Comment
Author: Admin | 2025-04-28
According to CoinGecko research, Italy stands out as the most expensive country, requiring an electricity cost of almost $210,000 to mine one BTC.Various factors such as the increase in global electricity prices after the COVID-19 pandemic and the crisis caused by the military conflict between Russia and Ukraine could be attributed to the high energy costs in Europe.Lebanon appears to be an excellent option for crypto miners as it requires only $266 to mine a single Bitcoin.Which countries are expensive for Bitcoin mining? Which countries are cheap? The cost of mining in Italy is huge!Expensive Bitcoin Mining CountriesAccording to CoinGecko research, Italy is at the forefront as the most expensive country, requiring an electricity cost of almost $210,000 to mine one BTC. Other European countries like Austria, Belgium, Denmark, and Germany closely follow as less profitable regions.Interestingly, out of the 147 countries analyzed by CoinGecko, only 62 are profitable for Bitcoin mining. Despite its economic problems, Lebanon stands out as the cheapest destination for such activities.When Bitcoin miners decide to join the ecosystem, factors like electricity cost, equipment quality, and network mining difficulty play a crucial role.Crypto data aggregator CoinGecko has revealed that the average household electricity cost to mine one Bitcoin is $46,291. This is nearly double the current price of the leading digital asset (around $26,000 at the time of writing).However, there are regions where the costs for BTC mining are significantly higher. Italy ranks at the top with an electricity cost of $208,560 to mine one Bitcoin. Austria, Belgium, Germany, the Netherlands, the UK, and other European countries follow from second to ninth place. The Cayman Islands, the only non-European country in the top 10, is an exception.CoinGecko points out that the high energy costs in Europe could be attributed to various reasons such as the increase in global electricity prices after the COVID-19 pandemic and the crisis caused by the military conflict between Russia and Ukraine.Cheapest Countries for Bitcoin MiningResearch suggests significant differences in electricity costs across continents. For instance, the average household energy price to mine one BTC is estimated at $85,767 in Europe, while
Add Comment