The profitability of crypto mining varies greatly depending on the location of the miners
Cryptocurrency miners are considered one of the main drivers of the crypto industry, but the recent downturn in the market has called into question the profitability of this business.
According to the 911 Metallurgist report, mining costs, falling cryptocurrency prices and rising electricity costs around the world mean that miners work with very low margins, and some may not make a profit at all.
The report estimates how expensive it is to mine the three most popular PoW cryptocurrencies - Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE).
The study took into account the average price per kWh in each country of the world, and then compared with the energy required for mining each of these tokens. Subtracting the average market price of the token gave researchers a rough estimate of how profitable mining is worldwide.
Different cost of mining cryptocurrencies in the USA and around the world
https://coin-signal.com/cryptonews/the-profitability-of-crypto-mining-varies-greatly-depending-on-the-location-of-the-miners/
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