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Poll: Why should bitcoin be mined...?
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Bitcoin mining in South Africa

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The popularity of cryptocurrencies in South Africa has pushed some people to venture into bitcoin mining. However, Bitcoin mining in South Africa is as risky as it is everywhere. The profit obtained from bitcoin mining decreases over time as mining difficulty increases with time.[/font][/size][/color][/align]
Bitcoin mining is not different from mining gold. Early miners jumped in when only a desktop was enough to mine bitcoins. As more people entered the sphere, more powerful and expensive equipment was designed to do the job. Bitcoin mining is known for its high consumption of electrical power.
To a greater extent, the profitability of bitcoin mining depends on the cost of electricity. According to a January 2018 study, Venezuela was the cheapest country to mine a single Bitcoin ($536) and South Africa stood at $5,948. South Korea was the most expensive country as it required in excess of $26,000 to mine a Bitcoin.
Despite the growing interest in Bitcoin mining, South is far from becoming a mining hub due to the high costs of electricity.
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