Standard cryptocurrency mining works via a powerful computer system that runs crypto software (the software is free) for as long and as often as you can. The computer system is called a “node,” and it is one of many nodes on the blockchain network that help send transactions around the cryptocurrency network.
Mining nodes group outstanding transactions into blocks and add them to the blockchain. The process is done by solving complex mathematical equations that verify the accuracy of these transactions. Blocks are solved every ten minutes with the victorious miner receiving the 12.5 bitcoins, currently worth almost $200,000.
Crypto mining is notoriously unprofitable since you need extremely powerful processors and hundreds of thousands of megawatts of electricity in order to compete against the horde of other miners on your network.
For this reason, some individuals have resorted to cryptojacking where they stealthily use someone else’s computer to mine cryptocurrency.