Moving to China for the gir... I mean mining

[Nebell]

So 20 Antminer S9 13.5TH/s would cost about $22k and the total hashing power would be 270TH/s.
I read that electricity in China is about $0.03-$0.04. I calculated $0.05 electricity cost and the profit would be $7260 per month, 88k per year. That's a lot of money for not doing much and China is cheap to live in.

Compared to my pathetic $1500/month ETH mining, this seems like a really good idea.
Is this a sensible idea or am I completely out of my mind? Sure this is not something I'm going to do in 10 years, but the amount I could earn per year would allow me to build a better future in just a few years.

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[fanatic26]

Electricity in China is similar to other developed countries. The price varies based on location and how the power was generated. It is not 3-4 cents all in across the whole country, if you live in an area with coal (which is still Chinas primary energy source) you wont pay less than 6-7 cents. Do your research if you are serious about moving there.

[Amph]

Electricity in China is similar to other developed countries. The price varies based on location and how the power was generated. It is not 3-4 cents all in across the whole country, if you live in an area with coal (which is still Chinas primary energy source) you wont pay less than 6-7 cents. Do your research if you are serious about moving there.

yeah in fact there are place like in washington where the electricity is cheaper than china, i heard about 2 cent electricity there, there is no need to go in chian if you live in the USA

still gpu mining is more profitable, because one 1070 can do $300 a month and cost nothing in electricity only 120 watt, one antminer $400, but consume 1400 watt, and an antminer cost 4 times one 1070...

[carlfebz2]

Electricity in China is similar to other developed countries. The price varies based on location and how the power was generated. It is not 3-4 cents all in across the whole country, if you live in an area with coal (which is still Chinas primary energy source) you wont pay less than 6-7 cents. Do your research if you are serious about moving there.

yeah in fact there are place like in washington where the electricity is cheaper than china, i heard about 2 cent electricity there, there is no need to go in chian if you live in the USA

still gpu mining is more profitable, because one 1070 can do $300 a month and cost nothing in electricity only 120 watt, one antminer $400, but consume 1400 watt, and an antminer cost 4 times one 1070...

It will depend on OP's interest if he would rather think to switch to GPU from asics and the difference among their prices is really high. If he would like to mine btc then asic would really be needed and  moving to china because of electricity cost I think it would not be sensible at all there are lots of places which could able to equal those rates. Proper research would help you out and its not necessary to move out on other place.

[Nebell]

I live in Sweden and electricity here cost about $0.15/kwh. I always loved Asia, not just China. But I have a lot of friends in China who I could ask for help. I need some quick income, so investing about $25k in 20 or so miners and stay in China for 3-5 years would do me better than staying where I am now and earning about $35k a year.

[carlfebz2]

I live in Sweden and electricity here cost about $0.15/kwh. I always loved Asia, not just China. But I have a lot of friends in China who I could ask for help. I need some quick income, so investing about $25k in 20 or so miners and stay in China for 3-5 years would do me better than staying where I am now and earning about $35k a year.

Seeing on the rate of your electricity its quiet expensive to do mining which would roi will be longer than expected,Go ahead as long you do have the proper plans since its your money,just remember on the important things on doing mining and also moving to another country is quiet hassle but you do have friends their then it would be really an advantage for you. Goodluck

[ActiveP]

If you are young and adventurous why not? moving out of your comfort zone to succeed should be applauded. China is the future, not only for mining coins.

If you have the capital, you should consider solar panels with rechargeable batteries. It can run all day and night, the investment at first might be a bit high, but could be worth it long term.

[Nebell]

I live in Sweden and electricity here cost about $0.15/kwh. I always loved Asia, not just China. But I have a lot of friends in China who I could ask for help. I need some quick income, so investing about $25k in 20 or so miners and stay in China for 3-5 years would do me better than staying where I am now and earning about $35k a year.

Seeing on the rate of your electricity its quiet expensive to do mining which would roi will be longer than expected,Go ahead as long you do have the proper plans since its your money,just remember on the important things on doing mining and also moving to another country is quiet hassle but you do have friends their then it would be really an advantage for you. Goodluck

I have already moved to another country before (but not Asia), I know a bit of Chinese since my ex-gf is Chinese. Moving can be a hassle yeah, but I'll leave everything I have here to my parents, and ask some of my friends in China to help me find a place with cheap electricity and stable internet connection. Most of them live in Shanghai and Hong Kong but I have some friends in the north mainland, where some of the largest Bitcoin mines are and where it's usually cheap to live. It's close to freaking Siberia though.

If you are young and adventurous why not? moving out of your comfort zone to succeed should be applauded. China is the future, not only for mining coins.

If you have the capital, you should consider solar panels with rechargeable batteries. It can run all day and night, the investment at first might be a bit high, but could be worth it long term.

Well, young and young, I'm 33
Solar panels in Sweden? Ha, you're funny

[usenet]

You do not have to move.
Find hosting in China. Buy your devices, configure them with your pool data and count your BTC in your wallet