Bitcoin Mining

PERCENTAGE OF TOTAL BITCOINS MINED 93.48% CURRENT MINING REWARD PER BLOCK 6.25 BTC BLOCKS MINED BETWEEN EACH HALVING: 210,000 TOTAL BITCOINS IN CIRCULATION: 19.63M TOTAL BITCOINS TO EVER BE PRODUCED: 21,000,000 THE TARGET BLOCK TIME IS 10 MINUTES RECORDED DATE: FEB, 2024 BITCOIN MINING USES A MASSIVE AMOUNT OF COMPUTING POWER TO SECURE THE NETWORK & MAINTAIN THE INTEGRITY OF THE LEDGER OF BITCOIN TRANSACTIONS. IT IS A PROOF-OF-WORK PROCESS WHEREBY SPECIALIZED COMPUTERS MAKE TRILLIONS OF GUESSES TO FIND A TARGET NUMBER. IN DOING SO, THEY VALIDATE A BLOCK OF TRANSACTIONS THAT GETS ADDED TO THE BLOCKCHAIN. THEY ARE REWARDED WITH NEWLY CREATED BITCOIN. IN ADDITION, THE MINERS COLLECT THE TRANSACTION FEES, ENSURING THEY’LL CONTINUE TO MINE AFTER ALL 21 MILLION BITCOINS ARE ISSUED.