A Visual History of the Largest Companies by Market Cap (1999-Today)
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A Visual History of the Largest Companies by Market Cap (1999-Today)

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A Visual History of the Largest Companies by Market Cap (1999-Today)

A Visual History of the Largest Companies by Market Cap

The macro narrative that underlies the market is constantly under revision.

While this is partially a function of shifts in investor sentiment, it’s also driven by game-changing events as well as much more structural market forces.

For example, how does the macro narrative change after a commodity price crash? What about when the unprecedented scale of technology is truly understood by the market?

An Evolving Narrative

In this week’s chart, we look at how the big picture narrative has changed over time by using a very simple approach.

We have visualized the market capitalizations of the 10 largest public companies in the world over five-year intervals from 1999 until today, and it gives us a series of snapshots of what the market was “thinking” during these specific periods.

Not only is it evident as certain industries rise to prominence, but there are also some interesting individual stories to follow. We can see iconic companies – such as Apple – ascend into the public consciousness, while others fall off the radar completely.

YearDescriptionTop CompanyWho Dominates Top 10?
1999Dotcom BubbleMicrosoft ($583B)Five tech companies in the mix
2004Post-BubbleGE ($319B)Diverse mix of companies by industry
2009Financial CrisisPetroChina ($367B)Six non-U.S. companies make list
2014$100 OilApple ($560B)Last year for oil companies, tech starts ascending
2019Big Tech EraMicrosoft ($1,050B)Seven companies are tech

The composition of the top 10 changes in each of the snapshots above, and this simple approach helps capture the market narrative for each timeframe.

During the Dotcom Bubble, you can see that half of the list was dominated by tech companies. This was short-lived, and the years 2004, 2009, and 2014 have much more diverse lists.

You can also see the impact of the financial crisis on U.S. company valuations. In 2009, there is an equal distribution of Chinese and American companies. Royal Dutch Shell (UK/Netherlands) and Petrobras (Brazil) help round out the top 10.

Finally, over the last five years, you can see the impact of lower oil prices and the growing scale of tech. Back in 2014, Exxon Mobil was the second largest company in the world by a solid margin, but today it’s been displaced by companies like Facebook, Amazon, Tencent, and Alibaba.

The Big Tech Era

Here is the current top 10 list of the world’s largest companies by market cap:

RankCompanyIndustryMarket Cap
#1๐Ÿ‡บ๐Ÿ‡ธ MicrosoftTech$1,050 billion
#2๐Ÿ‡บ๐Ÿ‡ธ AmazonTech$943 billion
#3๐Ÿ‡บ๐Ÿ‡ธ AppleTech$920 billion
#4๐Ÿ‡บ๐Ÿ‡ธ AlphabetTech$778 billion
#5๐Ÿ‡บ๐Ÿ‡ธ FacebookTech$546 billion
#6๐Ÿ‡บ๐Ÿ‡ธ Berkshire HathawayDiversified$507 billion
#7๐Ÿ‡จ๐Ÿ‡ณ AlibabaTech$435 billion
#8๐Ÿ‡จ๐Ÿ‡ณ TencentTech$431 billion
#9๐Ÿ‡บ๐Ÿ‡ธ VisaFinancial$379 billion
#10๐Ÿ‡บ๐Ÿ‡ธ Johnson & JohnsonConsumer Goods$376 billion

In total, the five biggest tech giants brought in a combined $801.5 billion in revenue last year, and $139 billion in net income.

The Staying Power of Microsoft

With a valuation today of just over $1 trillion, Microsoft is again the world’s largest company by market capitalization.

In this way, the above lists come full circle, since Microsoft was also the biggest company in 1999.

While the software giant experienced short periods where it did drop out of favor, Microsoft was the only company to make the list in our five snapshots above.

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The Cost of Mining Bitcoin in 198 Different Countries

Mining bitcoin is costly. But the exact price fluctuates, depending on the location and the cost of electricity in the area.

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Cost of Mining Bitcoin in 198 Different Countries

View a higher resolution version of this map.

