How Does
Work?
Work?
MORE ON MINING
Bitcoin is 'mined' by specially designed, powerful computers all
over the world, called ASIC miners - Application Specific
Integrated Circuit miners.
Whatsminer M50S
Antminer S21 Pro
Bitaxe 401 Supra
Miners devote computing power AKA hashrate, via electricity to
the network,
to add blocks to the Bitcoin blockchain.
These computers run 24 hours a day, usually in sets of a few, to
a few hundred or thousand.
They are basically running a lottery. When one of them guesses
a number
(the nonce) that generates a hash that satisfies the current
difficulty target,
they get to add the next block to the timechain.
All the above is the proof-of-work (PoW) needed to birth new
bitcoins.