Mining Ethereum refers to the process of using computer power to validate transactions and add new blocks to the Ethereum blockchain. Miners compete with each other to solve complex mathematical problems and the first one to find the solution is rewarded with Ether, the cryptocurrency of the Ethereum network. In order to mine Ethereum, one needs a computer with specialized hardware, such as a graphics processing unit (GPU), and software that connects to the Ethereum network. The profitability of mining Ethereum depends on factors such as the current price of Ether, the cost of electricity, and the competition among miners.
