Cointelegraph reported that according to a CoinGecko report, there are significant differences in the electricity bills of households mining Bitcoin (BTC) around the world. In Italy, it costs $208,500 to produce one Bitcoin, while in Lebanon it costs about 783 times as much. The report pointed out that based on household electricity costs alone, 65 countries around the world are profitable for independent Bitcoin miners, including 34 countries in Asia and only 5 in Europe. However, the cost of household electricity bills for independent Bitcoin miners is nowhere near the global average. Italy is the country with the highest cost of household bitcoin production, with the cost per bitcoin at $208,560.33, followed by Austria at $184,352.44 and Belgium at $172,381.50. Meanwhile, household electricity bills in Lebanon cost an individual miner just $266.02 to generate one Bitcoin, a figure that shows this cost is approximately 783 times cheaper than Italy’s $208,560.33.
