The least favorable locations for Bitcoin mining

posted  20 Aug 2023
Photo - The least favorable locations for Bitcoin mining
Coingecko has just unveiled a report that details the countries where mining 1 BTC could be either a lucrative venture or a costly mistake.

For example, mining a Bitcoin in Lebanon would cost only $266 in electricity, while the same task in Italy would run a shocking $206,000, or 783 times more.

Out of the top 10 nations with the highest electricity costs, 9 are European.