What is Bitcoin Mining?

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The advent of blockchain technology and cryptocurrencies has created a spur amongst the technology enthusiasts. Opening the gates for creating highly diverse ecosystems, applications, and new earning opportunities, Bitcoin mining has always been in the spotlight of the crypto world.

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By mining cryptocurrencies, we mean the computational power, time & effort that a miner invests to ‘Mine’ a particular coin. This computing/processing power is pooled by ‘miners’ (who are otherwise individuals operating powerful computers). These miners operate a single or multiple powerful processors (known as ‘mining rigs’) that work on the network to solve complex transactional problems.