The Cost of Mining Bitcoin in Every Country

in #waivio6 months ago (edited)

A recently published statistics by Visual Capitalists show the cost of mining Bitcoin in 198 Different Countries (stats as of March 23, 2022).

Cost-to-Mine-one-Bitcoin.png

Here is the source: https://www.visualcapitalist.com/cp/the-cost-of-mining-bitcoin-in-198-different-countries/

What are the cheapest and most expensive places to mine BTC?

  • According to stats, Kuwait is the cheapest country to mine Bitcoin ($1,393.95/BTC)

  • Venezuela ranks the most expensive country to mine Bitcoin ($246,530.74/BTC)

BTC power consumption

According to Bitcoin Energy Consumption Index, it takes around 1561.63 kWh of energy to process one Bitcoin transaction. It's a similar amount of energy an average US household consumes in 53 days. (16 Aug 2022, Digiconomist)

It takes an estimate of 115,600 kWh of energy to mine one BTC with Bitmain Antminer S19 XP (high-range miner), which is roughly 11 years of power for the average US household (BTC Mining Calculator)

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#cryptocurrency #crypto #bitcoin #btc #mining #technology #cryptonews

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