The world's largest
cryptocurrency mining center
and global cryptocurrency exchange platform
that is carried out by Commons Foundation.
The mining of the representative cryptocurrency Bitcoin (BTC)
and its exchange consume 0.5% of the entire world's electricity, and as the mining is continuously getting difficult,
the global electricity consumption is also getting higher.
The profitability is falling.
('Joule', an international journal, May 2018 )
Electricity cost for mining 1 Bitcoin
per country for 115 countries
Electricity cost for mining 1 Bitcoin per country for 114 countries
Country |
Electricity cost |
Cost comparison |
Net profit |
Golden Goose (Paraguay)
|
$ 1,387
|
-
|
$ 7,180
|
Paraguay
|
$ 3,140
|
2.26 times
|
$ 5,427
|
China
|
$ 3,172
|
2.27 times
|
$ 5,395
|
United States
|
$ 4,758
|
3.43 times
|
$ 3,809
|
Average
|
$ 7,275
|
5.25 times
|
$ 1,292
|
Republic of Korea
|
$ 26,170
|
18.87 times
|
- $ 17,603
|
Source: Survey by Elite Fixtures (May 2018), BTC = $ 8,567
Golden Goose electricity cost: $0.031/kWh, based on BTC Difficulty as of February 2019
Electricity cost are the latest data from the 2018 survey. Currently, electricity cost continue to rise due to the increase in the price of fossil fuels such as coal, oil and gas and carbon taxes, but in Paraguay, the price is expected to decrease due to hydroelectric energy