It takes an estimated 1,449 kilowatt hours (kWh) of energy to mine a single bitcoin. Thatโ€™s the same amount of energy an average U.S. household consumes in approximately 13 years.

Given the high amount of energy needed to mine bitcoin, it can be a costly venture to get into. But exact prices fluctuate, depending on the location and the cost of electricity in the area.

Where are the cheapest and most expensive places to mine this popular cryptocurrency? This graphic by 911 Metallurgist provides a snapshot of the estimated cost of mining bitcoin around the world, using pricing and relative costs from March 23, 2022.

How Does Bitcoin Mining Work?

Before diving in, itโ€™s worth briefly explaining the basics of bitcoin mining, and why it requires so much energy.

When someone mines for bitcoin, what theyโ€™re really doing is adding and verifying a new transaction record to the blockchainโ€”the decentralized bank ledger where bitcoin is traded and distributed.

To create this new record, crypto miners need to crack a complex equation thatโ€™s been generated by the blockchain system.

Potentially tens of thousands of miners are racing to crack the same code at any given time. Only the first person to solve the equation gets rewarded (unless youโ€™re part of a mining pool, which is essentially a group of miners who agree to combine efforts to increase their chances of solving the equation).

The faster your computing power is, the better your chances are of winning, so solving the equation first requires powerful equipment that takes up a lot of energy.

The Costs and Profits of Mining Bitcoin in 198 Countries

Across the 198 countries included in the dataset, the average cost to mine bitcoin sat at $35,404.03, more than bitcoinโ€™s value of $20,863.69 on July 15, 2022. Though it’s important to note that fluctuating energy prices, and more or less miners on the bitcoin network, constantly change the necessary energy and final cost.

Hereโ€™s a breakdown of what the cost to mine one bitcoin in each country was in March 23, 2022, along with the potential profit after accounting for mining costs:

