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[source](https://twitter.com/nomadfulcrum/status/1692854594882211844/photo/1)

This is quite an interesting statistic depicting which countries still have the ability to mine Bitcoin below market value. The surge in energy prices globally has definitely impacted the ability to mine Bitcoin profitably which has no doubt forced the bigger mining businesses to seek more profitable countries.


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[source](https://www.visualcapitalist.com/cp/the-cost-of-mining-bitcoin-in-198-different-countries/)

**Average prices to mine Bitcoin from March 2022.**

This is from one year ago and highlights the upward trend in mining costs when compared to the first map. South Africa's electricity costs have risen by 20% since last year so it is correct for this region.

What is interesting to know s that it takes 1,449 kilowatt hours (kWh) of electricity to mine one Bitcoin which is what a normal household would consume over a 13 year period.

The Bitcoin halving next year on April 16th is inly going to double the mining costs and why one would imagine Bitcoin going up in price. There will be very few countries left which would still be viable to profit from mining Bitcoin and why Bitcoin needs a substantial bump in price.

One can obviously see by doubling the cost of mining 1 Bitcoin the only places that will benefit are places that use natural resources like what El Salvador has put in place with their volcanic thermal mining facility. 

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[source](https://twitter.com/nomadfulcrum/status/1692854594882211844/photo/1)

The countries where it is still viable and profitable are not necessarily going to welcome Bitcoin mining with open arms due to not having enough electricity to supply. Just because their electricity is cheap it doesn't mean they have an unlimited supply and why they won't be rolling out the red carpet. A country like Zimbabwe does not have a reliable electricity supply so it may be cheap, but they have constant blackouts. South Africa has similar problems and you will have so much downtime ensuring profits are being lost.

Mining firms would have invested millions into their mining rigs and they will be banking on Bitcoin going up in value. They are not in the business of breaking even and need Bitcoin to rise at a far quicker rate than electricity has. They need to be diversifying their businesses as electricity bills don't half every 4 years so they need to incorporate new elements or their business is just not profitable. Some have incorporated their mining operations into data centers offering cloud services.

Certain countries around the world are no longer viable and for Australia to be back in the game would need Bitcoin over $400k in April 2024 which sounds ludicrous. 2028 would see that double again and why Bitcoin valued at more than $1 million in the future is not so crazy.

At the current trajectories of the costs involved for mining just one Bitcoin there is no way Bitcoin can remain at the current prices. I just don't see it and why the halving is going to increase the price considerably. One has to imagine what the price of Bitcoin will be in 2028.

Posted Using [LeoFinance Alpha](https://leofinance.io/@cryptoandcoffee/bitcoin-mining-out-of-sync-and-why-bitcoin-has-to-rise-in-value-by-a-lot)