The Cost to Mine Different Cryptocurrencies In Every Country

The Cost to Mine Different Cryptocurrencies In Every Country

Header Cost to Mine Cryptocurrencies

In June 2021, the People’s Bank of China officially banned all cryptocurrency mining, citing fears over pollution associated with energy use and the increased economic risk associated with speculative assets. China joins eight other countries – Egypt, Iraq, Qatar, Oman, Morocco, Algeria, Tunisia, and Bangladesh – who have banned all cryptocurrency.

Since the ban, crypto players have spread around the globe looking for new places to set up mining operations. Many fled to neighboring Kazakhstan – which has the 10th least expensive electricity of any country – causing the global share of all Bitcoins mined in the country to rise from 8.8% in May 2021 to 18.1% in July 2021. Many also fled to Texas, where abundant natural gas and a deregulated power grid provide some of the cheapest electricity in the world.

As the “great mining migration” continues, mining experts at 911 Metallurgist decided to find the cheapest and most expensive countries for mining cryptocurrency. To determine the cost to mine different cryptocurrencies around the world, we calculated the electricity requirements and cost of electricity for mining Bitcoin, Ethereum, and Dogecoin in 200 countries and all 50 states.

The Cost and Profitability of Mining Crypto Around the World 

The level of interest in cryptocurrencies varies greatly across the world. Demand helps to determine how much the coin itself is worth. That, and the ever-growing network of miners and users. From extracting Dogecoin for less than a nickel to splurging more than $1,000 on one Ethereum coin, which countries get the most crypto for their cash?

Filter the results in the table below to uncover the cost VS profitability of mining Bitcoin, Ethereum, and Dogecoin in 200 countries and all 50 states. Profitability is calculated using live crypto values from Live Coin Watch.

The Cost to Mine One Bitcoin In Every Country & U.S. State

As the electricity requirements for mining Bitcoin rise and more countries close their doors to cryptocurrency production, knowing the cost of mining Bitcoin around the world becomes more important than ever. The map below shows the cost of mining one Bitcoin in every country.

As exiled Bitcoin miners seek new homes to establish crypto mining operations, many of the countries with the lowest mining costs have become overwhelmed. In Kosovo, for example – where coal plants provide the 16th lowest electricity prices of any country – increased electricity demand associated with Bitcoin mining has led to multiple power outages at coal plants. In response, the country imposed a ban on Bitcoin mining. Similarly, Iran– home to the 14th lowest electricity prices in the world – imposed a temporary ban on Bitcoin mining after multiple cities suffered rolling blackouts. 

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. Keep reading to find out the cost to mine one Bitcoin in every state.

The cost of mining Bitcoin varies heavily across the United States, causing certain states with cheap electricity – Texas, Oklahoma, and Kentucky – to emerge as major crypto hubs. But while the cost to mine Bitcoin in Georgia is roughly in line with the national average, the Peach State has emerged as the primary hub for crypto mining within the United States. 

According to estimates by cryptocurrency company Foundry, Georgia accounts for 34.2% of all Bitcoin mining activity in the country, by far the largest share of any state. The outsized mining activity is due to abundant nuclear and solar power as well as a crypto-friendly regulatory environment. 

The Cost to Mine One Ethereum Coin In Every Country & U.S. State

Ethereum is one of the most volatile cryptocurrencies and is set to undergo upgrades in the near future that may increase the value of the coin but reduce the profitability of mining it. With an uncertain future, it is important to be aware of the costs associated with Ethereum around the world. Read on to discover how the cost to mine one Ethereum coin compares in every country.

Many of the countries with the cheapest electricity have become major hubs for Ethereum mining operations. For example, Singapore – which has the 17th cheapest electricity of any country – has emerged as one of the global centers for Ethereum production. While Singapore is home to less than 0.1% of the world population, it currently hosts 4.6% of the global Ethereum production, the largest share of any country after the United States and Germany. 

But with one of the largest shares of production as a country, how does this affect the cost of mining one Ethereum coin by state?

Electricity prices fluctuate heavily across the U.S., resulting in a wide array of costs associated with mining cryptocurrency. A crypto miner generating one coin of Ethereum, for example, will spend more than three times as much in Hawaii as they would in Louisiana, where abundant natural gas resources provide the cheapest electricity in the country.

The Cost to Mine One Dogecoin In Every Country & U.S. State

While Dogecoin started as a joke, the coin was quickly adopted by the mainstream and is currently the 11th largest cryptocurrency by market cap. Dogecoin also has one of the smaller profit margins of any mined coin, making the costs of mining around the world an important piece of information for any crypto player. Read on to discover the cost of mining one Dogecoin in every country.

Many of the cheapest countries for mining Dogecoin are resource-rich countries in the Middle East and Africa. Kuwait, for example, has an estimated 101.5 billion barrels of oil reserves, the fourth most of any country. As a result, the cost of mining one Dogecoin in the Middle Eastern country is less than one penny, the least of any country worldwide. Low electricity prices have attracted large numbers of Dogecoin miners to the area and helped establish Kuwait as a cryptocurrency hub, prompting the Central Bank of Kuwait to issue a statement on the industry in May 2021 encouraging responsible business practices.

Wondering which state has the highest cost to mine one Dogecoin? Check out our findings displayed in the map below.

The original “meme coin,” Dogecoin, is subject to wild fluctuations in price, often doubling or halving in value in reaction to an Elon Musk tweet. In an environment of such high volatility, small state-to-state differences in the price of electricity can result in huge differences in profit. At its current price, Dogecoin is unprofitable to mine in Vermont, New Hampshire, California, Massachusetts, Rhode Island, Connecticut, and Alaska.

The Most and Least Expensive Countries to Mine Crypto

As crypto refugees leave China in search of greener pastures, the cost of mining cryptocurrency may be the difference between profit and loss for miners, and the difference between a booming new industry and a missed opportunity for national economies. 

Many of the most expensive countries for mining crypto are small, isolated countries with no natural resources and are unlikely to attract any crypto entrepreneurs. Meanwhile, the least expensive countries to mine crypto are resource-rich nations in the Middle East and Africa, drawing thousands of crypto miners with their cheap electricity. But as increased mining activity puts a strain on their energy supply, many new cryptocurrency hubs are having to decide whether they want to facilitate the growing crypto industry or ban it altogether. 

Despite the current high costs, mining still looks to be a profitable venture in every country. The future of cryptocurrency remains uncertain, but it seems that the true value lies in the eye of the investor: crypto either holds limitless potential or poses a great risk.


We calculated the cost of mining Bitcoin, Ethereum, and Dogecoin using data on the cost of electricity per kilowatt-hour from the World Bank,, and the U.S. Energy Information Administration. The data on the number of days and wattage required to mine each coin with a mid-range miner for each cryptocurrency was taken from Coinwarz. Profitability is calculated using live crypto values from Live Coin Watch.


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