#CountryCost to mine 1 bitcoinProfit (July 15, 2022)
1๐Ÿ‡ฐ๐Ÿ‡ผ Kuwait$1,393.95$18,362.58
2๐Ÿ‡ฉ๐Ÿ‡ฟ Algeria$4,181.86$15,574.67
3๐Ÿ‡ธ๐Ÿ‡ฉ Sudan$4,779.27$14,977.26
4๐Ÿ‡พ๐Ÿ‡ช Yemen$7,161.77$12,594.76
5๐Ÿ‡ช๐Ÿ‡น Ethiopia$7,168.91$12,587.62
6๐Ÿ‡ฐ๐Ÿ‡ฌ Kyrgyzstan$7,168.91$12,587.62
7๐Ÿ‡ฆ๐Ÿ‡ด Angola$7,368.04$12,388.49
8๐Ÿ‡ถ๐Ÿ‡ฆ Qatar$7,368.04$12,388.49
9๐Ÿ‡ฐ๐Ÿ‡ต North Korea$7,744.32$12,012.21
10๐Ÿ‡ฐ๐Ÿ‡ฟ Kazakhstan$8,762.00$10,994.53
11๐Ÿ‡ฟ๐Ÿ‡ฒ Zambia$9,160.27$10,596.26
12๐Ÿ‡ฆ๐Ÿ‡ฟ Azerbaijan$9,558.54$10,197.99
13๐Ÿ‡ง๐Ÿ‡ณ Brunei$9,956.81$9,799.72
14๐Ÿ‡ฎ๐Ÿ‡ท Iran$10,355.09$9,401.44
15๐Ÿ‡บ๐Ÿ‡ฟ Uzbekistan$10,355.09$9,401.44
16๐Ÿ‡ฝ๐Ÿ‡ฐ Kosovo$10,560.17$9,196.36
17๐Ÿ‡ธ๐Ÿ‡ฌ Singapore$10,952.50$8,804.03
18๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia$11,151.63$8,604.90
19๐Ÿ‡ง๐Ÿ‡น Bhutan$11,749.04$8,007.49
20๐Ÿ‡ง๐Ÿ‡ญ Bahrain$11,948.18$7,808.35
21๐Ÿ‡ด๐Ÿ‡ฒ Oman$11,948.18$7,808.35
22๐Ÿ‡น๐Ÿ‡ฏ Tajikistan$12,545.59$7,210.94
23๐Ÿ‡บ๐Ÿ‡ฆ Ukraine$12,744.72$7,011.81
24๐Ÿ‡ฌ๐Ÿ‡ช Georgia$13,143.00$6,613.53
25๐Ÿ‡ฆ๐Ÿ‡ฌ Paraguay$13,143.00$6,613.53
26๐Ÿ‡น๐Ÿ‡น Trinidad and Tobago$13,143.00$6,613.53
27๐Ÿ‡ธ๐Ÿ‡ท Suriname$14,337.81$5,418.72
28๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabia$14,736.09$5,020.44
29๐Ÿ‡ฆ๐Ÿ‡ฒ Armenia$15,333.50$4,423.03
30๐Ÿ‡น๐Ÿ‡ณ Tunisia$15,333.50$4,423.03
31๐Ÿ‡ธ๐Ÿ‡พ Syria$15,532.63$4,223.90
32๐Ÿ‡จ๐Ÿ‡ฌ Congo (Republic Of The)$16,130.04$3,626.49
33๐Ÿ‡ฒ๐Ÿ‡ฒ Myanmar$16,130.04$3,626.49
34๐Ÿ‡ท๐Ÿ‡บ Russia$16,130.04$3,626.49
35๐Ÿ‡ฎ๐Ÿ‡ถ Iraq$16,926.59$2,829.94
36๐Ÿ‡ฒ๐Ÿ‡ฉ Moldova$16,926.59$2,829.94
37๐Ÿ‡น๐Ÿ‡ท Turkey$17,723.13$2,033.40
38๐Ÿ‡ท๐Ÿ‡ด Romania$18,320.54$1,435.99
39๐Ÿ‡ฆ๐Ÿ‡ฑ Albania$18,718.81$1,037.72
40๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh$18,718.81$1,037.72
41๐Ÿ‡ฑ๐Ÿ‡ฎ Liechtenstein$18,917.95$838.58
42๐Ÿ‡ฑ๐Ÿ‡น Lithuania$18,917.95$838.58
43๐Ÿ‡ฒ๐Ÿ‡ฟ Mozambique$19,117.08$639.45
44๐Ÿ‡ช๐Ÿ‡ฌ Egypt$19,316.22$440.31
45๐Ÿ‡จ๐Ÿ‡ฉ Congo (Democratic Republic Of The)$19,913.63-$157.10
46๐Ÿ‡ณ๐Ÿ‡ด Norway$20,112.77-$356.24
47๐Ÿ‡ฆ๐Ÿ‡น Austria$20,311.90-$555.37
48๐Ÿ‡จ๐Ÿ‡ฑ Chile$20,311.90-$555.37
49๐Ÿ‡ช๐Ÿ‡ช Estonia$20,511.04-$754.51
50๐Ÿ‡ธ๐Ÿ‡ช Sweden$20,710.18-$953.65
51๐Ÿ‡จ๐Ÿ‡ซ Central African Republic$20,909.31-$1,152.78
