, meaning miners require more computing power to solve the problems. Bitcoin mining is conducted by individuals or groups of people called miners.