This idea that just plug in your computer or nowadays, specialized mining platforms in the Internet and do some of money from scratch is extremely attractive. However, this is obviously not as simple as it looks, and the mining sector has become very competitive and sophisticated.

Despite this, people who are interested in mining can still join and reduce their margins. there is the potential to make a decent profit. It all boils down to cheap resources, and in the case of mining, this resource is electricity. The disparity between the world's electricity prices means that the extraction of a bitcoin in a certain country can be much more profitable than doing the same thing on the other side of The Frontier

How It Calculates

Below shows a list of countries and the average cost in USD to operate a single bitcoin. This study, conducted by Elite Fixtures, was compiled using the consumption required to operate an average Bitcoin from three different mining platforms – AntMiner S7, AntMiner S9 and Avalon 6.

The study has obtained its electricity price data provided by the government of each country and local utility companies, as well as the International Energy Agency, IBTimes reports.

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Where to Cash

So with this data available, suddenly mining around the world begins to The best place to make a profit by extracting a single Bitcoin is in Venezuela, the process costing only about 530 $

With the current price of Bitcoin running around $ 10,000, this could result in a huge rate of return.South American Minors.The economic and political climate of the country, it does not have the same value. It is not surprising to see that many Venezuelans have benefited from mining.Not only is it relevant to mine the mines in Venezuela in peacetime, but the South Americans have used this cheap electricity in times of crisis, their own money e swelling to unnecessary proportions.

Where not to worry

Many countries of Western Europe (such as Germany and Denmark) are classified among the Most expensive places to try to get out Bitcoin from the ether. In fact, in the current climate, the extraction of a Bitcoin in one or the other of the aforementioned countries would eventually cost you $ 4,000

Mining Dispersion around the world also clearly follows the lines of cheap electricity University last year showed that the countries of the Far East, especially China, held the title of mining capital of the world .

Mining Superpowers

The power that China, and even Russia, the mining superpowers derive almost directly from the price of their electricity. China, according to the study, stands at $ 3,172 per piece, which still represents a current 70 percent yield. country, but this has recently been examined. The Chinese government is now trying to crack down on all facets of cryptocurrency, which forces them to take an interest in mining.

Russia, another superpower that enjoys relatively cheap electricity ($ 4,675 per Bitcoin) as well as government subsidies, may soon be under stricter regulation and control.

The Future of Mining

As electricity is one of the first expenses that will have to be taken into account when setting up Instead, it makes sense that large mining facilities consider the low-cost countries above as an attractive prospect. However, as Bitcoin continues to grow, regulators seek to target different sectors, including mining.

There may be other countries where electricity is more expensive, but regulations regarding mines and cryptocourses are much lighter. for example, Japan. There are also some mining basins and even country offices looking to build their businesses near green sources of renewable energy in an attempt to cut down on expenses and load not only on their portfolio, but also on the business. ;environment.