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Topic: Best country on earth for altcoin mining - share suggestions (Read 3130 times)

sr. member
Activity: 2142
Merit: 353
Xtreme Monster
Iceland, that is why they have Genesis mining there. Electricity is so cheap there that Australians transport their aluminium ore to Icelandic factory for it's cheap electricity.

Iceland with taxes and all cost $0.12 per kw. So is not so cheap, now if you are talking about pre-contracts like the genesis mining did then that is a different thing, I mean while i pay 0.12 per kw, genesis pays 0.07 per kw.
sr. member
Activity: 378
Merit: 250
A few country offer some great electricity cost. I like canada, because of the cool weather also. And is also local to me. But i heard kuwuit is very good on electricty price. Somewhere around the 0.01-0.02usd per kwh. Lol even with the hot weather you can afford to run a good cooling solution 24 hours a day.
Im located in asia right now and best price i can get is under 0.10usd.
full member
Activity: 187
Merit: 100
Iceland, that is why they have Genesis mining there. Electricity is so cheap there that Australians transport their aluminium ore to Icelandic factory for it's cheap electricity.
legendary
Activity: 910
Merit: 1000
Well I would go for Iceland as a great country to do altcoin mining since their security it is one of the highest and life risks are low there. Otherwise if you don't care about life risks and are an adventurer there is no better country for mining altcoin/bitcoin then Venezuela ,India or China. The electricity price in these countries is like 0.008 usd/kwatt so it is almost like it is free electricity.
sr. member
Activity: 518
Merit: 250
Must be Island. Electricity costs NOTHING there. The climate is cold so you can easily use it to cool the rigs, and they have like zero crime. I dont think crime excists there. And they have Dominos  Grin Grin
full member
Activity: 602
Merit: 106
Estonia is a nice place to do mining at. We, Estonians, like things that have something to do with IT.

For an example, http://blockhive.ee/ chose Estonia for its "friendship" with cryptos and the praise of information technology.

Cheap electricity and 12 months of "shit skiing weather" are also great plusses for mining Cheesy
member
Activity: 630
Merit: 24
In Georgia,The government is trying to encourage investors,they have created project about freedom business,that's why there are not strict regulations. The mechanism of doing business in this sphere in Georgia is very effective . the biggest expense  of this business is the cost of electricity, which is very competitive in this country  (and regulations are not strict) even with Iceland or Finland.So,Electricity consumption is less and everything is much easier.
newbie
Activity: 50
Merit: 0
You might find this link for electricity and natural gas prices interesting.  http://ec.europa.eu/eurostat/statistics-explained/index.php/Energy_price_statistics

Bulgaria does look like a winner for electric costs based on what I just read there. I was curious about the costs in Romania, since I lived there for a few years (although not recently). About a decade ago Romania was ranked as the #3 country in the world for Hackers, right after the USA and China. Considering that it's a country with a mere ~21 million population I think that's pretty good evidence of the high technical savvy of the younger generations there. I know that crypto is quite popular there and you would easily find lots of people with some experience in it. The downside is that the country is extremely corrupt and the government is inept as well as being as crooked as a dog's hind leg. Electricity is quite cheap (industrial rates in particular), goods are accessible if you have the money to buy them, internet is fast, cheap and stable, and if you were in a city with a higher elevation (Brasov or Cluj-Napoca come to mind) the summer temperatures aren't that bad.

This is a great link man ! thanks
newbie
Activity: 1
Merit: 0
I think that there are some good options in south america. I am in Venezuela and the electricity its almost free and dosnt matther how much is your consumption if you are in some industrial area you can use all the energy that you need; i have my rigs in a really poor area in Caracas and the goverment dont even measure how much you use and is totally free, you dont have to pay taxes or fees to import the hardware and with the hyper inflation you can make the best value of every dollar. Especially if you want to have a big scale operation its ideal you can pay cheap salaries and the rental of a good space even with AC so i see plenty of facilities here
jr. member
Activity: 58
Merit: 4


I live and work in Sweden at the moment. One of my assignments is to find datacenter tenants for a business park, which is a converted paper factory with 32 MW power available. The power price is the spot market price used in the official Nordic power exchange (i.e. the lowest possible).
Free cooling and 20000 square meters of cheap industrial floor space to exploit. I have been thinking of starting up large scale mining there myself for a while.
If you are looking for a site, this is probably one of the best in Europe at this time.

In Sweden, datacenters above 0.5 MW don't have to pay energy taxes. This threshold may drop in 2018 to 0.1 MW.
As you can see in the table above, it doesn't get much lower than this.

This is the map coordinate (Google maps)
https://www.google.se/maps/place/H%C3%A5frestr%C3%B6ms+F%C3%B6retagspark/@58.8055193,12.4248188,17z/data=!3m1!4b1!4m5!3m4!1s0x4644ea6cc45de4db:0x4e176b36d32b2d63!8m2!3d58.8055165!4d12.4270075?hl=en

member
Activity: 406
Merit: 10
I think Asian countries, particularly China and other countries with low electricity cost. One of the main requirement in mining is electricity. So if the cost of electricity is very high, it will not be  ideal to mine. So the lower the electricity cost, the more profitable the mining is. I read that in China, the electricity cost is very cheap, and there are areas with actually free electricity.
newbie
Activity: 20
Merit: 0
Agree, 300 kWh is min that you shall consume to get cheap electricity in Georgia, but our goal is to built mega mining datacenter so we definitely will consume far above 300 kWh electricity  Grin  We are running now pilot project in Kakheti for altcoin mining and our electricity bill do not exceed $ 5 cent kWh.