52๐Ÿ‡บ๐Ÿ‡ธ United States$21,088.53-$1,332.00
53๐Ÿ‡ง๐Ÿ‡ฌ Bulgaria$21,307.58-$1,551.05
54๐Ÿ‡ฎ๐Ÿ‡ฉ Indonesia$21,307.58-$1,551.05
55๐Ÿ‡ท๐Ÿ‡ธ Serbia$21,307.58-$1,551.05
56๐Ÿ‡ฆ๐Ÿ‡ท Argentina$21,506.72-$1,750.19
57๐Ÿ‡ฆ๐Ÿ‡ช United Arab Emirates$21,705.86-$1,949.33
58๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria$22,303.27-$2,546.74
59๐Ÿ‡ฒ๐Ÿ‡ฌ Madagascar$22,502.40-$2,745.87
60๐Ÿ‡ฑ๐Ÿ‡ป Latvia$22,701.54-$2,945.01
61๐Ÿ‡ฐ๐Ÿ‡ท South Korea$22,701.54-$2,945.01
62๐Ÿ‡ง๐Ÿ‡ฆ Bosnia and Herzegovina$23,099.81-$3,343.28
63๐Ÿ‡น๐Ÿ‡ผ Taiwan$23,298.95-$3,542.42
64๐Ÿ‡ฎ๐Ÿ‡ฑ Israel$23,498.08-$3,741.55
65๐Ÿ‡ช๐Ÿ‡จ Ecuador$23,697.22-$3,940.69
66๐Ÿ‡ฒ๐Ÿ‡พ Malaysia$23,896.36-$4,139.83
67๐Ÿ‡ณ๐Ÿ‡ต Nepal$23,896.36-$4,139.83
68๐Ÿ‡ณ๐Ÿ‡ฟ New Zealand$23,896.36-$4,139.83
69๐Ÿ‡ฑ๐Ÿ‡บ Luxembourg$24,095.49-$4,338.96
70๐Ÿ‡ฎ๐Ÿ‡ธ Iceland$24,294.63-$4,538.10
71๐Ÿ‡จ๐Ÿ‡ฆ Canada$24,493.76-$4,737.23
72๐Ÿ‡ฒ๐Ÿ‡ฆ Morocco$24,692.90-$4,936.37
73๐Ÿ‡ฟ๐Ÿ‡ผ Zimbabwe$24,692.90-$4,936.37
74๐Ÿ‡ป๐Ÿ‡ณ Vietnam$24,892.04-$5,135.51
75๐Ÿ‡จ๐Ÿ‡ฎ Cรดte Dโ€™Ivoire (Ivory Coast)$25,091.17-$5,334.64
76๐Ÿ‡ฑ๐Ÿ‡พ Libya$25,091.17-$5,334.64
77๐Ÿ‡น๐Ÿ‡ฟ Tanzania$25,091.17-$5,334.64
78๐Ÿ‡ฆ๐Ÿ‡ฉ Andorra$25,276.27-$5,519.74
79๐Ÿ‡จ๐Ÿ‡ณ China$25,489.45-$5,732.92
80๐Ÿ‡ฑ๐Ÿ‡ง Lebanon$25,887.72-$6,131.19
81๐Ÿ‡ฑ๐Ÿ‡ฆ Laos$26,285.99-$6,529.46
82๐Ÿ‡ซ๐Ÿ‡ฎ Finland$26,485.13-$6,728.60
83๐Ÿ‡ซ๐Ÿ‡ท France$27,082.54-$7,326.01
84๐Ÿ‡จ๐Ÿ‡ญ Switzerland$27,082.54-$7,326.01
85๐Ÿ‡ต๐Ÿ‡ฑ Poland$27,281.67-$7,525.14
86๐Ÿ‡ท๐Ÿ‡ผ Rwanda$27,281.67-$7,525.14
87๐Ÿ‡น๐Ÿ‡ญ Thailand$27,281.67-$7,525.14
88๐Ÿ‡จ๐Ÿ‡ฟ Czech Republic$27,480.81-$7,724.28
89๐Ÿ‡ฑ๐Ÿ‡ธ Lesotho$27,679.95-$7,923.42
90๐Ÿ‡ฒ๐Ÿ‡ช Montenegro$28,078.22-$8,321.69
91๐Ÿ‡ฒ๐Ÿ‡ฑ Mali$28,277.35-$8,520.82
92๐Ÿ‡จ๐Ÿ‡ท Costa Rica$28,675.63-$8,919.10
93๐Ÿ‡ณ๐Ÿ‡ฑ Netherlands$28,675.63-$8,919.10
94๐Ÿ‡ง๐Ÿ‡พ Belarus$29,273.04-$9,516.51
95๐Ÿ‡ณ๐Ÿ‡ฆ Namibia$30,069.58-$10,313.05
96๐Ÿ‡ฒ๐Ÿ‡ฐ Macedonia, North$30,866.13-$11,109.60
97๐Ÿ‡ธ๐Ÿ‡ฒ San Marino$30,866.13-$11,109.60
98๐Ÿ‡ธ๐Ÿ‡ฐ Slovakia$31,065.26-$11,308.73
99๐Ÿ‡ฟ๐Ÿ‡ฆ South Africa$32,060.94-$12,304.41
100๐Ÿ‡ง๐Ÿ‡ผ Botswana$32,459.22-$12,702.69
101๐Ÿ‡ธ๐Ÿ‡ฟ Swaziland$32,857.49-$13,100.96
102๐Ÿ‡ง๐Ÿ‡ช Belgium$33,255.76-$13,499.23
