According to CoinGecko, the average electricity bill for a household that mines 1 BTC is $46,291.24, which is 35% higher than the average daily electricity price of 1 BTC of $30,090.08 in July 2023.
The average household electricity cost in Europe is the highest, estimated at $85,767.84. Independent miners in the Asian region have the lowest average cost at $20,635.62 to mine 1 BTC.
This region is the only one where average household electricity costs make mining profitable for independent miners.
The gap between Lebanon’s low electricity tariff of US$266.20 and Japan’s high electricity tariff of US$64,111.02 highlights the disparity in electricity tariffs in the region.
The top 10 most profitable countries for Bitcoin BTC -0.57% mining are mainly located in Asia and Africa due to low household electricity costs: 1. Lebanon, 2. Iran, 3. Syria, 4. Ethiopia, 5. Sudan, 6. Libya, 7. Kyrgyzstan, 8. Angola, 9. Zimbabwe, 10. Bhutan.
