Where and how are cryptocurrencies mined if a regular currency is minted at a factory?
In this process, they also verify transactions on the blockchain.
These computers are superior, high-energy-consuming machines.
Miners compete to prove their computational work in exchange for a block reward.
In this process, computers apply immense processing power.
It is a win-win situation for all parties in this ecosystem: the miners maintain the security and, thus, the blockchain's proof of work (PoW).