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Mining Cryptocurrency: Is It Still Profitable? Cryptocurrency mining emerged as the backbone of early blockchain networks, most notably Bitcoin. It is the process by which new coins are entered into circulation and also the way that new transactions are verified and added to the blockchain ledger. Miners use powerful computers to solve complex computational problems. The first miner to solve the problem gets to add the next block of transactions to the chain and is rewarded with a certain amount of cryptocurrency and transaction fees. In the early days, mining was