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  What Is Bitcoin Mining? Bitcoin mining is the process by which transactions are officially entered on the blockchain and new bitcoins are launched into circulation. Miners use hardware and software to generate a cryptographic number that is equal to or less than a number set by the Bitcoin network's difficulty algorithm. The first miner to find a solution to the problem receives bitcoins as a reward, and the process begins again. Mining Bitcoin requires significant time and capital investment, and due to high competition, profit is not guaranteed. Those who are thinking about starting may want to weigh the pros and cons, as well as alternatives, of owning Bitcoin by purchasing it through a  leading crypto exchange . KEY TAKEAWAYS Bitcoin miners receive bitcoin as a reward for creating new blocks, which are added to the blockchain. Mining rewards can be hard to come by due to the intense competition. An alternative to consider is purchasing Bitcoin through a  crypto exch...