With an average of $12,203 in electricity costs per Bitcoin, the island-dotted region of Oceania is the most expensive area on the globe for mining, followed by South America at $7,150, Europe at $6,695, Asia at $6,378, the Middle East at $6,249, and North America at $5,456. Africa is the cheapest region for mining, costing an average of $4,626 in electricity per BTC.
In the energy-rich countries of the Middle East and Africa, crypto users can mine Dogecoin for less than a nickel. Bitcoin miners migrating from state to state consider several factors when deciding on a location to set up operations, including the regulatory environment, electricity prices, and the overall cost to mine cryptocurrency.
Here are the 10 cheapest & most expensive African countries to mine bitcoin, according to 911 Metallurgist.
Most expensive African countries to mine one bitcoin
- Somalia – $82,044.16
- Liberia – $77,663.16
- Seychelles – $63,922.75
- Comoros – $55,957.30
- Cape Verde – $52,372.85
- Djibouti – $52,173.71
- Burkina Faso – $47,394.44
- Ghana – $46,996.17
- Eritrea – $43,610.85
- Kenya – $43,212.58
Cheapest African countries to mine one bitcoin
- Algeria – $4,181.86
- Sudan – $4,779.27
- Ethiopia – $7,168.91
- Angola – $7,368.04
- Zambia – $9,160.27
- Tunisia – $15,333.50
- Mozambique – $19,117.08
- Egypt – $19,316.22
- Congo (Democratic Republic Of The) – $19,913.63
- Nigeria – $22,303.27
Source: Venture Capitalist
