The Rating Of The Most Profitable Countries For Mining


The edition of International Business Times analyzed the profitability of mining in 115 countries and made a rating, in which Venezuela ranked first – it is there, according to the research, that the earnings of one Bitcoin are cheaper.

For calculation, the average energy costs required for the extraction of one Bitcoin were taken. The price was taken in US dollars, considering the electricity consumption as popular mining devices – AntMiner S7, S9 and Avalon 6. Comparing the data provided by the International Energy Agency, it was possible to find out that the earnings of a Bitcoin cost in Venezuela only 531 dollars.

The lowest prices for electricity among Asian countries boasted India, where one bitcoin can be extracted, spending 3,274 dollars, and China, where the cost of producing a popular “coin” is 3172 dollars.

The United States took only 41 places in the rating – here it is necessary to “burn” the light at $ 4,760. Nearby are Iceland and Sweden, where you can get hold of Bitcoin for $ 4,746. There is not much good, but in the UK, for example, this amount will almost double. Canada, the northern neighbor of the United States, can save almost a thousand dollars – there the mining farms spend $ 3,965 on the extraction of one “Bitka”.

Less than that, the island countries of the Pacific and the Caribbean have been lucky – here, naming one Bitcoin, will have to shell out more than ten thousand dollars for local energy companies. Leading in the ranking of the most expensive countries for mining South Korea – where the extraction of one Bitcoin costs 26,170 dollars.

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