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What is Bitcoin

What is 'Bitcoin Mining'
Bitcoin mining is the process by which transactions are verified and added to the 
public ledger, known as the block chain, and also the means through which new 
bitcoin are released.  Anyone with access to the internet and suitable hardware can 
participate in mining.  The mining process involves compiling recent transactions 
into blocks and trying to solve a computationally difficult puzzle.  The participant 
who first solves the puzzle gets to place the next block on the block chain and claim 
the rewards.  The rewards, which incentivize mining, are both the transaction fees 
associated with the transactions compiled in the block as well as newly released 
bitcoin source :-
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