Bitcoin mining is a fantastic thing that has revolutionized the entire world. Just like in the mining of other metals in which large machinery is used, in Bitcoin mining incredible computers are used.
As there is no central authority controlling Bitcoin, we need a way to validate your transactions, so that fraud does not occur. The mission of mining and miners is basically this, to validate transactions on the Bitcoin network so that these frauds do not occur.
In the case of Bitcoin these validations take place every 10 minutes on average. During these 10 minutes, all miners are solving computational problems in order to find the key to close this 10 minute block and move on to the next block, the miner who finds the key first gets the validation, in addition to all transaction fees of those 10 minutes, plus a reward for new Bitcoins.
The reward
Every 210 thousand blocks (On average 4 years) the miner's reward is reduced by half, that is, the amount of new Bitcoins created is reduced by half, in a process called Halving. At the beginning of the chain, this reward was 50 BTC, today it is 6.25 BTC. The next Halving is expected to happen in 2024 and the last one will take place in 2020. With this gradual decrease of new Bitcoins in the system, it is to be expected that the price of Bitcoin will appreciate in the long run.
Nice information of bitcoin for us to maintain or gain with hardwork.. :)