103๐Ÿ‡บ๐Ÿ‡พ Uruguay$33,255.76-$13,499.23
104๐Ÿ‡ง๐Ÿ‡ท Brazil$33,454.90-$13,698.37
105๐Ÿ‡ญ๐Ÿ‡ท Croatia$33,454.90-$13,698.37
106๐Ÿ‡ฎ๐Ÿ‡น Italy$33,454.90-$13,698.37
107๐Ÿ‡บ๐Ÿ‡ฌ Uganda$33,654.03-$13,897.50
108๐Ÿ‡จ๐Ÿ‡ฒ Cameroon$33,853.17-$14,096.64
109๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico$33,853.17-$14,096.64
110๐Ÿ‡ฒ๐Ÿ‡ผ Malawi$34,251.44-$14,494.91
111๐Ÿ‡ง๐Ÿ‡ฎ Burundi$34,450.58-$14,694.05
112๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka$34,450.58-$14,694.05
113๐Ÿ‡ฌ๐Ÿ‡ถ Equatorial Guinea$34,649.72-$14,893.19
114๐Ÿ‡ง๐Ÿ‡ด Bolivia$34,848.85-$15,092.32
115๐Ÿ‡ฒ๐Ÿ‡ท Mauritania$35,047.99-$15,291.46
116๐Ÿ‡ต๐Ÿ‡ธ Palestine$35,047.99-$15,291.46
117๐Ÿ‡น๐Ÿ‡ฌ Togo$35,047.99-$15,291.46
118๐Ÿ‡ฆ๐Ÿ‡ซ Afghanistan$35,844.53-$16,088.00
119๐Ÿ‡ญ๐Ÿ‡บ Hungary$35,844.53-$16,088.00
120๐Ÿ‡ธ๐Ÿ‡ฑ Sierra Leone$35,844.53-$16,088.00
121๐Ÿ‡ฒ๐Ÿ‡จ Monaco$35,922.73-$16,166.20
122๐Ÿ‡ต๐Ÿ‡ญ Philippines$36,043.67-$16,287.14
123๐Ÿ‡ฐ๐Ÿ‡ญ Cambodia$36,242.81-$16,486.28
124๐Ÿ‡ธ๐Ÿ‡ณ Senegal$36,242.81-$16,486.28
125๐Ÿ‡ธ๐Ÿ‡น Sรฃo Tomรฉ and Prรญncipe$36,441.94-$16,685.41
126๐Ÿ‡ฎ๐Ÿ‡ช Ireland (Republic Of)$37,835.90-$18,079.37
127๐Ÿ‡ฒ๐Ÿ‡น Malta$37,835.90-$18,079.37
128๐Ÿ‡จ๐Ÿ‡พ Cyprus$38,035.03-$18,278.50
129๐Ÿ‡ฌ๐Ÿ‡ฆ Gabon$38,035.03-$18,278.50
130๐Ÿ‡ธ๐Ÿ‡ป El Salvador$38,831.58-$19,075.05
131๐Ÿ‡ต๐Ÿ‡ช Peru$38,831.58-$19,075.05
132๐Ÿ‡จ๐Ÿ‡ด Colombia$39,628.12-$19,871.59
133๐Ÿ‡ฉ๐Ÿ‡ด Dominican Republic$40,026.40-$20,269.87
134๐Ÿ‡ฌ๐Ÿ‡น Guatemala$40,026.40-$20,269.87
135๐Ÿ‡ฌ๐Ÿ‡ฒ The Gambia$40,225.53-$20,469.00
136๐Ÿ‡ฌ๐Ÿ‡ณ Guinea$40,424.67-$20,668.14
137๐Ÿ‡ฎ๐Ÿ‡ณ India$40,424.67-$20,668.14
138๐Ÿ‡ฆ๐Ÿ‡บ Australia$40,623.81-$20,867.28
139๐Ÿ‡ฌ๐Ÿ‡ท Greece$40,623.81-$20,867.28
140๐Ÿ‡ฒ๐Ÿ‡บ Mauritius$40,822.94-$21,066.41
141๐Ÿ‡ง๐Ÿ‡ฏ Benin$41,221.21-$21,464.68
142๐Ÿ‡ญ๐Ÿ‡ณ Honduras$41,420.35-$21,663.82
143๐Ÿ‡ญ๐Ÿ‡น Haiti$42,017.76-$22,261.23
144๐Ÿ‡น๐Ÿ‡ฉ Chad$42,216.90-$22,460.37
145๐Ÿ‡ณ๐Ÿ‡ช Niger$42,416.03-$22,659.50
146๐Ÿ‡ฐ๐Ÿ‡ช Kenya$43,212.58-$23,456.05
147๐Ÿ‡ซ๐Ÿ‡ฏ Fiji$43,411.71-$23,655.18
148๐Ÿ‡ช๐Ÿ‡ท Eritrea$43,610.85-$23,854.32
149๐Ÿ‡ธ๐Ÿ‡ธ South Sudan$43,809.99-$24,053.46
150๐Ÿ‡ต๐Ÿ‡ฐ Pakistan$44,208.26-$24,451.73
151๐Ÿ‡ต๐Ÿ‡น Portugal$44,208.26-$24,451.73
