WHAT IS BITCOIN MINING?

Bitcoin mining is the process of verifying new BTC transactions which are recorded in blocks. Once verified, they are added to the chain containing a record of past transactions. Besides validating transactions, mining is used to add new BTC into circulation

Bitcoin miners use special mining hardware to solve complex mathematical problems. The miner that solves the mathematical problems the fastest wins the chance to add the next block of transactions to the blockchain. In return for their contribution to the network, Bitcoin miners receive a reward in BTC. This incentivizes them to continue solving math problems and supporting the overall system

According to Business Insider, nearly 90 percent of all Bitcoins have already been mined, and by 2140, all Bitcoins will be in circulation. Bitcoin mining is an expensive venture that requires heavy investment in energy-intensive equipment. Therefore, it might not be lucrative for investors with small budgets