Mining
Block Mining Inc builds, deploys, and operates data center infrastructure across the United States supporting the Bitcoin network
Block Mining Inc builds, deploys, and operates data center infrastructure across the United States supporting the Bitcoin network
Users submit transactions to the Bitcoin network for confirmation, which are batched together to form a block
Miners compete to solve a puzzle through a process known as Proof of Work, where the probability of solving the puzzle is determined by a miner’s computational power, referred to as hash rate
The miner who completes the process first is rewarded with the creation of the block, and the transactions are broadcasted to the independent network of nodes for validation
If consensus between nodes is reached regarding the validity of transactions, the new block is added to the blockchain, forming an immutable ledger of financial data
The winning miner is rewarded via transaction fees and newly minted Bitcoin through the protocol’s programmed supply issuance (currently 6.25 BTC)