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Rocks on the sea floor deposited by the mid ocean ridges often contain magnetite. As the magnetite cools and crystallizes, they align with the earth's magnetic poles with the north side of the crystal pointing north and the south side pointing south

The earth's magnetic poles(and magnetic field) are caused by actions within the the earth's liquid core. The liquid outer core moving around the solid inner core acts like an electromagnet which creates both the magnetic poles and magnetic field.

As the mid ocean ridges deposit new sea floor containing magnetite, the earth often switches polarity. The rocks on the sea floor align themselves to the poles at the time they form. So, the mid ocean ridges create new seafloor, pushing the older seafloor away. And then when the polarity switches the magnetite crystals in new seafloor align themselves in a direction opposite to the ones deposited before the switch. This causes parallel bands of magnetic rock forming on either side of the mid-oceanic ridges.

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