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July2018

Bitcoin Mining Costs Throughout the World

Bitcoin Mining Costs Throughout the World

The cost of bitcoin mining depends on several factors, among which is the electricity rate. Taking the average electricity rate per country into account, it is possible to see that the cost of mining 1 Bitcoin is very different in different countries.

The most expensive country to mine in is South Korea, as the cost of mining one Bitcoin is $26,170. The difference between the leader and the second most expensive country is almost $10,000; Niue takes the second place with the cost of $17566. Bahrain, the Solomon Island, and the Cook Islands follow.

As for the cheapest mining cost, Venezuela wins with $531 for one coin. The other countries for cheap mining are Trinidad and Tobago, Uzbekistan, Ukraine, and Myanmar with $1,983.

European countries differ by the price for one Bitcoin mining. Denmark and Germany have probably the highest cost among the European countries - $14,275.

France is in the middle, comparing to other countries. The cost for mining in France is $7,930 for one coin, similar to Scandinavian countries and Switzerland, which is considered to be an intermediate cost.

Blockchain & Bitcoin Conference France: Bitcoin Mining Costs Throughout the World

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