Bitcoin Forum

would you consider 0.08 Cent per kWh cheap nowadays ?

I really hope that you are just trolling.) personally paying almost 4x more. so yes, it is very cheap..

i'm not actually, i've never checked prices, i was lucky a while back and got around 5KW free for a couple of months, and i just realised that i pay 0.08 Cents per KwH so i thought i might start some mining again,

even with cheap electricity like you had I don't think that is good idea to star mining these days. maybe something small just for hobby but nothing for thousands of dollars, risk is to high compared to buy BTC at ~250$ range.

was thinking of buying a bunch of S1s, undervolt them to ~1W per Gh/S or less. mostly for fun hehe, since their so cheap now

ahh for fun and "geek stuff" it is fine with this electricity rates.) anyway, for anything little bit serious is imho better to buy on exchange. omg, I'm just missing good old times with loud hot room, where everything blinking in different colors and generating BTC:(

Those were some good old times, i used to have a Bunch of S1s (about 20) when they just came out, damn things got hot, but it was wonderful :) or back in the days when GPUs were king hehe

Yes, that is pretty cheap. In Germany for example its around 0.26 €/kWh, though it is considered  quite expensive and some other EU countries have a rate of around 0.12-0.14 €/kWh. Still, 8 cents is a pretty good price. Not only for BTC mining, but in general. You can also find plenty of charts online to compare electricity prices around the world.

On that note, I would like to point out that a unit of energy you are paying for is not Kw/H but kWh  ;) ("kilo", meaning thousand, is small k, Watts is a capital W, and time in hours is lower case h) I think you were confusing notation with maybe Gh/s or similar. Check out https://en.wikipedia.org/wiki/Kilowatt_hour (https://en.wikipedia.org/wiki/Kilowatt_hour)

hey, thanks :)

haha yeah most be it :)!

everything under 0.1 is cheap enough nowadays, but a very good cost would be under 0.05 like those china farm, there was a guy that said he was paying only 0.02, almost free electricity

0.08 cent is really cheap compare to the average, but not cheap enough to compete with the giant mining company. Need to be lower then 0.05 cent per kWh.

We should put it in context.  There is electricity that is so high it should not be included when comparing mining electricity rate.  Lots of Europe, high population US cities, etc.  The crazy 20 cent's and up.   Some are crazy expensive.  But comparing to miners 99.9 percent of miners don't mine in that.

I consider around 13 cents top if you are are a smart miner and do it all right, and sell machines at profit.   At .10 I consider this able to mine there is a little margin (summer is harder then winter).

And there are the mega miners, the big companies.  They chase the world for cheap electricity I'm guessing a lot are around .05-.06 area.  Some even better some worse.

But as far as OP yes .08 is good.

I'm surprised that there is still as much mining in high cost jurisdictions. I was even more surprised to see Bitcoin Shop was building a 10MW facility in North Carolina, where the lowest industrial rates are north of 6 cents/kwh, without taking into account set up, cooling and service. I think the next halving will take care of the last "high cost" mines. Anywhere the temperature is above 30 degrees more than 10 days a year is not optimal for mining.

Don't keep mining at higher rates, send your miners to northern Canada for the lowest cost hosting available! (http://www.greatnorthdata.com)

Interesting I have not seen you guys before. Northern Canada seems like you would have some savings for cooling down miners.  Do you have Vat or anything on getting miners to canada?

I think a lot of the newer constructed data centers have been in china.  There is one or two that are very very impressive.   As far as US I think Washington state is where we all wish we were on pricing.

Nope,  I can get half that price in several locations.

Are you sure you can get 0.04 Cent not 0.04 USD? OP is living in a paradise if 0.08 Cent per kWh is the actual price.

Most of big farms in China and Iceland pay about 4 cents per Kwh so it s not so cheap price if we talk about large scale mining. I personally have 7 cents per kwh.

