as I understand it, the platform works in such a way that miners do not have to purchase expensive and over time depreciating equipment. In addition, there will be much less power consumption. Then how does the mining process go?

in fact, everything is simple. It was said above that even blocks of Ethereum are used. As a confirmation of this, source code is available on the website, which is visible to all users who want to familiarize themselves with how the blocks were created.