Bitcoin Mining Costs Study Shows Havens Around The World

A study was conducted recently by EliteFixtures, (a US-based electric company) to determine the real costs of mining a bitcoin in every country of the world, according to this source. The objective of the study was to determine in which countries mining profitability was higher for incumbent mining operations.
The study used the most popular ASIC miners (from Bitmain) and found some interesting results: there are places where mining, even with highly efficient ASIC miners, is not profitable. Places like South Korea, Germany, Marshall Islands have costs that are higher than the market price of the coin. On the other hand, places like Trinidad and Tobago, and Venezuela (with subsidized power) are havens for mining operations due to the low cost of the power to mine.
This study only considers official costs for mining. Obviously, there are other factors to review like political factors and infrastructure cost. But it paints a pretty clear picture of the landscape of the mining profitability around the world for companies planning to start a mining operation.

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