cryptoslate.com
Cryptocurrency miners are considered one of the main drivers of the crypto industry but the latest market downturn has put the profitability of the once-lucrative business into question.
Falling crypto prices and rising electricity costs around the world mean miners operate on very tight margins and some might not even be profitable at all, according to a report from 911 Metalurgist on mining costs.
The report estimates how expensive it is to mine the top three most popular PoW cryptocurrencies — Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
The research considered the average price per kWh in every country in the world and then compared it to the energy required to mine every one of these tokens. Subtracting the average market price for the token left researchers with a rough estimate as to how profitable mining is around the world.
The varying cost of crypto mining around the world
