The process of mining a new block in the Bitcoin network involves solving a complex mathematical problem using specialized hardware. Miners compete with each other to solve the problem, and the first miner to find the solution gets to add a new block to the blockchain and receive a reward in the form of newly minted bitcoins. The solution to the problem is used to verify transactions in the block and ensure that the block is legitimate. Once the block is added, it becomes a permanent part of the blockchain and is verified by other miners in the network. The process of mining is essential for maintaining the integrity and security of the Bitcoin network, as it helps prevent double-spending and other malicious activities.

Mining a new Bitcoin block involves validating transactions and adding them to the blockchain through a competitive, decentralised process. Miners collect pending transactions into a block and compete to solve a complex cryptographic puzzle (Proof-of-Work). This requires immense computational power, as miners repeatedly hash the block’s data with a nonce (random number) until they find a hash that meets the network’s difficulty target. The first miner to solve the puzzle broadcasts the new block to the network, where other nodes verify its validity. Once confirmed, the block is added to the blockchain, and the successful miner is rewarded with newly minted bitcoins (block reward) and transaction fees. This process ensures security, prevents double-spending, and maintains Bitcoin’s decentralised nature. Mining difficulty adjusts periodically to keep block creation time near 10 minutes.