Where is it profitable to mine bitcoin in 2026: power tariffs by country and the breakeven rate
at a hashprice of $40.93 per PH/day (Hashrate Index, 2026-09-21), an Antminer S21 Pro breaks even at $0.114 per kWh and an S21 XP at $0.126. Mining pays where electricity costs under about $0.07 and where mining is legal. By published hosting rates that means Nigeria, Ethiopia, the UAE, Texas and Norway, but each country brings its own risks.
"Where is it profitable" is really two questions: where is power cheap, and where will nobody punish you for using it. The first is settled by a calculator, the second by law. Both parts follow, with dates and sources. We are not a pool and sell no hardware, POOL BTC is an independent comparison site. This is not financial or legal advice.
What electricity tariff makes bitcoin mining pay?
A machine's daily revenue is the hashprice times its hashrate. Its power bill is its draw in kW times 24 hours times the tariff. Setting one equal to the other gives the breakeven tariff. At a hashprice of $40.93 per PH/day it is $0.114 per kWh for the S21 Pro and $0.126 for the S21 XP, before the machine's price and pool fees.
The hashprice for 2026-09-21 comes from the Hashrate Index roundup. S21 Pro specs (234 TH/s, 3,510 W) are from the Hashrate Index overview, S21 XP specs (270 TH/s, 3,645 W) from the Bitmain page.
| Machine | Revenue per day | Power per day | Breakeven tariff | In rubles (84.41 RUB/$) |
|---|---|---|---|---|
| Antminer S21 Pro, 234 TH/s, 3,510 W | $9.58 | 84.24 kWh | $0.114 per kWh | 9.60 RUB |
| Antminer S21 XP, 270 TH/s, 3,645 W | $11.05 | 87.48 kWh | $0.126 per kWh | 10.66 RUB |
The rate of 84.4075 RUB per dollar is the Bank of Russia official rate for 2026-09-29. The breakeven tariff is a ceiling, not a target. A machine that only breaks even never pays back what you spent on it. Hashprice also moves: $39.36 on 2026-08-31 and $40.93 on 2026-09-21 per the same Hashrate Index.
Where is electricity for mining cheapest?
By published hosting rates on 2026-09-21 it is cheapest in Nigeria, Ethiopia and the UAE, then Texas and Norway. These are a hosting company's prices, not grid tariffs, and they include the operator's margin. For comparison, the average US industrial tariff in July 2026 was 9.77 cents, and in Texas 7.07 cents per kWh.
| Location | Rate, cents per kWh | 7-year prepaid rate | Power source |
|---|---|---|---|
| Nigeria | 4.80 | 3.64 | grid |
| Ethiopia | 5.30 | 3.99 | hydro |
| Dubai, UAE | 5.75 | 4.20 | gas |
| Texas, USA | 5.90 | 4.50 | gas, wind, solar |
| Norway | 6.00 | 4.40 | hydro |
Source: OneMiners, published hosting rates, checked by the author 2026-09-21, published 2026-09-23. OneMiners sells hosting itself, so read the table as a vendor's price list. US averages from the EIA Electric Power Monthly for July 2026.
Estimates of the grid price without a hosting markup appear in the Spark overview for "mid-2026", the page has no exact date: Iran $0.01, Ethiopia $0.02, Paraguay $0.03, Kazakhstan $0.04, Canada $0.05, Germany $0.15, UK $0.18. This is a secondary source. According to the same overview, Iran allows mining only under a licence and China bans it.
What does the law say in Russia and Kazakhstan?
Mining is legal in both countries but tightly regulated. Russia has Law 221-FZ with a registry and taxes, and mining is banned in several regions. Kazakhstan licenses mining under Law 193-VII, and rules for strategic miners have applied since 2026-08-01. A cheap tariff does not help if you sit in a banned zone.
| Country | Status | What matters | Source |
|---|---|---|---|
| Russia | Legal since 2024-11-01 | FNS registry for sole proprietors and companies, individuals need no registry up to 6,000 kWh a month, personal income tax up to 22%, corporate profit tax 25% | Kremlin, 221-FZ, FNS |
| Russia, bans | Regional | Ban 2026-08-15 to 2032-12-31 in Moscow and Moscow Oblast (Decree 936), for several Caucasus and new-territory regions until 2031-03-15 (Decree 1869) | Decree 936, Decree 1869 |
| Kazakhstan | Licensed | Law 193-VII in force since 2023-04-01, accreditation of pools | Library of Congress |
| Kazakhstan, strategic miners | From 2026-08-01 | Data center of 150 MW or more, equipment of 150 TH/s or more per unit, 10% of mined assets left after power costs go to the national crypto reserve | Incrypted, 2026-07-24, Kursiv, 2026-07-22 |
More on both countries: mining in Russia in 2026 and best pools for Kazakhstan. In Russia, pool participation counts as mining, so connecting to a pool from a banned zone is not allowed.
How much is left at different tariffs?
