How does it work out when a business wants to create its own digital coin? Does this mean they buy a data center and try to mine coins or what? I understand something like ethereum as it is for smart contracts but having problems understanding other altcoins.
Most of the new projects that I've seen are mining on their own and not required to buy their own data centers. The difficulty is what makes them guarantee that early miners of their own coin will get enormous coins from them.
The philosophy is the same as when bitcoin has started.