The place you live in the world affects the profitability of your mining process, according to the world electricity price analysis conducted by Elite Fixture. The "Bitcoinist" website reviewed the data and energy costs of one Bitcoin in mining worldwide.
Electricity = Bitcoin
Energy prices around the world vary depending on a range of factors, including government subsidies and access to natural resources. These same factors affect the cost of running good-energy computers, known as the Betquin, which can solve and solve very complex computational problems to gain bitcoin.
One of the most efficient metals, the Bitmain Antminer S9, consumes a total of 1,350 watts while working. This is equivalent to the amount of energy consumed by a hair dryer in the maximum power it works. With an average of $ 12,203 per electrical charge per 1 Pitcuin, Oceania is the world's most expensive mining region, followed by South America at $ 7,150, Europe at $ 6,695 and Asia at $ 6,378, and the Middle East at $ 6,249. Next comes North America at a cost of $ 5,545. While Africa is the least expensive region for mining, with an average cost of $ 4,626 per liter of electricity.
The average cost of coal mining for one country in all countries is $ 7,295. But electricity costs in Canada and the United States are falling below $ 2,000 below average. With the possibility of earning one of the Betquin at a price of over $ 10,000 at market prices today, this justifies high electricity bills. It is important to note that the study surveyed only 111 of the 195 countries on the surface of our planet.
On the other hand, South Korea is the country with the highest cost of energy for the Betquin mining of 26,170 dollars for each of the Bitcoinin. "Bloomberg" reported last year that high electricity prices in the country, due to tariffs, leave many families pay more than factories for energy. While Venezuela, on the other hand, is known as one of the cheapest countries to harvest the Betquin at a cost of only $ 531 per bitcoin . The South American Socialist State was the only country to drop in three digits, partly due to heavily subsidized electricity prices.
Will the people get electricity at lower prices?
The energy prices involved in the mining of the Bitcoin have always been a major obstacle to the minerals. Some miners have reduced costs by switching to renewable energy technologies such as solar panels. Moonlite.io is one of the companies looking to launch a fully renewable mining process. In addition, the chairman of the New York Energy Authority talked about securing less expensive electricity for the Bitcoin mining.