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.

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Binancian Partners,

Binance has linked trading fee commissions for the Spot and Futures referral program on 2020/05/11 4:00 PM (UTC).

For each new user who successfully refers to Binance, the referrer will receive a commission on the fee whenever the new referred user trades on one of Binance’s spot or futures markets. This means you can now freely invite users via spot referral link or futures referral link and receive commission from both.

Example A:

User A invites User B via the Spot referral link. User A now receives a referral commission on User B’s trading fees whenever they trade on any of Binance’s spot or futures markets.

Example B:

User A invites User B via the Futures referral link. User A now receives referral commission on User B’s trading fees whenever they trade on any of Binance’s spot, margin or futures markets.

Commission rates and kickbacks / discounts set for each are as follows:

Point:

If an inviteer’s daily average BNB account balance is less than 500 BNB and their base reference rate is 20%, they can choose to share 0%, 5% or 10% with the friends they invite.
If an inviteer’s daily average BNB account balance is 500 BNB or more, their basic referral rate increases to 40%, and they can choose to share 0%, 5%, 10%, 15%, or 20% with the friends they invite .
The spot affiliate base referral rate is increased to 41-50%, and they can choose to share 0%, 5%, 10%, 15% or 20% with the friends they invite.
The spot rates for commissions and bribes for users referred via the future referral link are set at the rate set on the ‘default’ referral link.
Futures:

If an inviteer’s daily average BNB account balance is less than 500 BNB, their basic referral rate is 20%, where they will share 10% with friends, leaving the invitee with 10% referral bonus
If an inviteer’s daily average BNB account balance is 500 BNB or more, their basic referral rate is 30%, where they will share 10% with friends, leaving the invitee with a referral bonus of 20%.
Term affiliate’s basic referral rate is 40%, wherein they will share a 10% discount for the first 30 days with a friend, leaving the invitee with a 30% referral bonus.

Note:

Commission linking does not apply to users referred to Binance via a spot or futures referral program before 2020/05/07 1:00 PM (UTC).
The default link for spot commission can be seen in the upper left corner of the spot referral landing page and is changed at any time by clicking ‘default’ on one of the links provided.
If a user registers an account from a futures referral link, their spot referral rate will be determined by the default link for spot commission. If the invitees then change their default link to another link with a different spot commission ratio, the user will keep the referral spot rate applied at the time of account registration.
Spot and Futures referral invitation data can still be seen on the landing page of each Spot referral landing page & Futures referral landing page.
To earn spot and futures commissions when referring a friend, you must ensure that you have opened a futures account yourself. If you refer a friend using your spot referral link, but you haven’t opened a futures account yourself, then you will. only get commission off of their spot trading fees.

The referral rules for the spot and futures program remain unchanged.
Binance Spot referral program rules.
Binance Futures referral program rules.

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