Bitcoin mining is the process by which new Bitcoin is created and transactions are recorded and verified on the Bitcoin blockchain.
Mining involves using specialized computers (known as miners) to solve complex mathematical puzzles. When a miner solves a puzzle, they receive a reward in the form of new Bitcoin. This reward is called a block reward and it incentivizes miners to continue to secure the network.
For example, let’s say a miner is trying to solve a puzzle. They will use their computer to try different combinations of numbers and letters until they find a solution. Once they find a solution, the miner will be rewarded with new Bitcoin. This new Bitcoin is then added to the Bitcoin blockchain, making it available for use by other users.