Lava that is released at the mid-ocean ridge axis cools and solidifies to form hard rock. It acquires a permanent magnetic field in the direction of the Earth's magnetic field as it cools.
As the oceanic crust separates, magma rises to the surface at mid-ocean ridges and pours out to form fresh bands of ocean bottom, which is how the striped magnetic pattern forms.
Iron is present in the ocean's rock. The iron particles within the molten material lined up in the direction of the Earth's magnetic poles as it cooled and hardened, forming a pattern of magnetized stripes.
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