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bitcoin mining saudi arabia

Apr 3, 2016. The price of electricity is only one part of the costs of mining bitcoin. My bitcoin mining operation expenses, as of today, are 78% equipment and 22% electricity.

Kuwait is the cheapest country in the GCC to mine bitcoins, according to estimates from Elite Fixtures – although miners may want to avoid Bahrain.

A map published by the home lighting and fixtures company based in new Jersey – who probably know more about electricity costs than cryptocurrencies – charts the cost of mining a single Bitcoin in 115 countries based on the three most popular mining “rigs”, or supercomputers used in the mining process.

'Mining' is the process by which computers verify transactions on the Bitcoin blockchain by solving a series of increasingly complex mathematical problems.

This activity is central to the decentralised nature of the cryptocurrency and, as a result, is rewarded through a payment in the new Bitcoins it creates.

Kuwait is the cheapest in the GCC, with a rate of $1,983 per Bitcoin, making it highly profitable considering Bitcoin’s recent rally to $11,500 – and around two-thirds of the cost to mine in Saudi Arabia, where mining one Bitcoin will cost $3,172.

In the UAE, that figure rises to $3,569, which is still offering more than 300 percent returns.

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Hi guys, i am base in Saudi Arabia, i'd like to know if it is allowed to do mining bitcoin in Saudi Arabia? any members from Saudi?

Kuwait is the cheapest country in the GCC to mine bitcoins, according to estimates from Elite Fixtures – although miners may want to avoid Bahrain.

A map published by the home lighting and fixtures company based in new Jersey – who probably know more about electricity costs than cryptocurrencies – charts the cost of mining a single Bitcoin in 115 countries based on the three most popular mining “rigs”, or supercomputers used in the mining process.

'Mining' is the process by which computers verify transactions on the Bitcoin blockchain by solving a series of increasingly complex mathematical problems.

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