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A new digital currency in the form virtual cash, known as Bitcoin was acquainted with the world by Satoshi in 2009. Bitcoin is the most notable computerized money. It is based on peer-to-peer distributed system with no central authority controlling it. It is based on the technique known as Blockchain, a kind of peer-to-peer ledger system containing the record of all transactions. All set of transactions are logged in the blocks. The new transactions generated by the users are broadcasted using signed blocks to verify over the Bitcoin network. The transaction is verified by mining process and added to the Blockchain. In order to add the transaction into the block, the miner solves the cryptographic puzzle. The miners are rewarded for their work. This paper is focused on mining strategy and reward mechanism of the Bitcoin. The challenges in mining process are identified and probable solutions are presented.