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⚡ The 2024 Bitcoin Mining Electricity Costs Around the World (Post-Halving)
A new global map by NFT Evening illustrates how much it costs in electricity alone to mine 1 Bitcoin post-2024 halving, and the numbers are jaw-dropping.
This halving event not only reduced rewards from 6.25 BTC to 3.125 BTC but also significantly shifted the economics of mining. Electricity cost now plays a more critical role than ever.
🌍 Top 10 Cheapest Countries to Mine 1 BTC
| Country | Electricity Cost |
|---|---|
| Iran | $1,328 |
| Libya | $5,294 |
| Ethiopia | $1,996 |
| Sudan | $3,970 |
| Syria | $3,970 |
| Cuba | $3,970 |
| Bhutan | $9,930 |
| Uzbekistan | $15,230 |
| Kyrgyzstan | $8,610 |
| Argentina | $12,580 |
🔋 These countries benefit from state subsidies, low energy demand, or abundant hydro resources.
🔥 Most Expensive Countries to Mine 1 BTC
| Country | Electricity Cost |
|---|---|
| Italy | $306,550 |
| Bahamas | $280,720 |
| Germany | $269,470 |
| Cayman Islands | $268,810 |
| UK | $271,460 |
| Belgium | $280,060 |
| Ireland | $321,110 |
| Netherlands | $212,530 |
| Switzerland | $236,370 |
| France | $190,020 |
🚫 European nations top the list — due to high taxes, grid congestion, and green energy transitions.
💡 What Does This Mean for Miners in 2024?
- Miners will migrate to cheaper energy markets like the Middle East, parts of Africa, or Latin America.
- Countries with energy subsidies (like Iran and Argentina) may see surging mining activity — if regulation allows it.
- In high-cost areas, only the most efficient operations will survive.
🛑 Banned or Restricted Countries
Countries like China, Nepal, and Morocco have outright banned crypto mining, regardless of electricity rates.
📌 Final Thoughts
As mining rewards shrink and energy costs rise, the future of Bitcoin mining depends heavily on geopolitics, infrastructure, and sustainability. If you’re a miner or investor, this global energy cost map is a must-watch metric.