While the price of Bitcoin has plunged over 80% from it’s peak in late 2017, Bitcoin’s total energy usage has dropped less than 40%. Nevertheless, as the map above shows, there are surprisingly still 10 countries where it may still be profitable to mine Bitcoin from home (although with some pretty major caveats).
The map above is an update on last year’s look at Bitcoin electricity consumption. Currently, only 38 countries definitely consume more electricity than total Bitcoin mining.
The map above is a world map only showing countries who’s annual average electricity consumption per person is less than that used to perform 1 Bitcoin Transaction (819 KWh according to the Bitcoin Energy Consumption Index).
The map above shows a very rough estimate of the current electricity costs of mining one Bitcoin by country around the world. 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 map above shows which countries consume less electricity than the amount consumed by global bitcoin mining. You can see an update for late 2018 here Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst. However, […]