Mining 1 BTC in Lebanon is 783x cheaper than Italy: CoinGecko
” CZ acknowledged an X user who discussed that numerous of these nations do not have adequate electrical power for them to make the most of the low-cost electrical energy expenses.” Most of these nations are facing a scarcity of electrical energy and usually turn off their heavy markets in the summertime or throughout peak hours” the X user stated.Magazine: SEC seeks appeal over Ripple, crypto rates plunge and EU debuts Bitcoin ETF: Hodlers Digest, Aug. 13-19
While producing one Bitcoin in Italy costs $208,500, in Lebanon, its approximately 783 times less expensive, according to a current report.Published on Aug. 17, CoinGeckos report revealed that just 65 countries are lucrative for solo Bitcoin miners, based exclusively on family electrical power costs.” The typical family electrical power expense to mine one Bitcoin is $46,291.24, which is 35% higher than the typical daily price of 1 BTC in July 2023 ($ 30,090.08),” the report stated.The report recognized Italy as the costliest nation for family Bitcoin mining at $208,560.33 per Bitcoin. As of the time of publication, this indicates that the cost of mining one Bitcoin in Italy is the equivalent to the value of around 8 Bitcoins.This was followed by Austria at $184,352.44 and Belgium at $172,381.50.
While producing one Bitcoin in Italy costs $208,500, in Lebanon, its roughly 783 times less expensive, according to a recent report.Published on Aug. 17, CoinGeckos report revealed that just 65 nations are profitable for solo Bitcoin miners, based solely on household electrical energy expenses.” The typical household electrical power expense to mine one Bitcoin is $46,291.24, which is 35% higher than the typical daily rate of 1 BTC in July 2023 ($ 30,090.08),” the report stated.The report recognized Italy as the costliest country for family Bitcoin mining at $208,560.33 per Bitcoin. As of the time of publication, this shows that the cost of mining one Bitcoin in Italy is the comparable to the worth of roughly 8 Bitcoins.This was followed by Austria at $184,352.44 and Belgium at $172,381.50.