Mining

Mining is the process of finding blocks on Proof-of-Work networks (such as Bitcoin and Ethereum Classic) and getting the block rewards. The mining process can be regarded as the process of solving mathematical problems. The first one who provides a valid answer will receive rewards.

This process is often facilitated with specialized mining machines (ASIC miners, GPU miners). A miner is often referred to as a mining machine. People who own and operate these machines are also called “miners”. Cryptocurrency obtained is referred to as “mining rewards”.

Due to the noise and power consumption of mining machines, most miners choose a professional mining farm for hosting mining machines. At the same time, miners generally choose to link their mining machines to mining pools in order to obtain rewards at a faster and more stable rate.