We are actually preparing for ICO to raise funds for the mega mining datacenter (http://goldenfleece.co - do not comment about web-site  Cheesy we are in the process to upgrade it  Cheesy ). Our project is called Golden Fleece (first Georgian altcoin) and we plan to build the mining datacenter on the land of Colchis in West Georgia; and yes we use green energy as a source of electricity for altcoin mining. You are right there are lots of HPP opportunities in Georgia but we target to use solar and wind power as well (but not big portion of our consumption).

What do you thing about Singapore?


how does low government corruption help mining altcoins?  Huh
if there are zero regulations also?

I also consider Georgia (my home country) as a best place for not only alts but for mining.
You should mention that it's not as easy to get 5-6 Cents per KWh, unless you are consuming above 300KWh. But, there's a big but also, under proper management and under good connections you are able to get your own power plant, small or medium one, last couple years governmental structures are working and in fact supporting people to run power plants, there are some regulations of course, but it's relatively easy to do it. Also consider that there are  more than 25k (yeas! 25 fucking thousand) rivers in Georgia, not all of them are capable to handle power plants, but hey, 25.000+! So My voice goes to Georgia the country!

I am from Singapore.

It's very safe, great for business. However it's right in the tropics and you will not be getting dirt cheap electricity.

I'm not sure how much you will spend on power in datacenters but I doubt you can beat some of the rates quoted by folks here.
sr. member
Activity: 476
Merit: 252
ImmVRse | Disrupting the VR industry
I think China or Russia or Ukraine
full member
Activity: 224
Merit: 100
IDEX - LIVE Real-time DEX
Wake up guys.. Thailand. Cheap electricity and better life  Wink Wink

How much the electricity in Thailand?

I see a lot of people voted eastern europe, just wondering how much per kilowatt in USD? This is really surprise me that eastern europe in the vote, I thought europe's electricity bill should be expensive, or am I wrong?
full member
Activity: 239
Merit: 100
Wake up guys.. Thailand. Cheap electricity and better life  Wink Wink
member
Activity: 116
Merit: 10
Venezuela is a crazy country, here you can mine and pay 1$ monthly for 10 Rigs, Electricity is almost free. But it is not a good country to live, The minimum wage is absurd, like 12$ monthly, and is hard to find food.
legendary
Activity: 1498
Merit: 1030
I've always wanted to visit Argentina. Cold weather (at least in the South or closer to the Andes), cheap electric, lots of beef grown there, and a language that's much easier to learn then most (in my opinion). Smiley

 Quite a few folks in Argentina speak English or German, as I understand it - lot of immigration "back in the day" from both of those countries and quite a few Irish.
 
full member
Activity: 154
Merit: 100
I bet east eu.
But some Chinese place their mining rigs right next to hydroelectric power station, which they can get electricity for almost free.
No one can beat them on profitability,..
legendary
Activity: 1498
Merit: 1030
I didn't know Washington State didn't have State Income Tax.  Now I want to move. lol Cheap electric, no state tax, cool climate, presumably sparsely populated (if not on the coast at least)?  New York city is an albatross around the neck of my home state and it's just dragging all of Upstate NY down into the sewer with it more each year. :/

 Central Washington tends to have hot summer days but cool nights as it's a semi-arid near-desert climate, winters are cool but not super-cold normally (last winter apparently was the "worst on record for a few decades" per long-time locals, but by the Iowa standards *I* was used to it was a WARM winter and average on snowfall).

 Pop density is fairly low except for the SeaTac area and Spokane - largest city in the 3 counties area is a debate between Wenatchee and Moses Lake - Wenatchee wins if you include it's suburbs (most of which are on the other side of the Columbia in the next county over) but even WITH the suburbs I think it's under 40k total pop.

 We're not talking MONTANA level "sparse population", but it's certainly not OVERCROWDED like most of the East Coast or the LA and San Diego areas.



member
Activity: 75
Merit: 10
Taxes are not an issues in Georgia as well; you can develop mining in the Free Industrial Zone and do not pay ant tax!
But anyway seems Washington State can compete with Georgia (country)  Grin
That said, 5 $ cent per kwh in Georgia is like easy thing to get, but it is possible to sign a deal directly with some hydropower plant (if you prove that you are reliable partner) you can electricity somewhere between 2-4 $ cent. But you need to start paying 5 $ cent anyway and after track record that you are consuming stably several MW electricity, then you can negotiate for lower price (well not guaranteed though).

I didn't know Washington State didn't have State Income Tax.  Now I want to move. lol Cheap electric, no state tax, cool climate, presumably sparsely populated (if not on the coast at least)?  New York city is an albatross around the neck of my home state and it's just dragging all of Upstate NY down into the sewer with it more each year. :/
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