Research indicates that mining one Bitcoin in Iran costs around $1,300 in electricity and operational expenses, compared to a staggering $102,260 in the United States.
In fact, most developed nations like those in Europe, the U.S., and Australia fall into the unprofitable category. For example, Italy tops the list at $306,550 per BTC, followed by Austria ($277,000), the Bahamas ($280,000), and Switzerland ($236,000). Even in the U.S., the average mining cost per Bitcoin sits near $102,260, based on household electricity rates multiplied by energy consumption.
This is why miners often migrate toward regions with cheaper electricity. It also highlights Bitcoin’s vulnerability as an economic tool—since high electricity costs essentially push Europe and other first-world nations out of the mining competition, while developing countries with subsidized or low-cost power dominate the field.
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