Where is it cheaper to mine Bitcoin?

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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