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Inside the Largest Bitcoin Mine in The U.S. - WIREDWith an average cost of $3, per bitcoin, Louisiana is the cheapest state for bitcoin mining. Idaho, Washington, and Tennessee are next three cheapest states. The city may soon be famous for a different type of mining though � it now hosts the Arctic's first crypto farm for producing new Bitcoins. ExxonMobil has been working with Denver-based Crusoe Energy Systems to mine bitcoin in North Dakota for over a year, according to people.