Cost to Mine 1 Bitcoin

Here’s a helpful chart for all prospective bitcoin miners about where you should set up your operations.

Bitcoin mining performs a crucial function within the blockchain, or the decentralized ledger technology that underpins all crryptocurrencies, by solving complex computational problems to validate transactions on the network, In exchange for this function, which powers the blockchain, miners are rewarded with bitcoins.

Mining is a very energy-intensive process; by one estimate, bitcoin requires 215 kilowatt-hours of energy for each transaction.

Mining becomes a magnitude more difficult and energy-draining the closer miners get the 21 million maximum number of bitcoin that will ever exist, a level that is calculated to be reached in 2140. Presently, the number of bitcoins in existence is roughly about 16.8 million since the first block of bitcoin was mined March 2009.

We hope this helps you in your pursuit of finding the right area for your bitcoin mining facility. Happy mining!