The Map Above Shows Concentration Of Reachable Bitcoin Nodes Found In Countries Around The World.
The country with the highest energy costs for bitcoin mining is south korea at $26,170 per btc. The maps shows the global bitcoin hashrate distribution per country and region (in china) giving us a good helicopter view of where the bitcoin mining hotspots in the world are located. The map above shows a very rough estimate of the current electricity costs of mining one bitcoin by country around the world.
Average Monthly Hashrate Share By Country And Region For The Selected Period, Based On Geolocational Mining Pool Data.
This region is rich in natural resources and a vast hydroelectric potential to power the computers used in the exploitation of bitcoin. The process involves using computer power to solve complex mathematical puzzles. For context, the us has over 120,000 people.
Based On Our Research, Kuwait Is The Cheapest Country In The World To Mine Bitcoins While The Solomon Islands Would Be The Most Expensive.
The iranian bitcoin mining industry accounts for between 4.5% and 7% of the global total bitcoin hash rate. Russia is one of the friendly countries for bitcoin miners. It mines the world’s 7% of the total mined bitcoins.
In November Last Year We Reported That Bitcoin Mining Now.
China’s global share of bitcoin transactions drops to 10 per cent after cryptocurrency crackdown. The next big news came from brazil. In addition, bitcoin atms are again widespread in latin october countries.
The Cheapest Country For Mining Is Venezuela At Just $531 Per Btc.
These are the world’s largest bitcoin mining countries (by average monthly hash rate share) as of october 2021, according to the cambridge university center for alternative finance. A team of researchers from the netherlands, switzerland and germany has found that as bitcoin miners have moved from china to the u.s. The country ranks third globally in bitcoin mining with 11.23%, according to the ccaf.