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Understanding Bitcoin Mining: A Comprehensive Guide
Bitcoin mining has emerged as a multi-billion dollar industry, consuming an estimated 1% of the world’s electricity. As it stands, Bitcoin (BTC) continues to hold the title of the largest cryptocurrency, boasting a market cap that is continually climbing into the trillions. Yet, despite its prominence in the financial world, many are unfamiliar with the mechanisms at play in Bitcoin mining. This article aims to elucidate the core concepts behind Bitcoin mining in straightforward language.