Veneuzuela, the best option for cryptominers.
A Study made by the company "Elite Fixtures" about the prices of cryptomining in different countries around the world says that Venezuela is the best option for mining BTC because of the low price of the electricity in Venezuela, also, they said South Korea despite it's one of the countries with the highest quantity of trading, it's also the most expensive country for mining BTC.
To make this study, "Elite Fixtures" took the information contributed by governments and local companies as well, organizations such as International Energy Agency to know the price of the energy of each country.
To know the quantity of energy consumed, they made an average between three different mining equipments: The Antminer S7, the Antminer S9 and the Avalon 6. These equipments were chosen by the popularity given by the users.
In Venezuela, the price of mining one bitcoin is approximately 531$ (USD) to put this into perspective, the second cheapest country is Trinidad and Tobago where if you want to mine one btc it is necessary to invest $1.190 (USD) taking into account that the general price of one BTC is approximately $11.200 (USD) so per each bitcoin mined in Venezuela the person earn $11.200 (USD).
In South Korea, the amount of one bitcoin is $26.170, more than double of one BTC. So cryptomining in South Korea isn't a good option if you want to earn money with it.
Other important places of mining such as China, Russia and The U.S have a similar price, being cheaper in the first option (China) with a price of $3.162 (USD), Russia and The U.S have a price of $4.675(USD) and $4.760(USD) and in The U.S the cheapest State is Louisana, where mining one BTC costs $3.224 (USD), $1500 less than the general average of this nation.
Canada has a similar price, spicificly in Ontario, where the price of one BTC is $3965(USD) so if you invest you would earn $7.800 (USD) per btc.
It is important to remember that a few weeks ago Canada invited the miners to settle in their land and use the excess energy generated for mining. However, shortly afterwards, they announced that the nation could not cope with all the potential miners in the country.
