Very interesting view into the insides of mining.<p>However, I always find it sad to see how mining is depicted in most media: as a way to "generate" bitcoins. This view is inaccurate for two reasons:<p>1. The purpose of this whole computation power is <i>to secure the Bitcoin transactions</i>. The mined Bitcoins are "just" an incentive (i.e. a desired side effect).<p>2. In addition to the mined Bitcoins, the miners receive the transaction costs. In the future, the mined Bitcoins will become a lesser and lesser part of the incentive, gradually replaced by the transaction costs.<p>Luckily, this one seems to be an exception. Although the title is misleading, the process is stated mostly correct (except for not mentioning transaction fees). From the related article:<p>"The lives of bitcoin miners digging for digital gold in Inner Mongolia"<p><a href="https://qz.com/1054805/what-its-like-working-at-a-sprawling-bitcoin-mine-in-inner-mongolia/" rel="nofollow">https://qz.com/1054805/what-its-like-working-at-a-sprawling-...</a><p><i>Today, Ordos (population 2 million) has emerged as a center of bitcoin mining, the process of approving transactions and creating new coins in the digital currency’s system</i>