What Is Bitcoin Mining? How It Works and When It Pays Off

Bitcoin mining is the process that adds new blocks to the Bitcoin blockchain and issues new bitcoin. Specialised machines known as ASIC miners try trillions of random numbers per second until a block produces a hash below the target set by the network. Whoever succeeds first collects a block reward of 3.125 BTC, the amount in force since the halving of April 20, 2024, plus the transaction fees in that block.