Report Shows Significant Worldwide Contrast in Household Electricity Expenses for Bitcoin Miners
2023/08/20 01:45
A recent report by CoinGecko has shown that there is a significant contrast in household electricity expenses for individual Bitcoin miners worldwide. The report revealed that only 65 countries are profitable for solo Bitcoin miners based solely on household electricity costs, with 34 of these countries being in Asia and only five in Europe. The average household electricity cost to mine one Bitcoin is $46,291.24, which is 35% higher than the average daily price of 1 BTC in July 2023. However, Lebanon's household electricity rates allow individual miners to generate one Bitcoin for just $266.02, making it approximately 783 times cheaper than the cost to mine a Bitcoin in Italy.
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