The Cost to Mine a Single BTC Throughout 115 Different Countries (opens in new tab)

(i.imgur.com)

2 pointsgaia8y ago3 comments

3 comments

Myanmar, Uzbekistan, Kuwait, and Ukraine have very low prices...

Is electricity subsidised in these places?

Why are miners moving to Iceland if it's 3x more expensive than these places?

(I'm ignoring Venezuela, since presumably the very low price is due to the stats not taking into account inflation correctly)

gaiaOP8y ago

Those countries have cheap (hydro for Myanmar and carbon for the rest) based energy sources, but are not stable politically nor economically.

Iceland has plenty of renewable energy and a stable economy. With renewable energy your cost is nearly all upfront with practically free energy from there on. It is suitable for long term investment.

gaiaOP8y ago

Source: https://www.elitefixtures.com/blog/post/2683/bitcoin-mining-...

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3 comments

londons_explore8y ago

Myanmar, Uzbekistan, Kuwait, and Ukraine have very low prices...

Is electricity subsidised in these places?

Why are miners moving to Iceland if it's 3x more expensive than these places?

(I'm ignoring Venezuela, since presumably the very low price is due to the stats not taking into account inflation correctly)

gaiaOP8y ago

Those countries have cheap (hydro for Myanmar and carbon for the rest) based energy sources, but are not stable politically nor economically.

Iceland has plenty of renewable energy and a stable economy. With renewable energy your cost is nearly all upfront with practically free energy from there on. It is suitable for long term investment.

gaiaOP8y ago

Source: https://www.elitefixtures.com/blog/post/2683/bitcoin-mining-...

j / k navigate · click thread line to collapse