Where is it cheaper to mine Bitcoin?

March 6, 2018

Electricity costs are calculated, depending on the Bitcoin mining region.

Electric power company Elite Fixtures compared costs for the production of 1 BTC in the regions of the world. Energy prices around the world vary depending on a number of factors, including government subsidies and access to natural resources.

In Africa and Venezuela!

The same factors affect how much the work of energy-intensive equipment for Bitcoin mining takes. On average, 12203 dollars is spent on the extraction of 1 BTC in the Oceania region. This is the most expensive region in this respect.

It is followed by South America – 7 150 dollars, Europe – 6 695 dollars, Asia – 6 378 dollars, Middle East – 6 249 dollars, North America – 5 456 dollars.

Africa – the cheapest region for the production of crypto-currency, the cost of 1 BTC there will be an average of 4 626 dollars.

Among individual countries, the most for energy for extraction of 1 BTC is paid in South Korea – 26 170 dollars. And least of all in Venezuela – only for 531 dollar for 1 BTC.

The average cost of electricity for the extraction of 1 BTC for all countries is 7 295 dollars.

Elite Fixtures explored just 111 from 195 countries on Earth, reports Bitcoinist.

Author: Evgenij Novožilov, Analyst Freedman Club Crypto News

Image from Fotolia

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