The rating of the most profitable countries for mining

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 a Bitcoin are cheaper.

For the calculation, the average electricity 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 by spending 3,274 dollars, and China, where the cost of extracting a popular "coin" is
3172 dollars.

The United States took only 41 place 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 fortunate in this respect is the island states of the Pacific and the Caribbean – here, naming one Bitcoin, will have to lay out more than ten thousand dollars to local power companies. Leading in the ranking of the most expensive countries for mining South Korea – where the extraction of one Bitcoin costs 26,170 dollars.

In Russia it is quite comfortable for cannling. At least no worse than in the US and Sweden. Judging by the calculations, the average price for the extraction of one Bitcoin in the country does not exceed 4,700 dollars, which is not so bad at the current rate.

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