Their software is great for miners who want to be able to mine not only Bitcoin, but other cryptocurrency coins, including Litecoin. In order to successfully add a block, Bitcoin miners compete to solve extremely complex math problems that require the use of expensive computers and enormous amounts of electricity. To complete the mining process, miners must be first to arrive at the correct or closest answer to the question. The process of guessing the correct number (hash) is known as proof of work. Miners guess the target hash by randomly making as many guesses as quickly as they can, which requires major computing power. The difficulty only increases as more miners join the network. Bitcoin mining is the process of securing and validation Bitcoin site transactions on the Bitcoin blockchain.