Bitcoin mining: where is it cheaper and where is it more expensive to mine cryptocurrency
The profitability of the crypto business directly depends on the placement of mining facilities. Elite Fixtures presented data on where it is more profitable to mine bitcoins. Attention is drawn to the cost of electricity. This indicator differs in different countries and depends on many factors, including government support and the development of energy resources in general. The same factors determine the profit when mining bitcoins - the process is extremely energy-intensive. For example, a regular miner from Bitmain consumes 1350 watts (for comparison, the same is consumed by a coffee machine). On average, 7.2 thousand dollars is spent on the extraction of one bitcoin. At the same time, cryptocurrency mining will be profitable if the cost of one BTC exceeds 11 thousand USD. As it turned out, it is most unprofitable to mine cryptocurrency in Oceania - the cost of mining one BTC here is estimated at 12.2 thousand US dollars. This is followed by South America (7.1 thousand USD), European countries (6.6 thousand USD), the Asian region (6.3 thousand USD), the Middle East (6.2 thousand USD), North America (5 , 4 thousand USD) and Africa (4.6 thousand USD). Bitcoin is the most expensive to mine in South Korea - more than $ 26,000 per unit of cryptocurrency. (In the country, electricity rates in general are incredibly high - sometimes some households pay more for electricity than businesses.) Things are different in Venezuela. It costs 531 dollars to get one bitcoin. Venezuela is actively subsidizing the electricity sector. The high price of these resources is seen as the main obstacle to cryptocurrency mining. As for USA, the cost of mining one BTC is estimated at $ 4.6 thousand. Not so long ago, the Ministry of Natural Resources came up with a proposal to use the so-called green energy for the cryptocurrency mining business. The Topic of Article: Bitcoin mining: where is it cheaper and where is it more expensive to mine cryptocurrency. |