152๐Ÿ‡ง๐Ÿ‡ฟ Belize$45,004.80-$25,248.27
153๐Ÿ‡ณ๐Ÿ‡ท Nauru$45,378.54-$25,622.01
154๐Ÿ‡น๐Ÿ‡ฑ Timor-Leste$46,597.89-$26,841.36
155๐Ÿ‡ฌ๐Ÿ‡ญ Ghana$46,996.17-$27,239.64
156๐Ÿ‡ฏ๐Ÿ‡ต Japan$47,195.30-$27,438.77
157๐Ÿ‡ง๐Ÿ‡ซ Burkina Faso$47,394.44-$27,637.91
158๐Ÿ‡ฉ๐Ÿ‡ฐ Denmark$48,190.98-$28,434.45
159๐Ÿ‡ฏ๐Ÿ‡ด Jordan$48,987.53-$29,231.00
160๐Ÿด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ England$49,301.82-$29,545.29
161๐Ÿด๓ ง๓ ข๓ ณ๓ ฃ๓ ด๓ ฟ Scotland$50,090.64-$30,334.11
162๐Ÿ‡ต๐Ÿ‡ฆ Panama$50,580.62-$30,824.09
163๐Ÿ‡ฉ๐Ÿ‡ช Germany$50,978.89-$31,222.36
164๐Ÿ‡ฌ๐Ÿ‡ง Ireland (Northern)$51,536.83-$31,780.30
165๐Ÿ‡ช๐Ÿ‡ธ Spain$51,775.44-$32,018.91
166๐Ÿ‡ฉ๐Ÿ‡ฏ Djibouti$52,173.71-$32,417.18
167๐Ÿด๓ ง๓ ข๓ ท๓ ฌ๓ ณ๓ ฟ Wales$52,194.19-$32,437.66
168๐Ÿ‡จ๐Ÿ‡ป Cape Verde$52,372.85-$32,616.32
169๐Ÿ‡ฏ๐Ÿ‡ฒ Jamaica$52,571.98-$32,815.45
170๐Ÿ‡ง๐Ÿ‡ง Barbados$52,970.26-$33,213.73
171๐Ÿ‡ธ๐Ÿ‡ฎ Slovenia$52,970.26-$33,213.73
172๐Ÿ‡น๐Ÿ‡ป Tuvalu$53,887.02-$34,130.49
173๐Ÿ‡ฌ๐Ÿ‡ผ Guinea-Bissau$54,364.21-$34,607.68
174๐Ÿ‡ฐ๐Ÿ‡ฒ Comoros$55,957.30-$36,200.77
175๐Ÿ‡ง๐Ÿ‡ธ Bahamas$56,753.85-$36,997.32
176๐Ÿ‡ต๐Ÿ‡ฌ Papua New Guinea$57,550.39-$37,793.86
177๐Ÿ‡ฐ๐Ÿ‡ณ Saint Kitts and Nevis$60,935.71-$41,179.18
178๐Ÿ‡ฌ๐Ÿ‡ฉ Grenada$61,533.12-$41,776.59
179๐Ÿ‡ต๐Ÿ‡ผ Palau$63,922.75-$44,166.22
180๐Ÿ‡ฑ๐Ÿ‡จ Saint Lucia$63,922.75-$44,166.22
181๐Ÿ‡ธ๐Ÿ‡จ Seychelles$63,922.75-$44,166.22
182๐Ÿ‡ฌ๐Ÿ‡พ Guyana$65,316.71-$45,560.18
183๐Ÿ‡ณ๐Ÿ‡ฎ Nicaragua$66,511.52-$46,754.99
184๐Ÿ‡ป๐Ÿ‡จ Saint Vincent and Grenadines$68,901.16-$49,144.63
185๐Ÿ‡น๐Ÿ‡ด Tonga$72,087.34-$52,330.81
186๐Ÿ‡ฉ๐Ÿ‡ฒ Dominica$73,282.16-$53,525.63
187โ€‹๐Ÿ‡ป๐Ÿ‡บโ€‹ Vanuatu$76,070.07-$56,313.54
188๐Ÿ‡ผ๐Ÿ‡ธโ€‹ Samoa$76,667.48-$56,910.95
189โ€‹๐Ÿ‡จ๐Ÿ‡บโ€‹ Cuba$76,946.27-$57,189.74
190๐Ÿ‡ฑ๐Ÿ‡ท Liberia$77,663.16-$57,906.63
191โ€‹๐Ÿ‡ฒ๐Ÿ‡ปโ€‹ Maldives$78,459.70-$58,703.17
192๐Ÿ‡ฒ๐Ÿ‡ญ Marshall Islands$80,849.34-$61,092.81
193๐Ÿ‡ธ๐Ÿ‡ด Somalia$82,044.16-$62,287.63
194๐Ÿ‡ฐ๐Ÿ‡ฎ Kiribati$82,243.29-$62,486.76
195๐Ÿ‡ซ๐Ÿ‡ฒ Micronesia, Federated States Of$82,442.43-$62,685.90
196๐Ÿ‡ฆ๐Ÿ‡ฌ Antigua and Barbuda$89,412.20-$69,655.67
197๐Ÿ‡ธ๐Ÿ‡ง Solomon Islands$142,581.59-$122,825.06
198๐Ÿ‡ป๐Ÿ‡ช Venezuela$246,530.74-$226,774.21

