Mining 1 BTC in Lebanon is 783x cheaper than Italy: CoinGecko report

Solo Bitcoin miners find themselves at chances with the worldwide average of home electricity expenses:” The average home electricity expense to mine 1 Bitcoin is $46,291.24, which is 35% greater than the typical day-to-day price of 1 BTC in July 2023 ($ 30,090.08).” The report identified Italy as the costliest country for home Bitcoin mining at $208,560 per Bitcoin. Based on this data, this is approximately 783 times cheaper than the expense to mine a Bitcoin in Italy.Iran followed, with a production expense of $532 per Bitcoin.

Solo Bitcoin miners find themselves at chances with the worldwide average of family electricity expenses:” The average household electrical power expense to mine 1 Bitcoin is $46,291.24, which is 35% higher than the typical day-to-day rate of 1 BTC in July 2023 ($ 30,090.08).” The report determined Italy as the costliest country for family Bitcoin mining at $208,560 per Bitcoin. Based on this information, this is approximately 783 times more affordable than the expense to mine a Bitcoin in Italy.Iran followed, with a production expense of $532 per Bitcoin.

Nevertheless, CZ stayed skeptical and thinks there may be more factors to consider. He suggested its worth checking out even more:” The report most likely didnt consider expediency and other logistics. But if the information holds true, there definitely appears to be some prospective chances.” CZ acknowledged an X user who discussed that a lot of these nations do not have sufficient electrical energy for them to make the many of the inexpensive electricity costs.” Most of these nations are facing a shortage of electricity and usually shut off their heavy markets in the summer or during peak hours,” the X user stated.Magazine: SEC looks for appeal over Ripple, crypto rates plunge and EU debuts Bitcoin ETF: Hodlers Digest, Aug. 13-19