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Author Topic: How can we reduce the cost of electricity?  (Read 47852 times)
winnersss
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November 08, 2017, 07:13:48 AM
 #461

The most costly part of the Bitcoin mining process is electricity. The more we can deduct the electricity cost, the more we will gain. How can we reduce the cost of electrical energy, let's do some brainstorming.

The main sources used in world energy production are oil, natural gas and coal
Generally, Nuclear Energy, Solar Energy, Bioenergy, Hydrogen Energy, Wind Energy, Geothermal Energy, Wave Energy, Hydroelectric Energy, Tidal Energy are used as alternative energy sources.

Yes friends what can we do to reduce energy costs?
Well, now there are windmills, many craftsmen make their autonomous power stations, which lower the consumption. And even solar panels are very popular. So in connection with the development of technology problems in this.
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johnstexas
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November 08, 2017, 07:20:18 AM
 #462

Or just move to an apartment where they dont charge you for electricity use

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November 08, 2017, 08:45:37 AM
 #463

maybe the only way to reduce your electricity bill is  limit your appliances usage turn off your appliances that u think not important.. or use solar panel to your computer that if you use for mining...

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November 08, 2017, 12:11:04 PM
 #464

I became part of a company that allows me to "sell" power cheaper then the current area (not available in all states) I can even sell MYSELF power (business or res) and I get 10% of the monthly bill of every one I sell!!! INCLUDING MINE

Worked out for me and I sold it to a few friends as well just to lower their bills
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November 08, 2017, 12:22:10 PM
 #465

Good to catch this thread. I and my friends are also planning to set up a mining farm. We are only observing the market yet. We are considering another country with cheaper electricity costs. Maybe we can also use solar energy.



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danmoris
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November 08, 2017, 01:48:25 PM
 #466

By going towards Green technology.
Solar panels have their limitations, will always cost as well as produce toxic waste both during production as well as disposal.
Wind turbines are cost effective, reliable and provide decent amounts of electricity for extended periods of time. Producing and disposing them doesn't harm the environment that much.
These could be used locally by mining farms.
Wave power is a cool solution as well as Geothermal Energy.
There is an abundance of free, clean power on our planet. If only we were not so self-destructive and greedy...

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November 08, 2017, 03:31:04 PM
 #467

Refer to the link below:

https://bitcointalk.org/index.php?topic=2172378.new#new

"One of the way to avoid electricity bill is to use cloud based machines for mining. Apps4rent does provide machines which can used for both CPU and GPU mining.
In fact, in GPU section, you can also do CUDA core mining which is more powerful, powered with NVIDIA Pascal architecture."
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November 08, 2017, 03:46:33 PM
 #468

By going towards Green technology.
Solar panels have their limitations, will always cost as well as produce toxic waste both during production as well as disposal.
Wind turbines are cost effective, reliable and provide decent amounts of electricity for extended periods of time. Producing and disposing them doesn't harm the environment that much.
These could be used locally by mining farms.
Wave power is a cool solution as well as Geothermal Energy.
There is an abundance of free, clean power on our planet. If only we were not so self-destructive and greedy...

Thats possible and really a good source of electricity but those wont really be cheap on making set-up on those either wind turbines or wave power aparratus and geothermal. If a certain mining investors or company can handle the expense then it should be fine just make it sure it would able to sustain for too long and would have proper maintenance because the risk on losing investment would really include on the breakage of those electricity sources.Cheap electricity is really possible but would really add up on the expense.


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btc4
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November 08, 2017, 06:45:50 PM
 #469

Good to catch this thread. I and my friends are also planning to set up a mining farm. We are only observing the market yet. We are considering another country with cheaper electricity costs. Maybe we can also use solar energy.

If any one had a plan to do Mining means,first thing they will worry bout the expenditure of Electricity .Because,Mining is a big set up,so we need to use of hish electricity for that.You can try the Solar panel set up for the Electricity .Or else you need to pay huge dolllars for Electricity itself.

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November 08, 2017, 10:01:58 PM
 #470

>>Apps4rent does provide machines which can used for both CPU and GPU mining
if anyone ever gets a profit while renting cloud machines, call me...
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November 09, 2017, 04:02:19 AM
 #471

There are many ways to reduce the cost of electricity in which all we need to do is to execute. Like unplugging all the appliances that are not in use, use gas fueled burner instead of electric, try to wear un ironed clothes for daily wear , avoid using microoven...so many ways... but the main thing here is the user itself must have a discipline. Saving electricity means saving money. 
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November 09, 2017, 05:49:56 AM
 #472

There are many ways to reduce the cost of electricity in which all we need to do is to execute. Like unplugging all the appliances that are not in use, use gas fueled burner instead of electric, try to wear un ironed clothes for daily wear , avoid using microoven...so many ways... but the main thing here is the user itself must have a discipline. Saving electricity means saving money. 


Absolutely turning off the appliances will reduce the cost of electricity but but i thing this topic about reducing the electricity in mining so we have to discuss about mining not other appliances.
There is no way to decrease the cost of electricity because it is provided by the respective countries so some countries have expensive cost and in some countries the electricity is very cheap so its is based on the countries so to reduce the cost of electricity we can increase the hash rate of miner which gives more profit then we can compensate with the electricity bill.


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Bessta
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November 09, 2017, 05:58:20 AM
 #473

Cost of electricity in the middle east is cheap.

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November 09, 2017, 07:14:24 AM
 #474


I agree, Kuwait energy cost could be very low, but, it would require you to have a fully air-conditioned rooms for your mining rigs. Or, you'll probably encounter overheat issues a long the way.


I looked at the wiki list. The lowest electricity price seems to be in China.
Kuwait: 0.3 to 3
China: 0.04 to 0.45


China is 0.04 USD
Kuwait is 0.3 US cents

Kuwait still the best in the world but too hot.
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November 09, 2017, 07:44:11 AM
 #475

The cost of electricity depends on what type of miner you are using. ASIC now provides efficient mining.
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November 09, 2017, 10:57:58 AM
 #476

i believe solar power panels for tropical places is better...
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November 09, 2017, 11:01:48 AM
 #477

maybe we can share electricity usage , like you get the rig working in your house for 15 days and the put it in your friend for the other 15 days 
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November 09, 2017, 02:10:35 PM
 #478

the best option is t visit Irkutsk. And great variant is blowing wind power stationo
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November 10, 2017, 06:17:31 PM
 #479

To Reducing Electricity Use and Costs, there is only one right solution, use DC to AC Converter 12V to 220V / 240 Voltage Converter, You can go directly to Google for schematic or you can also buy finished product.
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November 12, 2017, 05:54:32 AM
 #480

We could use renewable source of energy to prevent the large cost of electricity after mining in a month. It is also more safe than the coal and nuclear power source. Also turn off some appliances that are not in used to reduce the power consumption and not to interrupt the progress of your mining hardware.

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