Topic: Mining Center in Kuwait - No power cost - no tax (Read 1816 times)

Unfortunately Op never update this thread anymore since few months ago, but I'm not sure about no power cost, as Kuwait have electricity cost:
Electricity and water rates in Kuwait have been revised to encourage consumers to rationalise consumption, Dr. Mashaan Al Otaibi, assistant undersecretary of the ministry of electricity and water for planning and training, said in a statement.

The new rates, that came into effect in the investment sector on Tuesday, are five fils (nearly $0.016) per kWh and two dinars ($6.63) per 1,000 imperial gallons of water, he said at a press conference.

"The new tariffs took force in the commercial sector in May and the tariffs of the government sector will rise from two fils to 25 fils (some $0.082) per kWh and from KD0.8 to KD4 ($13.27) per 1,000 gallons as of November 22, 2017," Dr. Al Otaibi noted.

https://www.khaleejtimes.com/region/kuwait/kuwait-water-electricity-prices-up-by-500-per-cent

It's not cheap I guess, seems normal rate just like in most countries. Yes, there is no personal tax in Kuwait which is convenient to live in this country, but not so profitable for mining farm.

This is really interesting opportunity of in Kuwait there is no electricity cost and no personal tax. I am just thinking then why many companies have still not yet setup their mining farms in this country is it not allowed to outsiders or so? What is the reason for not being doing this long back?

hi there , am from kuwait and am very interesting 

I know a lot of things about middle east. I lived a few years in Israel. What can I say if this is true I see no reason why investors wouldn't come. There are plenty of opportunities.

Even more, personally if there will be anytime when I will have cash I want to invest in Africa, there costs are even less.

I have sent you a PM.

I am a British national who is resident in Kuwait and I would like to meet you to see if we can but a deal together.

I do understand the concern in regards to newbies.  Anyways, If you are familiar with the Middle East, then you realize that we have the lowest cost for electrical power. I DO NOT operate any large-scale mining facility at this point. I believe I made that perfectly clear in my posting. All I am offering is a cooperation with investors who are also interested in starting this business with me.

Seconded,i have read lots of this same type of threads almost everyday where newbie do ask partnerships or investors on a certain project either on mining or on other business plans and as Arwin said better to show some proper visuals regarding on the place that you are mentioning so that we can really see that it does exist and not only a place on limbo. I cant believe that there are some places which do have free electricity cost.

Can you show us a little introduction of exact place on where you are located at aswell as tell what miner are you using on your operation so that we can see if indulging at you is worthfull but well watch this thread after you provide us some valid identificator and little summary on your business. Hope you provide that since we are tired to see those Newbie scammers attempt to scattered their bad doings.

Where exactly in Kuwait is this proposed plan to be located and how safe is it to invest in the middle east considering the chaos there. Hope we will not see the ISIS sabotaging all the equipments and mining themselves for their evil deeds.

I just want to get going within the next two weeks. If your relatives are here, I am more than happy to meet with them.

why is this deal short term? I have relatives in Kuwait that I haven't seen since just after the War, I could fly out and visit - they would also be able to do inspections for me every month.

Yes. The calculated heat-exchange per 100 rigs (~1.5kW/rig) is around 520kBtU.

interested in this - totally free electricity? even that for cooling?

if you want to start mining farm i will give you some of the best mining rig that can payback your investment in just 1\2 months
some of asics that will help you out
antminer l3+ ------------------>1655$
heres more details about the earnning
Profitability table *   Income   Power costs   Profit
Current   0.01485288 BTC/Day (41.26 USD/Day)   0.00069114 BTC/Day (1.92 USD/Day)   +0.01416174 BTC/Day (+39.34 USD/Day)
Past 24 hours   0.00873323 BTC (24.26 USD)   0.00042236 BTC (1.17 USD)   +0.00831087 BTC (+23.09 USD)
Past 7 days   0.09883741 BTC (274.57 USD)   0.00456919 BTC (12.69 USD)   +0.09426823 BTC (+261.88 USD)
Past 30 days   0.50399239 BTC (1400.11 USD)   0.02072932 BTC (57.59 USD)   +0.48326307 BTC (+1342.52 USD)
Expected yearly   6.13190738 BTC (17034.62 USD)   0.25220670 BTC (700.64 USD)   +5.87970068 BTC (+16333.98 USD)
Approximate ROI **   29 Days
--------------------------------------------------------------------------------------------------------------------------------------------------------
Innosilicon A4 Dominator -------------------->1800$
here more details about the earnning
Profitability table *   Income   Power costs   Profit
Current   0.00820148 BTC/Day (22.78 USD/Day)   0.00086392 BTC/Day (2.40 USD/Day)   +0.00733756 BTC/Day (+20.38 USD/Day)
Past 24 hours   0.00485179 BTC (13.48 USD)   0.00052795 BTC (1.47 USD)   +0.00432384 BTC (+12.01 USD)
Past 7 days   0.05490967 BTC (152.54 USD)   0.00571148 BTC (15.87 USD)   +0.04919819 BTC (+136.67 USD)
Past 30 days   0.27999577 BTC (777.84 USD)   0.02591165 BTC (71.98 USD)   +0.25408412 BTC (+705.85 USD)
Expected yearly   3.40661522 BTC (9463.68 USD)   0.31525837 BTC (875.80 USD)   +3.09135685 BTC (+8587.88 USD)
Approximate ROI **   77 Days
---------------------------------------------------------------------------------------------------------------------------------------------------------
Canaan Creative Avalon 7-------------------->818/1000$
heres more details about the earnning
Profitability table *   Income   Power costs   Profit
Current   0.00424778 BTC/Day (11.80 USD/Day)   0.00099351 BTC/Day (2.76 USD/Day)   +0.00325427 BTC/Day (+9.04 USD/Day)
Past 24 hours   0.00239311 BTC (6.65 USD)   0.00061404 BTC (1.71 USD)   +0.00177907 BTC (+4.94 USD)
Past 7 days   0.02698582 BTC (74.97 USD)   0.00657510 BTC (18.27 USD)   +0.02041071 BTC (+56.70 USD)
Past 30 days   0.11604031 BTC (322.36 USD)   0.02979839 BTC (82.78 USD)   +0.08624192 BTC (+239.58 USD)
Expected yearly   1.41182383 BTC (3922.09 USD)   0.36254713 BTC (1007.17 USD)   +1.04927670 BTC (+2914.92 USD)
Approximate ROI **   102 Days
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also dont forget to attach a colling sytem to every asic/miner this will help the asic to survive during the mining
if you want any help you can pm i will replay as soon as possible.

I am German national living in Kuwait since 2005, operating my own engineering firm. I am planning to establish a mining center short-term and are looking for cooperation with investors.
For a 25% partnership, I can offer a 1000m2 fully air-conditioned facility (a/c capacity can be extended) including all required electrical power as well as maintenance and personnel. Furthermore, I offer the possibility to become a resident through the sponsorship of my firm. Kuwait has no personal income tax. It is also possible to establish local bank accounts if required. Minimum commitment shall be USD 50.000. Potential partners are welcome to visit us in Kuwait to discuss the matter and opportunities in detail.