Shocking report shows 1 Bitcoin costs $1,300 to mine in Iran and $306,000 in Italy (check full list)

Bitcoin might be trading at $108,000, but the cost to create one coin varies dramatically depending on where it’s mined — and the gulf between countries is staggering.

A new chart circulating on X shows that Iran can mine one Bitcoin for just $1,320 in electricity costs, making it one of the cheapest places on earth to produce BTC. With today’s prices, that translates into an 83x profit margin if sold on the market.

The cheapest vs. the priciest places to mine

Iran isn’t alone at the bottom end of the cost spectrum. Ethiopia ($1,990), Sudan ($3,970), Cuba ($3,970), and Libya ($5,290) all show dirt-cheap energy inputs that make mining highly profitable. These countries often benefit from subsidized electricity or underdeveloped energy markets where power is priced far below global averages.

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At the other extreme, Italy is the most expensive country in the world for Bitcoin mining, at $306,550 per coin, nearly triple BTC’s current market value. Other European countries like Austria ($277,000), Bahamas ($280,000), and Switzerland ($236,000) also fall into the unprofitable zone.

Where the U.S. stands

In the United States, the average cost to mine one Bitcoin is $102,260. That makes the U.S. one of the more expensive but still competitive hubs, given that BTC’s price remains well above production costs.

The reason U.S. miners continue to thrive is because they don’t pay “average” retail electricity rates. Large-scale mining operations in states like Texas, Kentucky, and Wyoming negotiate bulk deals, tap into stranded natural gas, or increasingly rely on renewables. For example:

• Texas has become a mining magnet thanks to cheap wind and solar energy, plus flexible power agreements that let miners shut down during peak demand.
• Kentucky offers tax breaks on mining equipment and has abundant coal-powered electricity.
• New York and California, by contrast, have strict environmental rules that push costs higher.

Why this matters for Bitcoin’s future

Miners will always flock to where electricity is cheapest — whether that’s subsidized power in Iran or wind farms in Texas.

Story ContinuesBut this also highlights geopolitical risks. Iran’s ability to mine at $1,300 a coin gives it a financial tool despite U.S. sanctions, while American miners must innovate constantly to keep costs low. At the same time, Europe is effectively priced out of the game, with most countries facing electricity costs that make mining impossible.

As Bitcoin edges higher, with BTC up 85% year-to-date, the cost map becomes more than trivia — it shows where the next wave of mining power might migrate and how politics, energy markets, and crypto economics collide.

Quick numbers recap:

• Cheapest country: Iran ($1,320).
• Most expensive country: Italy ($306,550).
• U.S. cost: $102,260 (but lower in mining states).
• Bitcoin price today: ~$108,000.

FAQ

What is the cheapest country to mine Bitcoin in 2025?

The cheapest country to mine Bitcoin in 2025 is Iran, where the electricity cost per Bitcoin is just $1,320. This makes mining in Iran about 83x cheaper than the market price of Bitcoin, which trades near $108,000.

What is the most expensive country to mine Bitcoin in 2025?

The most expensive country to mine Bitcoin is Italy, where it costs around $306,550 to mine one Bitcoin. Other high-cost regions include Austria ($277,000) and Switzerland ($236,000), making Bitcoin mining unprofitable across most of Europe.

How much does it cost to mine one Bitcoin in the U.S.?

In the United States, the average Bitcoin mining cost is $102,260 per BTC. However, mining farms in states like Texas, Kentucky, and Wyoming often lower this cost significantly by using cheap renewable energy, stranded natural gas, and bulk electricity contracts.

Why do Bitcoin mining costs vary by country?

Bitcoin mining costs vary mainly because of electricity prices, government subsidies, and energy infrastructure. Countries with subsidized electricity (like Iran or Ethiopia) can mine at ultra-low costs, while regions with expensive retail power rates (like Europe) face mining costs well above Bitcoin’s price.

Is Bitcoin mining profitable in 2025?

Bitcoin mining is highly profitable in cheap-energy countries such as Iran, Ethiopia, and Sudan. In the U.S., miners remain profitable at $108,000 BTC but face tight margins if costs rise. In Europe, mining is largely unprofitable due to electricity costs exceeding Bitcoin’s market value.

Why does Iran’s cheap Bitcoin mining matter for global markets?

Iran’s ability to mine Bitcoin for just $1,320 per BTC allows the country to convert subsidized energy into hard currency, even under U.S. sanctions. This shows how Bitcoin mining intersects with geopolitics, energy policy, and global financial flows.

This story was originally reported by TheStreet on Sep 1, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.

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