TechFlow reports, according to a report released on August 17, electricity costs for household Bitcoin mining vary significantly across countries globally.
The report指出 that in Italy, the electricity cost to mine one Bitcoin reaches $208,500, while in Libya, it is merely 1/783 of that amount.
The report finds that only 65 countries worldwide allow profitable household mining, with 34 located in Asia and just five in Europe.
Compared to the global average household electricity price, individual mining operators are at a disadvantage. The report states that, on average, it costs $46,291.24 in household electricity globally to mine one Bitcoin—35% higher than the average Bitcoin price of $30,090.08 in July 2023.
Italy ranks as the most expensive country for Bitcoin mining globally, with an estimated cost of $208,600 per Bitcoin. Austria and Belgium follow with $184,000 and $172,000 respectively. In contrast, Libya's household electricity cost allows mining one Bitcoin for just $266.02—1/783 the cost in Italy.
Although Iran legalized Bitcoin mining in 2019, it has repeatedly banned legal mining operations during winter months when power grid loads become excessive.
