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Chart of the Day: The Cost to Mine 1 Bitcoin
Mining fever has swept the world. People buy up video cards and mining farms to start producing Bitcoins and other cryptocurrencies on their own. But the profitability of mining is highly dependent on electricity tariffs.
Venezuela is the cheapest place in the world to mine Bitcoin (Bitcoin), the process costing only about $531. The second-cheapest country in the list is Trinidad and Tobago, where it costs $1,190. Uzbekistan is on third place, with a significantly higher cost at almost $1,788 to mine a single Bitcoin.

On the other hand, the most expensive country in the world for mining Bitcoin is South Korea, where it costs a whopping $26,170. That is more than twice the present-day price of a Bitcoin. To compare, mining of 1 Bitcoin will cost $4,675 in Russia.

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