Library · Crypto, word by word · The basics
What is crypto mining?
Mining is the process of using computer hardware to create new blocks under proof of work. Miners compete to solve a costly mathematical puzzle; the winner adds the block and collects newly created coins plus the transaction fees inside it.
What it means for you
Mining costs hardware, electricity and often pool fees, whether or not a block is found. Not every coin is mined: Ethereum switched mining off in 2022, so an offer of 'Ethereum mining' is not mining on Ethereum itself.
Sources: bitcoin.org: Frequently Asked Questions, ethereum.org: Mining · checked 4 October 2026
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