Tag: bitcoin

How Much Electricity Does It Take to Mine 1 Bitcoin in 2024? [Post-Halving Global Comparison]

⚡ 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

CountryElectricity 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

CountryElectricity 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.

Margin Quiz Answer Key – Binance Pop Up Quiz

Here’s the Margin Quiz Answer Key. PS: * = Answer

  1. Binance Margin includes cross margin and isolated margin. Which one of the following sentences does not describe their difference?
    In isolated margin, borrowing, trading, and risk management functions are included in an independent isolated margin account, while in cross margin, each user can only open one cross margin account where borrowing, trading, and risk management functions are available.
    *They have different interest rates
    They have different maximum leverage ratio
    They support different borrowables
  2. Margin level is used to evaluate the risk level of your margin account. How is margin level calculated?
    *Margin level = total assets value/(total borrowed value + total accrued interest value)
    margin level = total assets value/(total borrowed value – total accrued interest value)
    margin level = total borrowed value/ total accrued interest value
  3. Which one of the following events will force you to liquidate ?
    *The margin level has reached the liquidation level
    The current margin level has reached the initial margin level
    The total debt is lower than the total interest
  4. How often is margin interest calculated?
    *Hourly, at the time of borrowing
    Daily
    Monthly
  5. Do you need to borrow manually before trading?
    Yes
    *No, you can use the “auto borrow” function on the trading page.
  6. Which one of the following factors does not affect your maximum borrowing limit?
    *The borrowing period
    The amount of fund in your margin account
    Your VIP level
    The system borrowing limit
    Your individual borrowing limit
  7. Which one of the following sentences is correct regarding your borrowing interest rate?
    *The borrowing interest rate will change with the market, and the system will notify you when it changes
    The borrowing interest rate will be determined at the time of borrowing, no changes afterward
  8. In the event of liquidation, how to repay your debts?
    *Binance insurance funds will write off your debts
    You are required to repay the debts yourself
  9. How to pay the interest fee with BNB in cross margin
    *Transfer BNB to cross margin account and repay manually
    Repay with the loan
  10. When you receive a margin call notification, what should you do?
    Borrow more funds to hedge the risk
    *Reduce your position to repay the debt or add more collateral into the margin account
    Do nothing
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