The spread is huge. At $0.05 per kWh an S21 Pro leaves about $5.37 a day before machine and pool costs, at $0.0977 only $1.35, and at $0.12 it goes negative. Moving from the US average tariff to $0.05 multiplies the margin by 2.7 for the S21 XP and by 4 for the S21 Pro.
Calculation: revenue of $9.58 (S21 Pro) and $11.05 (S21 XP) a day at a hashprice of $40.93, minus consumption of 84.24 and 87.48 kWh times the tariff. Pool fees and machine price are not included.
| Tariff, $ per kWh | Where it shows up | S21 Pro, $ per day | S21 XP, $ per day | S21 XP, $ per 30 days |
|---|---|---|---|---|
| 0.03 | Paraguay rate per Spark | 7.05 | 8.43 | 253 |
| 0.05 | Canada per Spark, Nigeria's 4.8 cents | 5.37 | 6.68 | 200 |
| 0.0575 | Dubai, hosting | 4.73 | 6.02 | 181 |
| 0.0707 | Texas, industrial, July 2026 | 3.62 | 4.87 | 146 |
| 0.0977 | US average, industrial, July 2026 | 1.35 | 2.50 | 75 |
| 0.12 | above the S21 Pro breakeven | -0.53 | 0.55 | 17 |
| 0.15 | Germany per Spark | -3.06 | -2.07 | -62 |
One S21 XP on the Texas tariff earns about $146 over 30 days against $75 at the US average. Almost a twofold gap comes from electricity alone. Check your own numbers in the calculator, and compare models by efficiency in the miner ranking.
Can you mine at home in Russia, and where does it pay?
An individual without sole-proprietor status may mine without the registry up to 6,000 kWh a month (Decree 1469 of 2024-11-01). That is roughly 2 S21 Pro machines, each drawing about 2,527 kWh a month. A home on a household tariff in a permitted region comes out very cheap, but several regions have bans.
In Irkutsk Oblast the household tariff for city homes without electric heating was 1.80 RUB per kWh through 2026-09-30 and 2.10 RUB from 2026-10-01 in the first consumption band (up to 3,900 kWh), per Irkutskenergo. At the Bank of Russia rate of 2026-09-29 that is about $0.021 and $0.025. But the south of the oblast, including Irkutsk, Angarsk and Shelekhov, is closed to mining from 2025-04-07 to 2031-03-15, while the northern districts including Bratsk and Ust-Ilimsk are allowed (retold from miner-world.ru, check the primary source in Decree 1869).
Remember taxes. Mining income is subject to progressive personal income tax from 13% to 22%, special regimes do not apply, and documented power and equipment costs are deductible (FNS).
Where should you start when choosing a place to mine?
Go in order: confirm the legal status, get the real tariff from a contract rather than an ad, compute the margin on a specific model, and only then buy a machine. A hosting price is a rate per kWh, while the final bill can be changed by maintenance, downtime and taxes, so read the contract.
- Check whether mining is allowed in your region and in what form: registry, licence, kWh limit.
- Get the tariff as a number in a contract, including transmission and taxes, and convert it to dollars at the current rate.
- Compare it with your machine's breakeven: $0.114 for the S21 Pro, $0.126 for the S21 XP at the hashprice of 2026-09-21.
- Leave headroom: hashprice moved from $39.36 (2026-08-31) to $40.93 (2026-09-21) in three weeks.
- Only then pick a machine and a pool.
FAQ
Where is the cheapest electricity for mining right now?
By published hosting rates on 2026-09-21 it is Nigeria (4.80 cents per kWh), Ethiopia (5.30) and the UAE (5.75). Secondary overviews put Iran and Ethiopia even lower, but they carry no exact dates.
Is mining profitable in Russia in 2026?
Power in permitted regions is cheap, but that gives no right to mine anywhere. The household tariff in Irkutsk Oblast, about 2.10 RUB from 2026-10-01, is 4-5 times below the S21 Pro breakeven of 9.60 RUB, but the south of the oblast is banned. Check your region against Decrees 1869 and 936.
What tariff keeps an S21 Pro and an S21 XP out of the red?
At $40.93 per PH/day, no higher than $0.114 per kWh for the S21 Pro and $0.126 for the S21 XP. Leave headroom: hashprice moved from $39.36 to $40.93 in three weeks.
Can you mine in Kazakhstan in 2026?
Yes, under a licence per Law 193-VII, and large data centers of 150 MW or more can become strategic miners from 2026-08-01 and hand 10% of the remaining output to the crypto reserve. A small miner cannot use these rules, details are in the article on pools for Kazakhstan.
Is it worth moving abroad for cheaper electricity?
Only if the tariff gap covers the move, hardware logistics and legal risk. Hosting in a cheap country is often more sensible, but check the contract: price, downtime penalties, the procedure for taking a machine back.
Is this financial advice?
No. The figures illustrate a calculation on a given date, hashprice changes every day, and the breakeven tariff should be recomputed in the calculator before you buy.