Topic: Cheap electricity - page 3. (Read 8091 times)

With that low cost electricity just try and purchase older miners for cheap on sites like ebay or this forum.

If you live where you have access to low electicity cost then ypou can even mine with older generation gear but it takes longer time to profit than newer hardware like S9 antminer.

Hi friends,

After halving day my earning is drop and I shut off my S7. Now I have 5 units S7, can you send the PM about your detail address?

Best regards,

With that cheap electricity it depends only on what you want to mine. If you go for GPU it means you will mine Ethereum as that is one of the most profitable coin to mine with GPU nowadays and with the new GPU R9 480X and make some good profit. I personally would mine with ASIC and the bitcoin because in the long run it can make you huge profit with that kind of price which is almost free electricity.

Sorry guys i never looked at this thread

İ would like to start this project in Turkmenistan. Actually it is even cheaper then 0.01/kwh. İ have many connections there and i try to solve the goverment sided things right now. My friends are looking for a solution.
The thing is if i do it there i need to place many miners otherwise it would not be enough profitable for all that effort.

Edit:  GPU rigs or ASİC miners what would you say ?

Yes I'm very interested to see where OP lives.
Even in most countries you can't get electricity this cheap unless you live close to some power plant.

If you are really getting power 0.01/kwh you can definitely make money even with older miners.

I want to know, where do you contry live? I have 5 units S5 antminer from bitmain and not use about 7 months ago, if I send to you, maybe we can sharing the bitcoin result.

You want cheap electricity come here in philippines in ilocos norte part of marcos windmill electricity there are very cheap. In that place you mine to get a big profits but its only for near there but if in other country you must search where in your places see the cheap electricity.

Having a cheap electricity doesn't mean it's beng stolen. It's simply means that compare to other countries the power consumption rates in Venezuela is much lesser compared to other countries. Well put this aside and in relation to bitcoin it is not wise to put up a mining farm in Venezuela since the country is in chaos
 You will lose big more than a big power bill. It's better to pay high power bill than to go bankrupt and endanger your life in a violent society.

Since the conditions in Venezuela is not normal no body will invest in that country even if you give them free electricity and land. When people find hard to get their normal lifestyle this itself means that people there will take anything whatever they get it.

In one of the s9 threads, members were estimating that you could be profitable as long as electricity was 0.06//kWh or less.
If you are getting electricity for such a low price, even an older miner like an s7 would probably make you money.
(It might take some time but you are getting electricity for basically next to nothing.)

Venezuela has cheap electricity, but the economy crashed. Maybe your miners are stolen if you mine there..

With any investment comes risk.
If someone is willing to take a risk to make a better life for themselves, then I say "GO FOR IT!"

The only way we learn is to try and fail, if you are not willing to risk then you are not willing to learn.
Only the person taking the risk can make the decision for themselves.
Will the decision be good or bad, who cares, as long as you are willing to decide!!

With the level of political and society instability in Venezuela, the concept of "better life style" doesn't even come CLOSE to fitting.

 Definitely NOT worth the cheap electric cost, especially when you factor in at least a few reports of the government there arbitrarily confiscating Bitcoin mining gear....

is legal.. is you live in Venezuela, maybe you need to read more about this country and the cost of services but if you want to have a idea on  how is Venezuela this post maybe help you

https://steemit.com/spanish/@maykor15/soy-venezolano-e-hice-14-horas-de-cola-para-comprar-comida-y-te-lo-muestro

This is why more people want to mining and get better life style.

I would say its a big scam coming in line. Because there is no scope of anybody getting so cheap electricity unless your a theft and taking it for free and if that is the case it wont last longer. And if you say you are getting  it legally then does your own village/town getting it at same rate?

i have this this. in India some states provide free electricity and people tried to run bitcoin mining machines but some of them left it because of the noise and heat releasing from the miner they found it little bit disturbing to their society, and in the end they just got the roi and sold it to other

A new initiative, Scaling Off-Grid Energy: A Grand Challenge for Development, will invest US$36 million to empower entrepreneurs and investors to connect 20 million households in Sub-Saharan Africa with off-grid energy by 2030.
 
