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Author: Admin | 2025-04-28
Very few people are willing to build up their own energy production, here’s a list of countried with the lowest electricity costs globally:5 Counties With the Lowest Electricity Costs for BTC MiningLibya – $0.009/kWhEthiopia – $0.010/kWhAngola – $0.011/kWhSyria – $0.016/kWhBhutan – $0.019/kWhThis is based on information from GlobalPetrolPrices study done on electricity costs for businesses in March 2024.Decrease Tax RateAnother variable that impacts the profitablity of your mining operation is taxes. You’ll be subject to tax in whichever country your mining operation takes place, and of course every country has its own tax regime and specifics. However, speaking in broad strokes, some countries’ regimes are more favourable than others when it comes to mining.The lowest income and capital gains taxes can be found in:Dubai – no income or capital gains taxQatar – no income tax on individuals, but 10% corporate. No capital gains tax.Saudi Arabia – no income tax and no capital gains tax under certain conditions.Although these countries are great for tax purposes, they may not be so great with electricity costs, so it’s up to you to find that optimal compromise between taxes, electricity costs and your own personal quality of life as well.Final Thoughts – Is Bitcoin Mining Worth It?All in all, Bitcoin mining is not as profitable as it once was, even though BTC is at its all time high. The Bitcoin network was designed to always have competition and make it harder for miners as time went on.Unless you’re ready to invest a significant amount of money into your new Bitcoin mining venture, it may not be the best idea.However, if you’re still keen on getting started with Bitcoin mining, then signing up on a cloud mining site is quite a forgiving first step for small-time miners.FAQHow much money can you earn from Bitcoin mining?The amount of money you earn from Bitcoin mining is directly proportional to the amount you’re ready to invest. The more you invest in good hardware and setup, the more you will earn. If you join a good mining pool, then you can rely on earning around 0.5% of a Bitcoin per month.How long does it take to mine 1 Bitcoin?In a nutshell, mining 1 block which gives 3.125 BTC as a reward takes around 10 minutes, so technically mining 1 BTC takes around 3 minutes. But it’s not like BTC can be mined 1 by 1, it is rewarded after a block is mined. As this question is a bit more complicated to answer, for a more detailed explanation read our separate article on how long does it take to mine bitcoin.Is it still worth it to mine Bitcoin?For the amount that needs to be invested, and even more halvings on the horizon, most would say that no, it’s not worth starting anymore. Unless BTC seriously increases in value of course.Can I mine Bitcoin for free?Technically yes, by dedicating your PC’s CPU with the right software. But the amount you will be mining is so minimal that you’ll be losing
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