Topic: Cheap electricity for mining Bitcoin - page 10. (Read 32007 times)

You have to be really reckless to invest in Venezuela. I would ask for gigantic returns to invest there.

why not just set your own miners?

Internet
Individual access to the internet was first authorized in 2008 and access to the internet has increased in the following years.

Turkmenistan ranks among the most repressive and closed societies in the world. The internet is heavily regulated and available only to a small fraction of the population. Censorship is ubiquitous and extensive. Surveillance is significant, and the few citizens who benefit from access to the Internet are closely monitored by state agencies. Self-censorship is common.[30]

Websites run by human rights organizations and news agencies are blocked. Moreover, ordinary citizens have no access to the World Wide Web, and instead are limited to the use of the Turkmenet, an online community in Turkmen language, but effectively a censored version of the internet.Social networks such as Facebook, YouTube and Twitter are not accessible through the Turkmenet.[32] Attempts to get around this censorship can lead to grave consequences.[31] However, only Russian social networks Odnoklassniki and Mail Agent Chatting system are available.[citation needed] In addition to this, there is a newly founded (27 March 2012) local Turkmen social network, E-Dostluk, which is currently accessible.

Internet censorship in Turkmenistan was classified as pervasive in the political area and as selective in the social, conflict/security and internet tools areas by the OpenNet Initiative in December 2010.[30] Turkmenistan was listed as an internet enemy by Reporters Without Borders in 2011.

I pay 0.027 k/wh USD in central Washington state anyone need any miners hosted LOL

I am building a Bitcoin mining data center in Venezuela, a country with very cheap electricity. I am planning on offering full hosting at first for the equivalent of 0.20 USD per KW/h to cover initial costs, then reducing the fee to 0.15 USD per KW/h, or even lower, including space, Internet, electricity, and cooling. No setup costs. You send the equipment, and we plug it in and set it hashing. I would like to gauge interest in such an arrangement.

Naturally there are some risks. As many of you already know, Venezuela is a country with a hybrid regime, terrible property rights, violent crime, civil unrest, very high inflation, censorship, and electricity brown-outs that are a bit more frequent than they should (1-2 times per month for a couple of hours).

Nonetheless, cheap electricity is what a miner needs, not necessarily a very stable supply. If electricity falters too often, I will install power generators since petrol is extremely cheap in Venezuela as well.

Would you put your miners in Venezuela if I were to offer such a service?

My electric is 0.06KWH in USD if anyone wants me to host stuff i'm more then happy to I wont charge much extra to add it in my cluster of miners.

If your 20,000 USD rig consumes 6,000 W of electricity, it would cost you only 860 USD per month total to host it with me. That’s probably what you pay right now only in electricity, excluding other hosting costs. I will reduce the fee by 25% after the first two months when the operation is up and running, and it’s very likely I will reduce fees even further as time goes by. I can further reduce fees significantly because the electricity in Venezuela is virtually free. Your rig can remain profitable even when it cannot pay for electricity where you live.

Cost of electricity in Venezuela is effectively close to 0.003 $ per KW/h. That is 0.3 ¢.