Bitcoin mining is the process of extracting Bitcoin from the blockchain. In theory, it’s a concept that is hard to grasp, but the general outline is that Bitcoins (and other cryptocurrencies) are mined by computers making complicated calculations. The problem is, these computers and devices uses a huge amount of energy when solving the algorithms, even just to mine small fractions of Bitcoin. So, we have a problem don’t we.
Expensive machines all working together, creating high energy bills, a lot of heat and a big carbon footprint, in return for a small amount of Bitcoin.