Bitmined
Bitcoin mining is performed by high-powered computers who verify & create an audit trail each time crypto is bought and sold and place the results into the public blockchain
The Blockchain is a collection of blocks containing data, linked together with other blocks in a chain that can not be edited once created. This blockchain is made public on the Internet and available to millions of blockchain readers. By making the blockchain public, the datablock is forever linked to it's neighboring blocks and creates an audit trail (an open ledger) for all to read where the block came from and where it was transferred to. Each blockchain address can be identified, so the last known address still owns the data within the block.
Miners who operate these computers are very profitable and earn Bitcoin as a reward for auditing the Blockchain. Some of these miners are public companies listed on the stock market.
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Bitcoin Mining requires vast amounts of electrical power to keep the mining computers running and not overheating. Miners locate operations in low KiloWatt per Hour countries with low average temperature to keep their operating costs down.
2021 Electrical Rates by State = https://www.electricchoice.com/electricity-prices-by-state/
BitMain Mining Pool
Bitmain in China is one of the largest Crypto Mining operations in the world. They manufacture their own mining computers, keep air conditioned facilities and offer private individuals to share in the mining with some of the largest mining pools.
Bitmain Ordos Facility
The Largest Mining Pools
Each mining pool has hundreds of members working as a team to verify and audit each new crypto that is bought and sold on the Public Blockchain. Miners who verify a complicated algorithm, are rewarded with free Bitcoin for their work.
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