Cheap electricity for mining Bitcoin - page 7.

QuintLeo

legendary

Activity: 1498

Merit: 1030

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.

Which works out to a hair under 20 cents/KWH which is way expensively high.
Too many already existing hosting centers with existing GOOD REPUTATIONS that will host for a third or so of that.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Up-front cost of Solar, especially when you need power 24/7, is STILL very very high vs. just buying power.
Ditto Wind power, which is actually CHEAPER than solar per watt and you can generally get away with less battery since the wind tends to blow any time of day or night.

Both are very dependent on your location, though - Solar works a lot better in AZ or Southern Cal than in Iowa, but wind here generally blows most of AZ and large parts of California away (the Cajon and Tehachapi (sp?) passes being noteable exceptions).

They've both made major strides in getting more competative - but they STILL need subsidies to get close, and they STILL get blown away by Hydropower where that's available (they're getting semi-close to Coal and Natural Gas though, especially given the incredible levels of regulation and REQUIRED retro-fit on most coal plants the EPA has forced on them over the last 20ish years).

xIIImaL

legendary

Activity: 1372

Merit: 1005

Quote from: QuintLeo on April 27, 2016, 04:56:56 AM

Quote from: MantoXie on April 17, 2016, 11:57:26 AM

why don't you think about indonesia ? there electric cost only 0.075/Kwh, and there food also very cheap, and you can live here with low cost with your mine as well, think about it ! you won't disappoint

0.075/KWH is semi-cheap, but not VERY VERY cheap. You can do a lot better even in certain parts of the US, and no worries about (relative) political instability and "foreign intruders" type stuff.

Up side, parts of what is now Indonesia were dominated by the British long enough there's a significant percentage of English speaking folks there.

I would suggest you to go with solar electricity to reduce the power consumption charges to Government. When you do installing Solar panels you have to go big business, because Low budget will not work good for Solar mining.

TommyBitcoin

sr. member

Activity: 350

Merit: 250

Interested in the Power of Bitcoin

Quote from: Sierra8561 on April 06, 2016, 03:46:55 AM

Quote from: Maidak on February 27, 2014, 11:15:02 AM

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.

I'd do the same thing, I've got plenty of warehouse space, climate controlled and. 065 power. I know when I was mining at home my .12 power sucked to much profit.

Tell us more. Where in the U.S.?

What's your experience?

Trust?

PM me!

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: MantoXie on April 17, 2016, 11:57:26 AM

why don't you think about indonesia ? there electric cost only 0.075/Kwh, and there food also very cheap, and you can live here with low cost with your mine as well, think about it ! you won't disappoint

0.075/KWH is semi-cheap, but not VERY VERY cheap. You can do a lot better even in certain parts of the US, and no worries about (relative) political instability and "foreign intruders" type stuff.

Up side, parts of what is now Indonesia were dominated by the British long enough there's a significant percentage of English speaking folks there.

LuxuryPrince

newbie

Activity: 1

Merit: 0

I have always been curious about mining. So now you have a rig costing 20k. Let's assume you spend nothing on electricity, how much will you make aa month?

MantoXie

newbie

Activity: 10

Merit: 0

why don't you think about indonesia ? there electric cost only 0.075/Kwh, and there food also very cheap, and you can live here with low cost with your mine as well, think about it ! you won't disappoint

Sierra8561

sr. member

Activity: 546

Merit: 253

Quote from: Maidak on February 27, 2014, 11:15:02 AM

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.

I'd do the same thing, I've got plenty of warehouse space, climate controlled and. 065 power. I know when I was mining at home my .12 power sucked to much profit.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

Quote from: Gahs on April 05, 2016, 05:39:00 AM

Quote from: xenog on February 25, 2014, 12:44:30 PM

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?

The cheap cost is alluring but this civil unrest you mentioned has got me thinking: I hope I don't get shot on my way to get a burger.

There's always risk involved for profit; in this case you COULD get shot while trying to get a bag o chips. I'd put my miners in Venezuela but seriously the risk is way lower than the reward. 0.2/kwh sucks for elec alone, but coupled with cooling it's an ok deal

Gahs

sr. member

Activity: 294

Merit: 250

Minter

Quote from: xenog on February 25, 2014, 12:44:30 PM

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?

