What is Bitcoin Mining and How Does it Work? Bitcoin, nothing could bitcoin mining asic profitability ratio further from the truth!
Without miners, the network would collapse and lose all value. The role of miners is to secure the network and to process every Bitcoin transaction. For this service, miners are rewarded with newly-created Bitcoins and transaction fees. To understand mining, it’s first necessary to understand the Bitcoin blockchain. The blockchain is essentially a public ledger, which is freely shared, continually updated and under no central control. Isn’t Mining a Waste of Electricity?