Where Is the Cheapest Country in the World To Mine Bitcoin?

Who would believe a country that has been in an economic, political, and social crisis during the last 20 years will be the best place to mine $Bitcoin(BTC.CC)$ ?

Venezuela is the cheapest country to mine 1 Bitcoin. It only costs $531 because of its subsidized electricity, and South Korea is the most expensive country in $Bitcoin(BTC.CC)$ mining with a total of $26,170 to mine 1 BTC, according to a study of Bitcoinist which took the data from a research in global electricity prices by Elite Fixtures.

The research was conducted in 111 of the 195 of all countries in the world, other countries like Trinidad and Tobago, Ukraine, Myanmar, and Kuwait followed Venezuela in cheapest countries, having electricity costs between $1,000 and $2,000 per $Bitcoin(BTC.CC)$ .

Right now the $Bitcoin(BTC.CC)$ network is not congested having daily transaction fees between $300k and $600k, meanwhile Bitcoin’s price appears to be consolidating between $44,000 and $40,000 over the last couple of days, being $40,000 its support right now, let’s hope in 2022 Bitcoin’s performances will be as positive as 2021.