Venezuela ranks as the number one most expensive country to mine bitcoin. It costs a whooping $246,530.74 to mine a single bitcoin in the South American country, meaning the process is far from profitable. Energy costs are so expensive in the country that miners would be out $225,667.05 for just one bitcoin.

On the opposite end of the spectrum, the cheapest place to mine bitcoin is in Kuwait. It costs $1,393.95 to mine a single bitcoin in Kuwait, meaning miners could gain $19,469.74 in profits.

The Middle Eastern country has some of the cheapest electricity in the world, with one kWh costing an average of just 3 cents. For context, the average cost of one kWh in North America is 21 cents.

The Race is On

Despite the steep costs of bitcoin mining, many people believe itโ€™s worth the upfront investment.

One thing that makes bitcoin particularly appealing is its finite supplyโ€”there are only 21 million coins available for mining, and as of this articleโ€™s publication, more than 19 million bitcoin have already been mined.

While the price of bitcoin (BTC) is notorious for its volatility, its value has still grown significantly over the last decade. And if cryptocurrencies become mainstream as many people believe they will, this could boost the price of bitcoin even further.

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Technology

Animation: The Rise and Fall of Popular Web Browsers Since 1994

This animation shows the evolution of web browser market share since 1994, showing the rise and fall of various internet portals.

