The University of SydneyPage 19MinersMining is the process by which -New bitcoin is added to the money supply.-Secures the bitcoin system against fraudulent transactionsMining rewards-New coins created with each new block-Transactions fees from all the transactions included in the block.To receive these rewards, Miners compete to solve a cryptopuzzle. The solution to the cryptopuzzle, called the “Proof-of-Work” ins included in the new block and act as proof that the miner expended significant computing effort.