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Friday, 22 December 2017

Want To Mine Bitcoin? Check Out The Best States To Do So In The US

For crypto-miners looking to make money from mining cryptocurrencies like Bitcoin and Ethereum, every cent matters, as one cent can make difference between having a viable or infeasible mining farm.
US Bitcoin miners can check this list to see where their mining business might prove profitable.

First on the list, surprisingly, is Louisiana. Louisiana, you might say is hardly synonymous with anything digital, let alone mining of crypto-currency. Miners though, would have to take a closer look at the state sandwiched between Mississippi and Texas as it has been shown that they are among the states in the US with the cheapest energy rates. The cost of mining 1 BTC, in the Southeastern state is around $3,224 which is about $280 less than mining in Arkansas. Arkansas sits on number 5 on the list.

See Also - Bitcoin suffers fresh fall, Drop Down 25% from All-Time High

In reverse order, Tennessee, Washington and Idaho come between them Louisiana and Arkansas. Yeah, the difference in price might seem little, but when stacked up over the course of a year or more, the differences are evident.
Below is a chart showing the approximate price of mining Bitcoin in the United States.
 Miners who have done their research will know that Massachusetts, Alaska, and Hawaii are off limits; unless of course they are mining for fun and not for profits. In Hawaii, the approximate cost of mining Bitcoin is around $9,500 which is almost thrice of that Louisiana.

One factor that evidently influenced Louisiana's cheap electricity rates is the availability of her Hydro power plant- Sydney A. Murray Jr. Hydroelectric station.

What do you think? Why are there energy differences between states? And what state would you mine BTC if you were a miner? Please share your views in the comments section and yeah, if you've already done so, subscribe to our newsletter. It won't hurt. *wink* 

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