The initiative was announced at the US Global Entrepreneurship Summit last month (23 June) by USAID administrator Gayle Smith.

[NAIROBI] A new initiative, Scaling Off-Grid Energy: A Grand Challenge for Development, will invest US$36 million to empower entrepreneurs and investors to connect 20 million households in Sub-Saharan Africa with off-grid energy by 2030.
 
The initiative was announced at the US Global Entrepreneurship Summit last month (23 June) by USAID administrator Gayle Smith.
“Most countries are unlikely to connect their entire populations to grid electricity for years, if not decades”

Chris Jurgens, Center for Transformational Partnerships at USAID and Scaling Off Grid Energy: A Grand Challenge for Development
Power Africa, initiated in 2013 by US President Barack Obama to increasing access to electricity across Africa, and USAID's U.S. Global Development Lab have launched the initiative to empower entrepreneurs and investors to grow a market and connect households living outside the electricity grid with modern, clean and affordable electricity.
 
Partnering with the U.K’s Department for International Development and the Shell Foundation, the initiative aims to build a vibrant market across Sub-Saharan Africa by supporting growth of innovative entrepreneurs to make off-grid solutions affordable for rural families with profitable business ventures as well as catalyse private investments for them to spread to new markets.
 
The Grand Challenge is also set to drive new technological innovation to address market growth constraints in specific countries.
 
Chris Jurgens, director of the Center for Transformational Partnerships at USAID and Scaling Off Grid Energy: A Grand Challenge for Development leader tells SciDev.Net that over 600 million people in Sub-Saharan Africa do not access electricity.
 
“Most countries are unlikely to connect their entire populations to grid electricity for years, if not decades. As a result, many households rely on expensive, polluting, and unsafe kerosene and diesel for their energy needs,” he says.
 
Off-grid clean energy solutions, he explains, provide a market-based, cost-effective way to access electricity for communities off connections. “Off-grid solutions help improve quality of life for households by providing clean, reliable energy that can do everything from lighting up the night for children to do their school work to charging cell phones and running household appliances.”
 
He says off-grid renewable energy solutions, especially household solar sector, is critical to reaching that goal “as the cost of solar technologies is rapidly falling, while the cost of alternatives such as kerosene is rising, making the economics more attractive.” But they are open to supporting other low-cost, renewable energy solutions.
 
They will provide early-stage entrepreneurs with technical support, financial access, drive customer demand, strengthen the marketplace for off-grid solutions and address market barriers.
 
Jurgens says, “Energy access affects us all, but women disproportionately face the greatest energy challenges, and it affects education and economic opportunities.”
 
He adds:  “When women and girls spend their daylight hours gathering firewood and other household chores, they miss out on participating in other activities like education and economic ventures.”
 
Shashank Verma, Head of Advisory Services at the UK-based Global Village Energy Partnership, says Off-Grid Energy Challenge is a welcome initiative. “It is incentivising productive power applications like solar refrigeration, which has huge potential to add value to agri-value chains and create additional income for low-income communities”.

If you ready to pay some money for the answers to your questions then I suggest you to post in the Services section on this forum:

https://bitcointalk.org/index.php?board=52.0

There are many qualified people on this forum and you can employ one of them to get a qualified help.

You can find that in the forums but you do need to look and you have to be very cautious because most of us cannot be trusted.   
I would say to get a 1PH mining operation running you are look at a decent amount of cash $100,000-$300,000.
Even with the latest ASICS you are looking at around 1,000 pieces of equipment.
That's alot of maintenance, cooling, hand holding, development and time.

As far as people are concerned you really need one experienced person, that doesn't have to be local, and a few minions.

I saw this interesting thread a while back https://bitcointalksearch.org/topic/--1072474