TIRANA, December 26
In early November, the Guardian reported that the amount of energy required to “mine” one dollar’s worth of bitcoin was more than twice that required to mine the same value of copper, gold or platinum. Yet, what’s the cost for mining one bitcoin in Albania. Mineable.com drafted a list of bitcoin mining cost per each country. The list is based on various factors, yet the most important seems to be the price of electricity. Therefore, the cost to mine one BTC in Albania is about $3,894. This is higher than the value of on BTC, which on Wednesday was $3,722.
The electricity price in Albania is Lek 9.5 per kWh for the first 300 kWh. The country with the lowest cost for one BTC mining is Venezuela $531. Yet the country is not too friendly to miners.
In the meantime, Albania ranks among China, Canada, Bangladesh, Egypt, Ethiopia, and India. “All these are pretty close to breakeven at around $3000-$3500. Not the worst deal in the world when you consider the outliers,”mineable.com says.
News Source: minable.com