Bitcoin Forum

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

wow, internet speed was fast too am i right? i hope miner there have equiped by the best rigs if in my country electricity was not that cheap but not expensive though, goodluck for mining

$0.10 is fine but not that cheap to attract big investors. I know there are people who pay $0.06 for the electricity. I pay $0.12 and barely making any profits with my small rig.

People are investing in solar panels/wind turbines now mostly.

your electricity can be considered "cheap" but at the same time you are forgetting about another electricity consumption and that is for cooling. Africa generally has a hot temperature so depending on where you live you may have to invest in a lot better cooling equipment and also spend a lot of electricity for that. which means your total cost may be higher than others in other countries with the same electricity cost.

what mindrust said above me gave me a nice little idea though! you may be able to buy solar panels and generate some electricity that way since you have a lot of "sun"!

If you are having so much cheap electricity in Africa then just invest to buy some bitcoin miners or GPU start from the small and later you will buy a better one. So it will give you hundred percent profit if your electricity price is so low. Or for other countries also there is another way you all can use solar power also for mining Bitcoins. But it needs a little bit more investment.

You are very lucky to pay for cheap electricity in your country however mining bitcoin is capital intensive to make any profit you spend huge amount of money to import mining equipment considering the fact that competition in mining is increasing daily.

If you get into renewable energies like wind turbine and solar energy then you can make good profit with altcoin mining. Even GPU prices are falling now and it may be the time for more miners to get in. Though 0.1$ per KWH is not that cheap but good to go.

I live in Russia our rate is 0.05725332 USD it is even cheaper than you

Higher temperatures can be to your advantage, if you want to supplement the cheap electricity with solar power.  ;) Also, they have some mountain areas with some very cold temperatures. Mount Kenya is the highest mountain in Kenya and the second-highest in Africa, after Kilimanjaro. The highest peaks of the mountain are Batian (5,199 metres (17,057 ft)), Nelion (5,188 metres (17,021 ft)) and Point Lenana (4,985 metres (16,355 ft)).

Source : Wikipedia : https://en.wikipedia.org/wiki/Mount_Kenya

So you have the best of both worlds, if you relocate to these areas. The question is how reliable is the electricity supply in these countries and how safe are some of these countries for Westerners. I think they border Somalia.  ::)

If that's the case, I'm pretty sure that Africa will be a miner's paradise someday. I hope that mining will be fully legalize on your country and I'm pretty sure that it will bring a huge positive impact on your economy. Here in my country, the rates per kilowatt changes depending on the weather so crypto mining here will bring you misfortune. Haha!

I don't know if Bitcoin is legal in the continent of Africa but as this place was known for such high temperatures which i believed it will favor the renewable energy system by using solar energy for the electricity consumption then of course the cost of the electricity will become cheap. Here in my country electrical cost is much expensive because we don't use renewable energy so if there are some businessmen that will engage in Crypto mining projects them maybe they will consider you place in the future.

omg that's excessively cheap? is this real?  :o :o :o

Cheap electricity is all right but have you guys ever considered about the increasing network difficulty? Its been long since the difficulty is rising and rising all the time. I know electricity plays a role into this but eventually it wont matte when you will need nigger has rates to cop up the current difficult situation of the mining.

Cheap or free it will just matter by 2-5% or less in terms of recovering your ROI. What we need to look after is better source of mining operation in terms of hardware itself. It should be cheaper itself and more powerful than anything.

About the solar energies, well the investment into it will be far bigger than anything so its not worthy.

it turns out the cost of electricity in your country is cheaper than in Africa, for the miners it is highly prioritized because every active device is in dire need of high power, but if the cost of electricity is cheap it will be very profitable

Cost of electricy is not only the deciding factor why someone would want to go into mining, considering that alone only to realize its more than that would end up abandoning such investment. Like someone have rightly stated, the atmospheric condition of Africa is not compatible with bitcoin mining and to meet up with such condition of having those giant cooling system would end up increasing the cost of mining beyond what you might imagine considering the amount of investment needed to break even.

just because you have cheaper electricity it doesn't mean you should jump into mining. mining cryptocurrencies is not something that is suitable for everyone. it requires an initial investment and also a dedicated space to put all the equipment and cooling systems and you will have to endure the noise of it all.
on top of it you should also be aware of the volatility.

You are very lucky to pay for cheap electricity in your country

If it were like that we would have had a few Kenyans at the winter Olympics.

Besides, most of those mountains are in wildlife parks and far away from the cities with little to now infrastructure around.
And the rates are not that cheap, it's close to what Eastern Europe is paying

Combined with poor infrastructure, security, unpredictable politics I would stay out of it.


The difficulty doesn't matter in the long run.
All the miners are competing with the same costs, rent for the space, internet connection and electricity.
And the ones with lower price per kwh will stay in the game, the others will have to sell.

At one point we're going to reach the equilibrium where the reward is barely above the costs to run all those miners.
A bit like the oil industry.

