- It costs an average of $4,626
in electricity to mine 1 BTC in Africa.
- The least expensive African
country to mine cryptocurrencies overall is Algeria. However, the most
expensive African country for crypto mining is Somalia.
In the world of
cryptocurrency, the price of electricity can be the difference between profit
and loss. As most individual crypto players are priced out of the industry,
miners are looking to countries with cheap electricity to set up operations.
With an average of
$12,203 in electricity costs per Bitcoin, the island-dotted region of Oceania
is the most expensive area on the globe for mining, followed by South America
at $7,150, Europe at $6,695, Asia at $6,378, the Middle East at $6,249, and
North America at $5,456. Africa is the cheapest region for mining, costing an
average of $4,626 in electricity per BTC.
In the energy-rich
countries of the Middle East and Africa, crypto users can mine Dogecoin for
less than a nickel. Bitcoin miners migrating from state to state consider
several factors when deciding on a location to set up operations, including the
regulatory environment, electricity prices, and the overall cost to mine
cryptocurrency.
Here are the 10
cheapest & most expensive African countries to mine bitcoin, according
to 911 Metallurgist.
Most expensive African
countries to mine one bitcoin
- Somalia - $82,044.16
- Liberia - $77,663.16
- Seychelles - $63,922.75
- Comoros - $55,957.30
- Cape Verde - $52,372.85
- Djibouti - $52,173.71
- Burkina Faso - $47,394.44
- Ghana - $46,996.17
- Eritrea - $43,610.85
- Kenya - $43,212.58
Cheapest African
countries to mine one bitcoin
- Algeria - $4,181.86
- Sudan - $4,779.27
- Ethiopia - $7,168.91
- Angola - $7,368.04
- Zambia - $9,160.27
- Tunisia - $15,333.50
- Mozambique - $19,117.08
- Egypt - $19,316.22
- Congo (Democratic Republic Of
The) - $19,913.63
- Nigeria - $22,303.27
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Source: Venture
Capitalist