Bitcoin Mining

NRG Bloom - empowering Africa

Bitcoin mining is the process of supporting, verifying and confirming transactions on the Bitcoin network and generating new Bitcoin in the process. Mining does not involve any physical extraction. Instead it uses computing power to solve complex mathematical challenges that validate transactions and add them to the blockchain - a decentralized ledger that records all Bitcoin transactions. Bitcoin miners compete to be the first to solve the challenges and earn newly minted bitcoins as rewards alongside transaction fees. Mining requires energy to solve these mathematical puzzles and involves running specialized hardware, application-specific integrated circuits (ASICs). Energy consumption has become a significant factor in the economics of mining Bitcoin. At NRG Bloom we’re building a Bitcoin operation powered by wasted and renewable energy.