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Originally Posted by Martinjlm
Crypto mining will have a much deeper impact on electricity prices than EV ever could. Crypto requires 24/7 draw of electricity and is an energy hog. Don't take my word for it. The data is out there.
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I'm sure they'll be driven out, just as surely as people are fleeing CA (a net importer of about 30% of its electricity). EV chargers for US citizens will have to remain in the US, obviously.
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Electricity: This is the most significant operational cost for crypto miners.
Overseas: Some countries offer significantly lower electricity rates than the average in the United States. For example, Paraguay has electricity as low as $2.8 to $4.6 per megawatt hour, and Iran and Syria have electricity costs to mine 1 Bitcoin as low as $532 and $1330, respectively.
Domestic (US): Electricity costs in the US vary significantly, with residential rates averaging 22.25 cents per kWh, while industrial rates average 6.87 cents per kWh. The average household electricity cost to mine 1 Bitcoin in the US is estimated to be $46,291.24.
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