<p>On a high level, the entire bitcoin network is built on the fact that all of the nodes are following the same rules. The rules state that whoever hashes the next block gets to mint a number of coins, so they can.</p>
<p>From the <a href="https://bitcoin.org/bitcoin.pdf" rel="nofollow noreferrer">Bitcoin white paper</a>:</p>
<blockquote>
<p>By convention, the first transaction in a block is a special
transaction that starts a new coin owned by the creator of the block.
This adds an incentive for nodes to support the network, and provides
a way to initially distribute coins into circulation, since there is
no central authority to issue them.</p>
</blockquote>
<p>From <a href="https://en.bitcoin.it/wiki/Controlled_Currency_Supply" rel="nofollow noreferrer">the wiki</a>:</p>
<blockquote>
<p>Bitcoins are created each time a user discovers a new block. The rate
of block creation is approximately constant over time: 6 per hour. The
number of Bitcoins generated per block is set to decrease
geometrically, with a 50% reduction every four years. The result is
that the number of Bitcoins in existence will never exceed 21 million.</p>
</blockquote>

CC BY-SA 3.0
2015-03-27T19:58:49.783Z
2015-03-27T19:58:49.783Z
2020-06-16T11:10:03.350Z
JNCF
<p>I know that when someone is able to find a block and hash that can be attached to the chain, he will be awarded with "newly found bitcoins"</p>

<p>However, isn't mining simply finding the hash? Where do these new bitcoins come from?</p>

<mining-reward><coinbase-transaction>
How are bitcoins generated during mining?
user24840
# How are bitcoins generated during mining?

(Asked by: username_0 on 2015-03-27)

I know that when someone is able to find a block and hash that can be attached to the chain, he will be awarded with "newly found bitcoins"

However, isn't mining simply finding the hash? Where do these new bitcoins come from?

**Tags:** mining-reward, coinbase-transaction


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## 1 answers

### Answer by username_1 on 2015-03-27. Score: 0

On a high level, the entire bitcoin network is built on the fact that all of the nodes are following the same rules. The rules state that whoever hashes the next block gets to mint a number of coins, so they can.

From the [Bitcoin white paper](https://bitcoin.org/bitcoin.pdf):

> By convention, the first transaction in a block is a special
> transaction that starts a new coin owned by the creator of the block.
> This adds an incentive for nodes to support the network, and provides
> a way to initially distribute coins into circulation, since there is
> no central authority to issue them.

From [the wiki](https://en.bitcoin.it/wiki/Controlled_Currency_Supply):

> Bitcoins are created each time a user discovers a new block. The rate
> of block creation is approximately constant over time: 6 per hour. The
> number of Bitcoins generated per block is set to decrease
> geometrically, with a 50% reduction every four years. The result is
> that the number of Bitcoins in existence will never exceed 21 million.


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