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Debtbox Decode with Mike \u0026 TerryWe model the transaction priority mechanism of Bitcoin as a priority queueing system with batch service, deriving the mean transaction-confirmation time. Bitcoin mining is a process that creates new Bitcoins and releases them into circulation You're our first priority. Every time. NerdWallet. Miners begin the mining process by constructing a candidate block. They select transactions from the mempool, prioritizing them usually based on transaction fees .