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There are no physical “coins” in bitcoin, only balances kept on a public ledger in the cloud, that—along with all bitcoin transactions—is verified by a massive amount of computing power. Bitcoin is backed by millions of ASICs around the world called “miners.” By mining bitcoin, you can earn cryptocurrency without having to put down money for it. It is also the only way to release new bitcoin into circulation.

  • Bitcoin miners review and verify previous bitcoin transactions and create new blocks so that the data can be added to the blockchain. 
  • What is ASIC Mining?

  • ASIC Bitcoin miners are electronic circuits designed for the sole purpose of mining bitcoins.
  • Reviewing Bitcoin, Blockchain, and Mining

    There are no physical “coins” in bitcoin, only balances kept on a public ledger in the cloud, that—along with all bitcoin transactions—is verified by a massive amount of computing power. Bitcoin is backed by millions of ASICs around the world called “miners.” By mining bitcoin, you can earn cryptocurrency without having to put down money for it. It is also the only way to release new bitcoin into circulation.

    Reviewing Bitcoin, Blockchain, and Mining

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