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Bitcoin's price depends pretty much on the scale of its mining network, as the larger the network is, the easier – and therefore more costly – it is to produce new bitcoins. As a result, bitcoin's prices have to increase as their production costs often grow. The accumulated processing power of the Bitcoin mining network is known as the "hash rate," referring to the number of times per second the network can attempt to complete a required hashing puzzle before adding a block to the blockchain. Bitcoin mining is the mechanism that releases Bitcoins into circulation. In general, mining involves solving computationally challenging puzzles to discover a new block added to the blockchain.