2 days agoUp to 21 thousand euros in giant Bitcoin production prices
Periskopi(8 years ago)
(8 years ago)Bitcoin is expensive whether you buy it from an exchanger or if you produce it yourself. But Bitcoin production costs much more to produce in some countries than in others. Elite Fixtures has created a list of production costs around the world, using data from [...]
Bitcoin is expensive whether you buy it from an exchanger or if you produce it yourself. But Bitcoin production costs much more to produce in some countries than in others.
Elite Fixtures has created a list of production costs around the world, using data from three mines and average electricity rates in 115 countries since January 2018.
And, based on these results, you wouldn't want to do “mining” in South Korea. It costs 21,000 euros to produce a single Bitcoin twice the actual cost of buying a Bitcoin.
Niue (an island in the South Pacific) was the second most expensive country of 14,171 euros. The US proved to be the third most expensive country for producing a Bitcoin, at an average cost of 3,800 euros.
And Venezuela is the freest country on Earth to do <x0mining”, at an average cost of 428 euros, as electricity there is subsidised by the government.
More expensive places to produce Bitcoin
South Korea 21,000 euros
Niue 14171 euros
Bahrain 13,500 euros
Solomon's islands -- 13,000 euros
Cook Islands 12700 euros
less expensive places to produce Bitcoin
Venezuela 428 euros
Trinidad and Tabaco 960 euros
Uzbeksian 1,400 euros
Ukraine 1,494 euros
Mainmar ʹ 1,600 euros