The use of solar energy can be so viable in the African continent since this is known to have a hotter climate with plenty of sun time available. Though with solar you need to invest a chunk of money for the equipment but over time the electricity produced can get cheaper and cheaper. I am hoping that more and more African entrepreneurs will venture into cryptocurrency mining exploiting the resources they can find on their own locations. As cryptocurrency is here to stay for sure, the opportunity to make money in cryptocurrency mining is expanding since we are not just talking about Bitcoin here...though just like in any other business ventures balancing on different factors has to be handled well.

Africa is great due to its climate and sun. But mining in Africa? Hmm. That`s a tricky question. The electricity is cheap there according to some research but if one wants to fully devote himself or herself to cryptos and mining the choice is to move or emigrate to this continent. It can be a very hard burden to carry. Not everyone will agree to do so. But spend some time a year while doing buisness there - why not?

Then many investors should look for mining in Africa so that they could profit more because the electricity is so low.

This could be a very great idea I guess because electricity play a very vital and crucial role in mine my of bitcoin and this is very great that electricity is about 0.1 per kWh , I think this is very cheap rates and in my country the electricity rates for about 5-6₹ per kWh and I guess this is quite expensive as compared to Africa and moreover the climate conditions and other factors are also very good in Africa so yes for the bitcoin whales who mined bitcoins in very big amount can think of this idea.

Some part of Russia are also cheaper but i guess its cheaper in Africa.

It's a very good idea to be used by investors, with very cheap electricity prices that can make a huge profit for the miners, because in most countries miners always complain about the cost of electricity to mine.

You have a good source of solar energy and making solar power generator of power bank from the sun is amazing in your country for you have the heat needed to produce solar energy and helps you with your electric bill as well, you have the advantage when you want to do mining Bitcoin since you pay little with your electric bill, just select the proper machine to keep your mining machine in a moderate temperature.

Please do you really have value for this because in most of the African countries, electricity supply is quite unstable. As a matter of fact, people who want uninterrupted power supply use power generating set most times. I am in Nigeria and power is not stable here, though it is considerably cheap.

The electricity is very cheap but since the temperature is very high the mining rig will have a higher chance of overheating. And if you place cooling system the electricity expenses will be the same with other miners on other countries. To answer this problem I guess the only solution is to install a solar power panels to power up the mining rig operation. With these alternative energy supplies the miners will not only save in power but also in monthly power bills.

The rate of $0.1 is alright but you have to account for many things due to your location. Living in Africa there are many natural restrictions such as heat, in order to keep up with this heat problem you are going to need to pay more for electricity simply just for cooling. I believe at this current time best way to profit is off of Solar panels, Wind Turbines and other ways of producing electricity naturally.

I pay about $ 0.08 per 1 kwh

The point is not only in the cost of electricity but also in the safety of equipment, since it is very expensive

wich part of africa?

If your country of africa has cheap electrcity it is good to mine bitcoin and altcoin there because only few months the capital you use can back again. Your right other country has expensive electricity cost. If Im there I will mine and I will start earning more money for sure and I think after few years I become millionaire. But to those people who are want to mine that 's not easy you need plan.

 I live in Ukraine.My country is rich in natural resources .in my country, the price for 1 kilowatt is$0.10.because it is not surprising that we have so many miners

wow, that's very cheap, in my country we are charged about $ 0.46 / kWh, and of course, this is a high cost to open Bitcoin mining or another cryptocurrency.
because the electricity in your country is very cheap, it is very profitable if you open the cryptocurrency mining there.

Its a good thing to have cheap electricity but you also need to consider the temperature when you are mining. Those devices can go crazy when the heat goes up and you need to invest on heating system as well. You also need to consider the electricity supply in your area. If the supply is unstable then you will have problems on your devices and it can affect your productivity.Most of the countries with cheap electricity have unstable electricity.

At a cost of $ 0.1 for 1 KWH it is very cheap to use, and it is very good and suitable for those big bitcoin mining businessmen, in my area the cost of electricity is very expensive.

Is it really so cheap electricity in Africa? I've always thought that electricity is expensive in Africa. In addition, it is very hot there, you need good equipment for cooling. The cheapest electricity, I think in China. That's why there are so many miners.

And much colder. On top of that land in Russia is very cheap and you can also get rent out some abandoned factories that you can put your miners in. There's a lot of abandoned industrial structures with power in the former Soviet Union.


I don't believe people will be standing in lines to set up businesses in Ukraine due to its unstable political situation.

I think you don't even know the prices of electricity in your own country..
Based on your own national energy provider the rates are at maximum 0.10$ per kwh.
And even the most expensive energy in the world is barely at 40 cents per Kwh.


Actually, even if it might sound weird, higher temperatures are bad for solar panels, they tend to get hotter and have a reduced efficiency of up to 25%. Best temperature is around 25 C, an average of 30 C and you're losing money.

That's very nice. It is true that all of you people that involves in this field will be much profitable than in other countries that do the same way too. A lot of people really wants to involve in mining but some of them doesn't able to support or settled the needed things to start it and of course it really has a high electricity consumption that's why some of them are really worried because they think that they can earn a huge profit from it.

