FX.co ★ Top 5 countries for bitcoin mining

China

For the time being, China is the most suitable country for mining the cryptocurrency #1. According to experts' estimates, more than 60% of the total volume of bitcoins are mined in this country. However, the situation may change anytime soon, as the People's Bank of China intends to reduce excessive energy consumption caused by miners. As a result, participants of the cryptocurrency market need to find an alternative place for mining and stream into other countries.

Canada

Some experts say that Canada has good prospects of becoming a site for mining, and they don't mind that this country is a newbie in the cryptocurrency industry. Canada is good for mining as it has cheap energy, low temperatures, and high-speed internet.

Iceland

Iceland is also an attractive region for miners. Here the temperatures are always low and geothermal energy is rather cheap. Some experts even call Iceland a heaven for miners.

Russia

Russia is also on the list of the most suitable countries for mining. Russian energy is one of the cheapest in the world. Besides, relatively pure materials such gas, nuclear fuel, and water are used to produce it. Miners can take advantage of beneficial conditions for cryptocurrency mining, offered by the Russian authorities.

Georgia

Georgia is the last on the list of the countries with the most beneficial conditions for mining. Georgia's authorities cooperate with the industry's giant BitFury. Crypto mining farms of this company are considered to be the most advanced. Cheap energy and low taxes make Georgia one of the most promising countries for mining digital assets.