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Bitcoin Mining Explained. Bitcoin mining gets it's name from the fact that when transactions are added to the public ledger (block chain) new coins are created (mined). Bitcoin mining is an integral part of how bitcoin works. The bitcoin network relies on miners to verify and update the public ledge of bitcoin transactions, 

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Bitcoin Mining. Due to its decentralized nature, no central authority exists on the network that will produce more of the digital coin at will. Instead, coins are produced via the process of mining. Thus, the role of miners is to maintain the network by adding more blocks (transactions) to the blockchain. In order to mine Bitcoin,