Bitcoin Mining Explained
Learn how new coins are created and the network stays secure
Block Reward
3.125 BTC
≈ $296,403
Miners earn this reward for each block they successfully mine, approximately every 10 minutes.
Average Block Time
10m 38s
On target
Target: 10 minutes (600 seconds)
Based on current difficulty period
Difficulty Adjustment-6.01%
Progress73.26%
Remaining Blocks
539
Estimated Time
Next adjustment at block 895,104
Network Hashrate
833.16 EH/s
Total computing power securing the network
≈ 17 Nuclear Reactors
Massive security through energy
What is Mining?
Bitcoin mining is the process of adding new transactions to the Bitcoin blockchain and creating new bitcoins. Miners use powerful computers to solve complex mathematical puzzles.
How Mining Works:
- Miners collect pending transactions into blocks
- They compete to solve a mathematical puzzle (finding a valid hash)
- The first miner to solve the puzzle gets to add their block to the blockchain
- The winning miner receives newly created bitcoins (block reward) plus transaction fees
This process is called "Proof of Work" because miners must prove they've done computational work to add blocks.
Mining vs. Running a Node
What is Mining?
Bitcoin mining is the process of creating new bitcoins by solving extremely complex computational math problems that validate and secure transactions on the network.
Key Characteristics:
- Requires specialized hardware (ASICs)
- Consumes significant electricity
- Miners compete to solve puzzles and earn rewards
- Secures the network through proof-of-work
- Creates new bitcoins and processes transactions
Frequently Asked Questions