Bitcoin mining refers to the process of hashing, or using computers to solve complex algorithms. When an algorithm is solved, a new block of transactions is created and added to the blockchain. The blockchain is the public record, or ledger, of all Bitcoin transactions.Whenever Bitcoin transactions are carried out, they’re first broadcasted to the whole network and then get added to the blockchain via the miners. The process of hashing is therefore vital to deciding which transaction takes precedence (since not all transactions can fit inside a single block). If miners stopped mining, the entire Bitcoin system might actually collapse.