Mining in the context of cryptocurrencies like ChainLink is a process through which new coins are created and transactions are verified on the blockchain network. This process involves solving complex mathematical puzzles using high-powered computers. Miners compete against each other to be the first to solve these puzzles and add a new block of transactions to the blockchain.

Mining makes money work in a few ways. Firstly, miners are rewarded with newly minted coins for their efforts in solving these puzzles. This reward serves as an incentive for miners to continue verifying transactions and securing the network. In the case of ChainLink, miners are rewarded with LINK tokens for their work.

Secondly, miners also earn transaction fees for including transactions in the blocks they mine. Users who want their transactions to be processed faster can choose to pay a higher fee, which incentivizes miners to prioritize their transactions. These fees serve as an additional source of income for miners.

Overall, mining plays a crucial role in the functioning of blockchain networks like ChainLink by securing the network, validating transactions, and creating new coins. Without miners, the network would be vulnerable to attacks and fraudulent activities. In return for their efforts, miners are rewarded with newly minted coins and transaction fees, making mining a profitable venture for those who are willing to invest in the necessary hardware and resources.