I agree 0.1 $ for electricity will be low as compared to my country.But I know ,in Africa the temperature is high compared to my country.For the Mining,we need to consider two things.One is the Electricity bill and second one cooling system.In Africa,I need to spend more money for cooling system as compared to my country.

Fantastic thats very cheap compare with my country. In my country bill of electicity is too high i think twice to start mining. Not  only electricity but also internet connection and space for mining machine. Im not ready for start mining.

That's true,  when having a cheaper electricity cost will sure benefited and much profited to all the miners because one of the issue in mining is the high electricity consumption. Well, the miners there is so blessed because they have the less cost of electricity.

You pay cheaper than in Europe countries, but do you sure that this bargain from electricity will cover your loses on cooling your systems ?
Because, the temperature in your country could higher than in Europe countries. Think about it, too.

I belief it will be very economical to mine bitcoin in your country however there are other factors that you need to put into consideration like do you have a fast and cheap internet facilities? how do you take care of the excess heat emission from your mining equipment? cost of maintenance ? if all these can be taken care of then you are good to go in your venture.

In my knowledge this place was known for such high temperatures that I believe that it will support renewable energy by using solar energy for power consumption, every active device needs high power terrible, but if electricity costs are cheap, it will be very profitable.

there are countries with a cold climate, where electricity costs $0.016. it is unlikely that you will compete with them, except for the costs of bitcoin production you will have a large share of the costs of cooling this production.

it is very true that a country with a cold climate is more profitable because it does not really need a cooler to cool the rig,
and at a cheap price would be more profitable, while in the hot african air would need extra cooling because the air is hot
its costs will increase for maintenance.

Yes I think that's good, but it's better if offset by easy internet access.
Hot temperatures in Africa are also quite extreme, it will also be easy to make your device hot and this will certainly cost you more to cool your device.

besides the cheap electricity when we want to start mining we need to see the place too, is the place is good for mining or not, and of course, we need a stable network, is the place and the cost of electricity is good how about the network connection? if not supported stable network we can't do mining  on that place

It's great ppace for cryptocurrency mining. But need extra cooler there. Electricity price is not the only one aspect that we have to concern in. We should consider about other aspect like weather or political condition.

I am not sure here how much it is but I guess if I put solar panels I could probably do a little mining as well, but it's something I haven't thought about as yet. You are very clever in Kenya having cheap electricity and utilizing it to print your own money as it were. Are you thinking of just mining Bitcoin or mining other coins as well in the near future or further down the road/ Would be interested to see what you do in the end.

Electricity costs is less in Africa then the chance of mining is good there and if we start mining there we can get a good bitcoin and with this low cost Africa is good for starting industries there.

I think it could even be better with a solar farm since Africa is generally hot and the electricity fee could be negligible should serious miners adapt to using solar energy to power their miners in africa.

Poor electricity is a problem here,no one cares about the light issues, not even the private sector like KWH who are taking it upon their self to provide cheap light.

cheap electricity doesnt mean youll get a good profit on it, you should count how much money do you need to spend for internet in african country. i mean theres so limited and hard to find, the price will be so high. another one thing is african region mostly have a hot temperature, you should count how much money do you spend for cooling the mining rig.

But you need to be aware of policy issues, because sometimes bitcoin mining is not allowed in that country.
So I suggest you know the local policy in advance.

It's a little bit cheaper than in my country which is located in Europe. Temperatures in Africa are much higher so we would have to use more electricity on air conditioning anyway. Are there many mining farms in your country? Is it safe to mine there? I mean that there might be some mining equipment thiefs. Installing sollar pannels seem like a very good idea since the weather in Africa is usually full of sun. It might be an interesting project but it would require a huge investment. Some investors might prefer to invest in a country which is closer to them.

The statement is relative,you cannot generalise it,several countries in Africa still have electricity issue, have been to several countries in Africa, electricity is a problem, good that you have cheap electricity in  Nairobi at least other countries in Africa can speed up there game.

in Africa, too, comes night. ;) For the production of solar energy will require significant system reserves power for the night. also, we have security in Nairobi, whether the price of protecting high value targets is needed. How long will the mining farm payback period for 5 megawatts of electricity?

Less expensive electricity in Africa may be in Africa using solar power plants that are relatively cheap compared to other power plants.

Whoaaaa.... you're place is supported to become Miner ;D just buy the GPU and start mine hehehe... don't mind about Electric bills.
by the way i live in Asia the bill of electric so expensive

Invest what ever you have for buying miners and also use solar energy for electricity as there sun rays are also powerful..You can make a lot of profit.

Wow, I thought electricity in Thailand was cheap, but it is about $.12 here. There are still plenty of people mining here, so it still must be profitable. How is electricity so cheap in your country? From hydroelectric power?

The electricity bill in my country is as cheap as yours. Everything is very cheap and my country is an export hub. So my country and you would be a good place to exploit Bitcoin. In addition, electricity prices can be negotiated for nearby power plants and interest rates will increase further.