Cheapest electricity in the world | Bitcointalksearch.org

keychainX

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Quote from: Endgameuser on April 06, 2012, 09:40:40 AM

I am wondering which countries in the world have the cheapest electricity, and would thus be ideal for mining bitcoins.

I am from Australia, and I can tell you that we have some of the most overpriced electricity in the world, meaning I will probably need to go overseas if i want to mine competitively.

Venezuela and Iran

yesyes18

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Quote from: BitMaxz on September 12, 2019, 08:00:36 PM

Quote from: yesyes18 on September 12, 2019, 06:00:20 PM

Looking at the statistics of Bitcoin mining, it can be concluded that people normally make their mining farms in China This could be due to a number if reasons of which cheapest electricity may be a part of. So i think you can check out on China to see how how much money you can make when you work in China

China is not the cheapest Electricity rate it might be cheaper than here in my country but not the cheapest rate.

You can check this list of Electricity rate from here "Electricity rate WorldWide Chart"
According to the chart, the cheapest one is in Burma country which is 0.02 cents. China is around 0.08 cents so it still high not good for altcoin mining.

That's true but let's not forget the focus if discussion pertaining to cheap electricity. Is it safe to mine in the Burma country you mentioned? As in tbe weather/climate and accessibility to servicing of rigs as well as purchasing of necessary accessory equipments and then correlated against electricity price. That would be a good analysis to do first.

BitMaxz

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Quote from: yesyes18 on September 12, 2019, 06:00:20 PM

Looking at the statistics of Bitcoin mining, it can be concluded that people normally make their mining farms in China This could be due to a number if reasons of which cheapest electricity may be a part of. So i think you can check out on China to see how how much money you can make when you work in China

China is not the cheapest Electricity rate it might be cheaper than here in my country but not the cheapest rate.

You can check this list of Electricity rate from here "Electricity rate WorldWide Chart"
According to the chart, the cheapest one is in Burma country which is 0.02 cents. China is around 0.08 cents so it still high not good for altcoin mining.

yesyes18

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Looking at the statistics of Bitcoin mining, it can be concluded that people normally make their mining farms in China This could be due to a number if reasons of which cheapest electricity may be a part of. So i think you can check out on China to see how how much money you can make when you work in China

Lauren Smith

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Quote from: Jurema on April 08, 2012, 09:49:01 AM

Quote from: alexbishops on April 06, 2012, 01:21:45 PM

Have you considered solar power? You could create a free to run miner that only runs during the day.

Or, get some rechargeable batteries, have it running day and night Wink

Solar panels.. all you need.
Although the investment at first might be a bit steep

It can't generate during night -_- you obviously need a capacitor to store the power. Point out more obvious things for us please.

Quote from: alexbishops on April 07, 2012, 08:14:58 AM

Quote from: DeathAndTaxes on April 06, 2012, 04:14:16 PM

Quote from: alexbishops on April 06, 2012, 01:21:45 PM

Have you considered solar power? You could create a free to run miner that only runs during the day.

Solar isn't free.

Tell you what I'll sell you all the free solar you want.
You pay me $10,000 per KW upfront and I will provide you lifetime "free" power.
How many "free" KW you want to buy right now?

I concur. However providing the solar panels don't stop working they retain value. So so long as you are able to make more money out of mining than the difference between the resale value of the panels and the original price you will be making a net profit. This is obviously more risky than simply paying for the electric as normal. I only thought of this because Australia's a pretty sunny place.

This is true. I have looked at it and over about 5-10 years you will have paid it off and then it will pretty much be free (almost) you still need to maintain the solar power pads and replace capacitors and other things every now and again but it will be the cheapest electricity you ever paid for, you could even start selling back to the grid.

UserU

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Quote from: tukagero on September 10, 2019, 09:17:55 AM

In my country (philippines) were i pay almost 50$ per month with only 3 appliances. But in summer i pay more than 100$ because of using aircoin. So it is difficult to mine bitcoin here because the electricity is expensive.

If you could brace the heat then you'd see huge savings

wattcrypto

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I know in the states it's Washington state because I had a friend who used to own a mining operation there

tukagero

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In my country (philippines) were i pay almost 50$ per month with only 3 appliances. But in summer i pay more than 100$ because of using aircoin. So it is difficult to mine bitcoin here because the electricity is expensive.

Indamuck

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The absolute best rate is free, there are a lot of miners that have free electricity through various agreements. Some have it included in their monthly rent, electric companies using their land so they get free electricity, or subsidized by the government.

Retina

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Quote from: cizatext on September 09, 2019, 06:27:28 AM

In my opinion I think any one going into bitcoin mining should consider solar energy instead of electricity because it cheaper and more environmental friendly.

I agree with you. Instead of electricity, solar power is cheap and environmentally friendly. And it balances the environment. However, Turkmenistan possesses the world sixth largest reserve of natural gas resources. Most of the country is covered by the karakum desert. From 1993 to 2017citizens received government provide electricity, water and natural gas ferr of charge.

Toplistico.com

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currently Kuwait Electricity rates are the cheapest in the world (0.73 Cents / kWh) but to mining, I don't think it's profitable because the temperature in their country is around 32 degrees celsius, so the miners have to prepare coolers and that adds to the expense.

The best choice for mining is the Kyrgyz Republic with electricity costs (3.70 Cents / kWh) and the temperature in their country is 8-10 degrees Celsius, so the miners do not need to add costs for the cooler.

cizatext

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In my opinion I think any one going into bitcoin mining should consider solar energy instead of electricity because it cheaper and more environmental friendly.

cryptobaro

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As for my country (Turkey) electricity is expensive so mining is not profitable to be honest. In some parts of Turkey, people establish illegal electricity do create mining rigs, I see them on the new so often.

akram143

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Countries that produces electricity from nuclear reactor and old traditional way of charcoal burning can be able to deliver the electricity for cheapest at the current time period but this will definitely change in the coming years because when government using renewable sources to produce electricity can give more cheaper.

CryptoCADCAM

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For electricity check SunContract you will see a really awesome peertopeer energy trading platform.

kripto para

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There was a chart or a website with the electricity cost around the world for Bitcoin mining, cannot find it atm tho.

remauto1187ma

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Quote from: softsaucy6 on March 24, 2018, 12:24:44 AM

as far as I know iceland and ukraine has the lowest price and its as much low as 0.04$

mine is .048 and im in Indiana

PJFry

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Quote from: remauto1187ma on March 23, 2018, 10:54:49 PM

Quote from: Cryptomoom1007 on March 23, 2018, 07:08:31 PM

Consider solar please. Else India China have cheap electricity

Solar is FALSE ECONOMY and costs more for startup and payoff is well past the life of the storage batteries x2-x4.

Agreed. But hopefully with enough subsidizing and time it will become profitable on its own. Tesla's batterys for homes may eventually come down in price where it becomes feasible.

likki21

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According to my understanding, electricity tariffs should be relatively cheap for hydropower generation, but hydropower generation has seasonal problems. Hydroelectric power is cheaper than solar power generation.

Really cheap electricity to be based on different countries, like Chile, Australia

softsaucy6

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as far as I know iceland and ukraine has the lowest price and its as much low as 0.04$

Topic: Cheapest electricity in the world (Read 43807 times)