This map shows the best states for bitcoin mining

A.D. 2021 is a great year for bitcoin mining in the United States as a new talent – and tools – but some states are definitely more attractive destinations than others.

Recent data from the International Energy Institute shows that the average price of electricity in states, including Texas and Washington, is very low, making both states a hot destination for new digital coins.

When it comes to deciding where to set up a store, the cost of energy is not everything, but it really goes a long way.

Miners compete in the low-margin industry, and their only variable value is conventional energy, so they are motivated to switch to the world’s cheapest energy sources.

Energy prices in the United States vary.

In California and Connecticut, they pay 18 to 19 cents per kilowatt hour, but in Texas, Wyoming, Washington and Kentucky, they pay less than half. The Global Energy Institute, which publishes the country’s annual electricity price map using the latest year-round data from the United States Energy Information Administration.

However, the agency warns, “While energy integration in one state plays a significant role in government electricity prices, in some states, energy-restricting policies increase man-made prices by increasing the cost of electricity for consumers and businesses. “

Finally, bitcoin miners are increasingly concerned about finding cheap electricity sources.

This is part of the fact that the United States is particularly attractive to prospective miners, as many of the world’s cheapest energy sources are home to some of the world’s largest renewable energy sources.

Cryptocurrency Mining Specialist Marathon Digital Holdings CEO Fred Tiel expects most new miners moving to North America to wait for gas to be replaced by renewable energy or renewable energy credits.

“Minerals are costly, so there is a tendency to look for low-energy and low-cost renewable energy because if fossil fuels fuel … it has to extract, upgrade and transport costs,” said blockbuster CEO Adam.

Washington State is home to hydropower for hydropower, Texas’ share of renewable energy is growing, and 20% of its energy will come from wind by 2019.

But not all electricity bills. Friendly policymakers and adequate infrastructure are also key factors.

Take Texas.

It has a well-designed power grid that allows customers to choose between power suppliers, and primarily, the dream of a mining leader looking for a pro-crypto-friendly reception and cheap energy sources.

“In the next few months, you will see dramatic changes,” said bitcoin mining engineer Brandon Arvanagi. In Texas, we have governors like Greg Abbott. Mining will become a real industry in the United States, which is unbelievable.

Long before the United States became famous, it invested in some of the most amazing infrastructure.

A.D. When bitcoin stumbled in late 2017 and the broader market entered the cryptocurrency winter for many years, there was little demand for large bitcoin farms. U.S. mining operators saw the gap and jumped at the chance to invest cheaply in building the state’s mining ecosystem.

“Large-scale mining companies have been able to raise capital to make big purchases,” said Mike Collier, CEO of Digital Currency Company, which helped bring more than $ 300 million worth of mining equipment to North America.

Companies such as North American Cryptometer Operator Core Scientific continue to build in-depth storage space to enable new gears. Core, which operates in North Dakota, North Carolina, Georgia and Kentucky, is one of the largest suppliers of blockchain infrastructure and hosting in North America.


Leave a Comment