[Isomatik]

Proof of work mining is just a bunch of computers trying to brute force the password for the next block so they can get the mining bounty and fees from the transactions they include, so the vast majority of the results are thrown away. For bitcoin in particular, the difficulty is a sliding scale based on how quickly the most recent blocks have been mined, so increasing the number of miners leads to more energy being required to mine a block while the transaction capacity stays relatively constant.