Global Bitcoin Mining Costs: From Iran’s $1,300 to Ireland’s $320,000 per BTC

A recent report reveals stark differences in Bitcoin mining costs across countries. In nations like Iran, mining 1 BTC costs as little as $1,300, while in Ireland, it exceeds $320,000. Key factors include local energy prices and fossil fuel availability.

A new research study published by NFT Evening has shed light on the varying costs of mining Bitcoin across the globe. The study analyzes nearly every country, estimating the average cost to mine 1 BTC in each region. The findings underscore the vast differences in electricity prices, local energy production, and consumption that make mining profitable in some areas and unsustainable in others.

Lowest Costs for Bitcoin Mining

The research highlights several countries with remarkably low Bitcoin mining costs, many of which are oil-rich nations. Iran boasts the lowest cost at just $1,300 per BTC, despite having suspended crypto mining operations to prioritize energy for civilian use. Other affordable countries include Libya ($5,300), Nigeria ($9,200), and Russia ($39,700). In these regions, access to abundant fossil fuels plays a significant role in keeping mining costs down.

Africa and Asia: Bitcoin Mining Hubs

In Africa, low electricity consumption combined with fossil fuel extraction contributes to cheaper mining costs in countries like Ethiopia ($2,000) and Angola ($8,600). Asian countries like Kazakhstan ($32,400) and Malaysia also stand out for their affordability, while China’s average domestic cost is about $50,000—barely profitable but with opportunities for industrial-scale mining.

High-Cost Regions

On the other end of the spectrum, Europe and Oceania face prohibitively high Bitcoin mining costs. Ireland tops the list with a staggering $320,000 per BTC, followed by Belgium ($280,000) and the United Kingdom ($271,000). In Australia, mining costs exceed $180,000.

In the Americas, there are only five countries with costs below $50,000, with the United States seeing vast regional differences. While the national average surpasses $100,000, states like Texas offer much more favorable conditions for industrial miners, thanks to cheaper electricity and local production sources.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)