In the Blockchain white paper, Satoshi Nakamoto, described how a network of computers would verify all the transactions of the blockchain via nodes or computers owned by individuals. This is known as an open ledger, so that everyone with access to a computer, or smart phone could check the transactions and help prohibit double selling or fraudulant transactions between peers.

 

He also knew that the cost to do this would be a burden on the person running the node, and so he devised a reward program that would pay out a certain amount of bitcoin to the node that solved the blockchains hash problem. This reward was set at 50 Bitcoins every 10 minutes, this was halved to 25 and is now 12.5 Bitcoin, the next halving is due in 2020 and the reward will be about 6.25 Bitcoin.

This process of solving the problem is know as mining, and as with mining any mineral, you need to break it out of the rock, so the Bitcoin miners are breaking the coin out of code. If there are no miners, the whole blockchain infrastructure would come to a standstill and no more Bitcoin would be issued.

Mining the blockchain has now become so expensive and difficult (http://blockchain.com/pools) that you need specialised hardware and unlimited power, which all comes at a price, so mining on your own is not at all profitable.

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This picture is of a Bitmain S9 Antminer mining computer, these are ASICS computers, which means they are specifically designed to mine Bitcoins from the Blockchain. They cost around $2000 per unit, this also does not include peripherals like airconditioning to cool them, as they run very hot, 24 hours a day, 7 days a week. Unfortunately, like mining from your phone or home computer, it is too difficult to be able to use just 1 computer, so you need to pool of as many of these machines together as possible, and with the cost of mining a single Bitcoin being around $5000, trying to mine in your bedroom, or study is just not worth it. 

The only way to mine profitably is by joining a mining pool that has established themselves and have a proven track record of getting results from the mining of the Blockchain.

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