Bitcoins are ‘mined’ into existence. Mining is what the world calls the process of bringing them into circulation. Bitcoin mining involves both verifying transactions on the Blockchain and releasing new bitcoins (as the reward for the verification).

The process of mining involves an accumulation of recent transactions into blocks and trying to solve a cipher puzzle. The first participant to solve the puzzle gets to place the next block on the blockchain and claim his rewards. The mining reward which includes both transaction fees (paid to the miner through Bitcoins) and the newly released Bitcoin encourages competition in mining.

Since bitcoin mining is decentralized, anyone with a proper connection to the internet along with powerful enough hardware can participate in mining.

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