Venezuela is a country where, according to Elite Fixtures, it is most profitable to mine Bitcoins. The company estimated electricity rates in 115 countries, which it took from government sources, energy companies and the International Energy Agency, and the needs of the three main types of mining farms. As a result, analysts came to the conclusion that the production of one Bitcoin in Venezuela will be cheaper than all in the world – at $ 531.
The top five “convenient” countries for mining also included Trinidad and Tobago ($ 1190), Uzbekistan ($ 1788), Ukraine ($ 1852), Myanmar and Kuwait ($ 1983). They are followed by Belarus ($ 2177), Bangladesh ($ 2379), Kazakhstan ($ 2835), Ethiopia ($ 2855) and Suriname ($ 2956). The list also includes Egypt ($ 3,172), Kosovo and Serbia ($ 3,133), Paraguay ($ 3,140) and Saudi Arabia ($ 3,172).
At the same time, the most expensive countries for bitcoin miners were South Korea ($ 26,170), Niue ($ 17566) and Solomon Islands ($ 16,209). They are followed by Bahrain ($ 16,773), Cook Islands ($ 15,861), Tuvalu ($ 14,493), Marshall Islands ($ 14,751), Tonga ($ 14,475), Germany and Denmark ($ 14,275), Turks and Caicos ($ 1,403), Belgium ($ 13,482), Vanuatu ($ 13085) and Kiribati ($ 12,966).