The cheap cost is alluring but this civil unrest you mentioned has got me thinking: I hope I don't get shot on my way to get a burger.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: ALToids on April 04, 2016, 07:43:32 PM

Quote from: Amph on April 03, 2016, 02:44:41 AM

Quote from: samlanhan1 on April 02, 2016, 08:58:07 PM

Quote from: Erumara on March 31, 2016, 02:44:14 AM

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

i remember my highest bills was above 600 euro, nearly 700, but the price per kw/h here is very high, up to a maximum of 25 cent per hour

Are you in California? I think that state has the worst rates for all of the US. I think somebody in San Diego said they were paying 0.32 or something.

no in italy, but it was a sum of multiple bills, due to the fact that the first one was wrong, so the latter one increased too much

ALToids

hero member

Activity: 519

Merit: 500

Quote from: Amph on April 03, 2016, 02:44:41 AM

Quote from: samlanhan1 on April 02, 2016, 08:58:07 PM

Quote from: Erumara on March 31, 2016, 02:44:14 AM

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

i remember my highest bills was above 600 euro, nearly 700, but the price per kw/h here is very high, up to a maximum of 25 cent per hour

Are you in California? I think that state has the worst rates for all of the US. I think somebody in San Diego said they were paying 0.32 or something.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: samlanhan1 on April 02, 2016, 08:58:07 PM

Quote from: Erumara on March 31, 2016, 02:44:14 AM

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

i remember my highest bills was above 600 euro, nearly 700, but the price per kw/h here is very high, up to a maximum of 25 cent per hour

samlanhan1

member

Activity: 73

Merit: 10

Quote from: Erumara on March 31, 2016, 02:44:14 AM

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

Erumara

full member

Activity: 140

Merit: 100

I mine because math

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

KennyR

hero member

Activity: 2310

Merit: 532

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: Zuminest on March 29, 2016, 04:54:01 AM

as electricity is the core thing that drives bitcoin, one needs cheap electricity.. in very early days mining is effectively done with CPU's and GPU's... solar mining can be used as cost is low compared with other methods...

Solar mining can be prioritized only at certain locations, because everywhere solar mining will not be much effective as electricity generated through other means.

Zuminest

full member

Activity: 169

Merit: 100

as electricity is the core thing that drives bitcoin, one needs cheap electricity.. in very early days mining is effectively done with CPU's and GPU's... solar mining can be used as cost is low compared with other methods...

avw1982

hero member

Activity: 644

Merit: 500

Quote from: n0ne on March 27, 2016, 01:21:03 PM

Venezuela is the country which has the lowest electricity charge. At present due to the bad market of oil, Venezuela might have imposed a increase.

Oh thats good to hear bro. But You guys can try to go with Solar mining It will reduce the charge of electricity consumption. I would suggest you to start with big mining company make something good income in mining.
If you have Idea to start a small scale one, Please go with normal electricity itself.

sale666

member

Activity: 63

Merit: 10

Quote from: Betwrong on March 20, 2016, 11:15:44 AM

Quote from: sale666 on March 20, 2016, 04:24:01 AM

So your KW/H is 0.20 us cents?
Mine is about 0.059 domestic electricity :/..
And if over 7KW is used than i have ti use industrial power and its priced at 0.15 cents per KW.. However it can take months heck even years in my country until they figure out you are using more than 7Kw.. Grin

How's that possible? Don't you have a charge register or a counter (idk how it's called in your country)? Where I live all houses and flats have a charge register which is sealed by the company providing you with electricity to make it impossible to change the counter reading.

Its because you get the bill in the mail and if you go over 7KW once its ok no problem but if its constant YOU have to go register YOURSELF that you are using more.. lol yea right ill do that.. And no 1 gives a fuc* they just send you bills and thats it but sometimes they go and check but as I said that happenes rarely.. I live in Croatia..

Theres even limitators that you have to install like you cannot use more than 5KW or you can buy additinal 1KW for like 200$ installment of power domestic use BUT they install that if you use the government electricity thats why you hire an individual to do the electric job in house and he doesnt put that and than its a wait game untill they figure it out... theres no fines or anything he simply "forgot" rofl... strange country mate Cheesy

kanazawa

hero member

Activity: 756

Merit: 500

omg, this electricity "thing" is a kilometric conversation, it has no end...

venezuela, washington, north eastern europe, underground in china, but one thing I say with lotta propertie, don' t come to brazil to mine, you gonna lose everything and you'll pay to work, no chance to earn somethin. ahhahahaahah.

Topic: Cheap electricity for mining Bitcoin - page 7. (Read 31997 times)