Bitcoin Mining Costs Vary Widely Across Countries
Electricity consumption and Bitcoin issuance data reveal significant disparities
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Cambridge University's analysis of electricity consumption and daily Bitcoin issuance data indicates that the costs of mining Bitcoin vary substantially across countries. The average cost of mining Bitcoin in the 198 countries included in the dataset stood at approximately 8,402 U.S. dollars. However, there are significant variations, with countries such as the United States and the United Kingdom having higher costs (4,758 and 8,402 U.S. dollars, respectively), while China, a major cryptocurrency mining hub, had a lower cost of 3,172 U.S. dollars.
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