Yeah that electricity is too good to be true.
Bad thing is even ifyou got it for free you won't get ROI on your miners. The difficulty is just too high.
Just look at
https://bitcoinwisdom.com/bitcoin/difficultyEstimated Next Difficulty: 174,437,386,800 (+21.04%)
And remember we were at 65M in november (just 3 months ago).
This is pretty much nonsense as a power rate of zero has a decent chance of getting roi.
You are basing his chances on a 90 day span with a really high growth rate.
sept 2014 to sept 2015 = more the 360 days and the network 2x
oct 2015 to jan 2016 = 90 days and the network 3x
So if we go back to the slower rate he will do okay.
Short term next 90 days we could do 3x again after that we will slow or die
However your statement would be true at a higher rate for power. 10 cents is pretty bad to roi.
he will spend about 4300 watts this is 4.3 x 24 = 100 kwatts a day that is 66 cents a day. 20 usd a month. Growth will slow again. I would think he will make a profit.
It all depends on growth and btc value. Both of these are to hard to speculate right now. I think growth is going to be high with new miners, I do hope it drops though I would find 5-10 more sustainable. I just don't see 20 percent being sustainable, but could be wrong.
Also value I think a lot of new operations are dumping coins to pay for new gear in fiat. Just a feeling I have no real proof of it. If btc gets a big jump in value it's going to change all the numbers better for miners.