A major worldwide distinction exists in family electrical energy bills for particular person Bitcoin (BTC) miners. While producing one Bitcoin in Italy prices $208,560, in Lebanon, it’s roughly 783 occasions cheaper, based on a latest report.
Published on Aug. 17, the report from CoinGecko revealed that solely 65 international locations are worthwhile for solo Bitcoin miners, based mostly solely on family electrical energy prices. Among these, 34 international locations are in Asia, whereas Europe solely has 5.
However, solo Bitcoin miners discover themselves at odds with the worldwide common of family electrical energy prices:
(*1*) Zhao posted a screenshot of this report’s knowledge on X (previously Twitter), questioning his 8.6 million followers why people in these international locations with low electrical energy wouldn’t mine Bitcoin.
Why would not they? ♂️ pic.twitter.com/cD1TSgOZzx
— CZ Binance (@cz_binance) August 19, 2023
However, CZ remained skeptical and believes there is likely to be extra components to think about. Yet, he steered it’s price exploring additional:
“The report probably didn’t consider feasibility and other logistics. But if the data is true, there definitely seems to be some potential opportunities.”
CZ acknowledged an X person who defined that many of those international locations lack enough electrical energy for them to make the most of a budget electrical energy prices.
“Most of these countries are facing a shortage of electricity and usually turn off their heavy industries in the summer or during peak hours,” the X person said.