Customs to Canada is typically two or three percent above 5%, being the federal VAT, plus brokerage fee, of the declared value, but it does not appear to be constant. We're not quite sure how they calculate it. The VAT is higher (15% here in Labrador) but they don't typically charge the full provincial side on imports, no idea why.

Cooling here is far easier since we're in the sub-arctic. I should add to my above comment that our minimum contract is for 30kW of hosting.

15 percent vat seems to kill the deal to me.  That is just quite a tax for shipping it to be hosted.   

I would want more savings yet personally to justify that vat price.

As a matter of fact we have a lower power rate here in Sudan, We pay 2 cents per kw .

To be exact , it is 1.81 cent per kw.

That is extremely low.  Do you have to pay a vat or anything?

Looking at a few things it appears there are some regions that do not sound very good. 

We never pay vat for power.

But the weather is hot here. So we need to add extra power for cooling.

But the evaporative cooling which we use is not take too much power to work.

I was meaning vat to import miners.  Not a vat for electricity :)

What's the cost to get access to a stable broadband internet connection in Sudan?

If anyone gets electricity for less than 5 cents per kwh with internet access it could become a nice location for a bitcoin mining company.

I would personally rather invest in a mining operation in Canada, because it's politically stable.

There is a trick companies can do to avoid paying vat for importing.

If you know this trick (Which i know it  :o :o ) you pay nothing for importing.

If you are going to use DSL , you can have access for it with about 40 USD per month with the speed of 4 mbit .

If you need viper optics which will give you a better ping numbers then you need to pay about 1000 USD per month for 10 mbit download/upload speed.

It is expensive for low miner numbers , but for big farm i think the 10 mbit is enough and cheap if you divide it to the number of the miners.

By the way, you can leave your car open here over night and you will find it intact here in the morning.

Don't believe every thing you hear and see on the media.

That's good to know. I actually don't know too much about Sudan, but it seems your legal system is based on Sharia law. Did you learn English in Sudan?


It's not really a 'trick', it's just how international business works. There are agreements to avoid double taxation between many countries and as a company you normally have a VAT ID.

We learn English since 5th class on elementary school till university.

Our legal system is a mix between sharia and UK laws, but in sudanese version.

 

A legit business would have hard time following this procedure.  A legit business would pay vat. Between this and Sudan's warnings online.  I think you will have a hard time getting one of the big miner companies to invest there.  

It's sad with the low electricity price you mention.  And for all I know Sudan could be great.  But looking online it is not gotten the best of reviews.  So it would be a uphill battle to convince a company to come there, instead of a place such as China that is already use to bitcoin and stable.

Good point, I can get $0.04/Kwh which is .04 USD

This ration is competitive. With this, you have a good basis for a farm. Now you only need to be able to design your own ASIC to avoid markup.

Can I ask general location?  That is pretty good price on electricity.

I know that e.g. in Saudi its dirty cheap. But check out https://en.wikipedia.org/wiki/Electricity_pricing (https://en.wikipedia.org/wiki/Electricity_pricing) for pointers.

Yes that is cheap!  I pay about .15 usd, and its tiered so the more I use the more it costs :(  Mining for money in my area is more or less impossible.

that's why hosting exist, you could ask someone to host your devices, if you have a friends that live in a zone where electricity is cheap enough, it could be done, it would be better than trying cloud mining

Here in the Northeastern US I am paying $0.0779USD per KWh, problem is the corrupt and greedy state govt + Electrical company adds another 80% to that for 'delivery charges, and other BULL Taxes'.  :-\

Bastids.

..Otherwise though, average rates in my area are $0.13USD per KWh (+Fees).

That is a good point when you look at electricity cost always add the extra fees.  It sometimes can make a decent difference depending on country.

The best way to get your electricity cost is your bill they send you once a month.  That's what I used to get my "real" electricity cost.

LOL exactly. When I first got into mining I thought that $0.0779 per KWH will make me a killing mining. .. .. Until I realized the extra BOGUS fees the state and electric companies put on.
Such utter BS.