Bitcoin Miners compete to solve a cryptographic "puzzle", known as a Hash. These puzzles can only be solved by raw computational power. Proof of Work Hashing is the function miners perform in order to define a new group of Bitcoin transactions, known as a Block. By correctly solving the puzzles of a current block, miners prove their investment of work and are rewarded with newly-created Bitcoins. The measure of a miner's computational power is known as a Hashrate. The higher the Hashrate, the more solutions are provided which leads to more Bitcoin rewards.

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