To arrange the best profitable operation is very important for a miner just like every kilowatt-hour counts. As little as a cent per kWh is able to differentiate between a mining farms being achievable. For U.S bitcoin miners it is now easy to choose where to set up shop and it is all because of the research work that tells the cheapest states for mining.
Great rates in the Pelican state
Louisiana present between Mississippi and Texas is barely synonymous with cryptocurrency or surely anything tech-related.
In the Southeastern U.S, the average cost of mining one bitcoin has been estimated at $3,224 which is around $280 less than Arkansas and that is why it makes a 5th place on the list. In between, reversely, comes Tennessee, Washington and Idaho. These differences in price might look slight, but over the year, the potential profits can briskly build up. For those, main highlight is that location is everything, the report has also researched the most expensive U.S. states for mining cryptocurrency.
The research work which has been done by the miners are aware of that New Hampshire, Massachusetts, Connecticut, Alaska and Hawaii are off-limits. Eventually, the average mining cost of one coin has been priced almost $9,500 or you can say three times that of Louisiana. In order to gather information about the location for bitcoin mining, entrepreneurs generally look for plentiful supplies of inexpensive hydropower. The Sidney A. Murray. Jr. Hydroelectric Station, in Louisiana, has the greatest wealth of water-generated power.
Mining in the Southeast’s melting pot
One of the ideal features of U.S. utility companies is that, when it comes to assessment, they try to keep their rates less than what it costs to generate power and more on what the market can bear. This is the reason why affluent states like Washington and New Hampshire are inappropriate to bitcoin mining and Louisiana is a top pick. The state is an epitome of Jazz, bohemian vibes, and rich culture. Louisiana has got soul and spirit in spades. Most importantly, it is best in bitcoin mining in terms of plentiful supply of cheap power.