To do so, they must compete with others around the world to find the answer to a complex math puzzle, which grows in difficulty as more and more computers, known as “miners,” join the network.
The whole process is underpinned by something known as “proof of work.” And it uses up an incredibly large amount of energy.
The mine in question, a warehouse-like building located in the military town of Boden, houses 15,000 of these mining rigs in total.
Ethereum is currently in the middle of a lengthy transition to proof of stake, a move advocates say would reduce its energy consumption by over 99%.
But a peer-reviewed study released in February found bitcoin mining only got dirtier in 2021, with miners actually flocking to regions that more reliant on coal and other fossil fuels, including Kazakhstan and southern U.S.