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  "documentTitle": "Cipher Mining | SPAC Presentation Deck | 55 slides",
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  "notes": "Uses a numbered process flow to map technical steps to a visual diagram.",
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      "kind": "callout",
      "text": "Bitcoin mining is based on a trustless algorithm requiring miners to solver cryptographic puzzles in order to create new blocks of transactions",
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      "text": "1. New transactions are broadcast to the network\n2. Economically-motivated miners select transactions with the highest fees to construct potential blocks\n3. Miners work in competition to solve the cryptographic puzzle, spending electricity and time to find the solution via brute force guessing (hashing)\n4. Once a miner finds a correct solution, the new block is broadcast and verified across the network, thus being added to the blockchain\n5. In adding this block to the blockchain, the winning miner is compensated for their work through: 1) block reward (new Bitcoins) 2) transaction fees",
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      "text": "Source: Cipher Mining management and Galaxy Digital Research",
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      "text": "Bitcoin Mining Technical Overview",
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