Which Country Is the ”Cheapest” for Bitcoin Mining?

The Elite Fixtures company analyzed the cost of electricity across the world and determined the cost of mining the world’s first cryptocurrency (no taxes included) in 115 countries. For that, the researchers considered the productivity of ASIC miners such as AntMiner S7, AntMiner S9, and Avalon 6. Below is the list of top 15 countries where Bitcoin mining is cheapest:

1. Venezuela—$531
2. Trinidad and Tobago—$1,190
3. Uzbekistan—$1,788
4. Ukraine—$1,852
5. Kuwait—$1,983
6. Belarus—$2,177
7. Bangladesh—$2,379
8. Kazakhstan—$2,835
9. Ethiopia—$2,855
10. Suriname—$2,956
11. Serbia—$3,133
12. Paraguay—$3,140
13. China, Egypt—$3,172
14. Iran—$3,217
15. Georgia—$3,316