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Evolution of web browsers

Animation: The Rise and Fall of Popular Web Browsers Since 1994

In its early stages, the internet was a highly technical interface that most people had difficulty navigating. But that all changed when the Mosaic web browser entered the scene in 1993.

Mosaic was one of the first โ€œuser-friendlyโ€ internet portalsโ€”although by todayโ€™s standards, the browser was actually quite difficult to access. Comparatively, modern browsers in high use today have changed exponentially.

This animated graphic by James Eagle chronicles the evolution of the web browser market, showing the rise and fall of various internet portals from January 1994 to March 2022.

The 1990s: From Mosaic to Netscape

In the early 90s, Mosaic was by far the most dominant web browser. At the time, about 97% of all internet searches were done through this popular web portal.

Web browser% Share (January 1994)
Mosaic97.0%
Other3.0%

Mosaic was the first web browser to display images directly on a page in line with text. Earlier browsers loaded pictures as separate files, which meant users have to click, download, and open a new file in order to view them.

The pioneering portal was created by a team of university undergrads at the University of Illinois, led by 21-year-old Marc Andreessen. When Andreessen graduated, he went on to be the co-founder of Mosaic Communications Corporation, which evolved into Netscape Communications Corporation, the company that created Netscape Navigator.

Netscape was essentially a new and improved version of Mosaic, but since the University of Illinois owned the rights to Mosaic, Andreessen’s new company couldnโ€™t actually use any of the original code.

Netscape became a nearly instant success, and as a result, Mosaicโ€™s market share began to fall. By the late 90s, Netscape had captured 89% of the web browser market.

Web browser% Share (April 1996)
Netscape88.9%
Mosaic7.2%
Internet Explorer3.9%

Netscape dominated the market for a few more years. However, in the new millennium, a new tech giant started to take overโ€”Internet Explorer.

The 2000s: Internet Explorer Enters the Chat, Followed by Firefox

In 1995, Microsoft launched Internet Explorer as part of an add-on package for its operating system, Microsoft Windows 95.

Given the popularity of the Windows franchise at the time, Internet Explorer was quickly adopted. By the early 2000s, it had captured over 90% of the market, reflecting Microsoft’s hold on the personal computing market.

Web browser% Share (January 2000)
Internet Explorer76.6%
Netscape18.4%
Opera0.7%
Other4.3%

Netscape was mostly phased out of the market by then, which meant Internet Explorer didnโ€™t have much competition until Mozilla entered the arena.

Founded by members of Netscape, Mozilla began in 1998 as a project for fostering innovation in the web browser market. They shared Netscapeโ€™s source code with the public, and over time built a community of programmers around the world that helped make the product even better.

By 2004, Mozilla launched Firefox, and by 2006, the free, open-source browser had captured nearly 30% of the market. Firefox and Internet Explorer battled it out for a few more years, but by the mid-2010s, both browsers started to get leapfrogged by Google Chrome.

Present Day: Google Chrome is King of the Web Browsers

When Googleโ€™s co-founders Larry Page and Sergey Brin pitched the idea of starting a Google web browser to CEO Larry Schmidt in 2003, he was worried that they couldnโ€™t keep up with the fierce competition. Eventually, the co-founders convinced Schmidt, and in 2008, Google Chrome was released to the public.

One of Chromeโ€™s distinguishing features was (and still is) the fact that each tab operated separately. This meant that if one tab froze, it wouldnโ€™t stall or crash the others, at the cost of higher memory and CPU usage.

By 2013, Chrome had swallowed up half the market. And with Android emerging as the most popular mobile OS on the global market, there were even more Chrome installations (and of course, searches on Google) as a result.

Notes on Data and Methodology

It’s important to note that the dataset in this animation uses visitor log files from web development site and resource W3Schools from 1999 onwards. Despite getting more than 60 million monthly visits, its userbase is likely slanted towards PC over mobile users.

Further, though Google’s Android platform has a sizable lead over Apple’s iOS in the global mobile sector, this likely slant also impacts the representation of iOS and therefore Safari browsers in the animation and dataset.

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