It would work, except now, you are making 100 times less coins. You go figure it out.
I'm telling you, ~$300 is the electricity cost of mining one coin.
Care to back that up? I only ask because my anecdotal evidence says you're wrong.
plug in, BFL minirig: 480GH/s, 2500W, 0.22 cents per kWh, electricity cost works out to about $13.20 for 0.04 btc. add another $4.5 for AC, or $17-18/day
You think 0.22/kWh is high? The published rates in Canada (probably the same in US) are 0.06-0.12 but we are paying 0.22 to 0.25 after all taxes, transmission charges, service charges etc.
Every two weeks we get another 10-20% decrease in earnings, pushing the cost of mining per coin even higher.
Big farms might have better efficiency, lower power cost, but they have to include rent or depreciation, property taxes, other overhead of employees, insurance etc. The cost per coin is around $300, IMHO.
If your cost with bitfuries or knc is lower, consider yourself lucky.
EDIT: updated the numbers
BFL? That explains your numbers... The backbone of the hashing network is on 55nm or less. Most predominantly KnC @ 28nm, Bitfury at 55nm, Bitmaintech @ 55nm, and Avalon @ 55nm. Bitmine's A1 is getting pumped out of China's backdoor now as well which is at 28nm. The worst of the bunch is at 2 J/GH and FWIW BFL's 65nm consumption is >6 J/GH. So yes, 300$ per coin at current difficulty if the network was being run predominantly on BFL tech, which it isn't. If you consider the increase in efficiency of modern gear over BFL's garbage then you'll end up at the ~$100 a coin noted by myself and others.
