Mining: The process by which transactions are verified and added to a public ledger, known as the blockchain, in cryptocurrencies like Bitcoin. Miners use powerful computers to solve complex mathematical problems that validate transactions. The first miner to solve the puzzle adds a new block to the blockchain and is rewarded with cryptocurrency.

This proof-of-work system underpins the security and integrity of many cryptocurrencies, making it costly and time-consuming to attempt fraudulent transactions. Mining has evolved from a hobbyist activity to a significant industry, with large-scale operations seeking energy-efficient locations worldwide.

“Finally set up my mining rig in the basement—hoping to contribute to the network and maybe earn some crypto along the way. The energy bill’s going to be interesting!”