Bitcoin mining is a process that creates new Bitcoins and releases them into circulation. Mining is crucial to the operation of Bitcoin and some other cryptocurrencies because it incentivizes users to enter accurate information into the shared ledger that keeps track of transactions and balances on an underlying blockchain network. Miners who participate in this…

Andy Rosen writes for NerdWallet. Email: arosen@nerdwallet.com. Twitter: @https://twitter.com/andyrosen.

The article How Does Bitcoin Mining Work? originally appeared on NerdWallet.

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