Best country on earth for altcoin mining - share suggestions

[goldenfleece]

Cheap electricity and relatively low corruption in the country is one of the key indicators for any kind of industrial work; but main is to identify the best, top 10 at least best locations in earth for altcoin mining.

I, as a representative of altcoin mining industry in Georgia, consider Georgia as one of the best places on earth for altcoin mining, but it is interesting to hear what are other options.

In Georgia electricity is quite cheap: 5-6 $ cent/kwh and country is doing quite well in World Bank's Ease of Doing Business rating.

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[QuintLeo]

USA - if you move to one of the 3 Central Washington State counties with the cheapest power cost in the country.
 Can easily get under 3 cents/kwh


 Perhaps Kuwait, *IF* you are a native or have a real good connection there, as electric is super cheap by report to a degree you could AFFORD to A/C your miners.

[goldenfleece]

Really? Washington State can offer under 3 cents/kwh? 

Kuwait is extremely hard.

[ZenFr]

Island with it's geothermical electricity, quasi free and it's cold wether to refresh the miners.

[Liquid71]

how does low government corruption help mining altcoins? 

[anders31]

where i live it's only 0.025$/kw try to beat it (some regions where i live 0.018$/kw)

[mettalmag]

how does low government corruption help mining altcoins?  

if there are zero regulations also?

I also consider Georgia (my home country) as a best place for not only alts but for mining.
You should mention that it's not as easy to get 5-6 Cents per KWh, unless you are consuming above 300KWh. But, there's a big but also, under proper management and under good connections you are able to get your own power plant, small or medium one, last couple years governmental structures are working and in fact supporting people to run power plants, there are some regulations of course, but it's relatively easy to do it. Also consider that there are  more than 25k (yeas! 25 fucking thousand) rivers in Georgia, not all of them are capable to handle power plants, but hey, 25.000+! So My voice goes to Georgia the country!

[graviteta]

china electricity prices are very low and maybe New zealand.
European zone is very expensive. Dont run miner if u are living in there.

[goldenfleece]

I hear that a lot on China, but people are skeptical about prices on electricity. Do you think you can get lower than 5 $ cent per kWh in any part of China?
What then about business environment.

EU, yes, it is I expensive. I leave in Georgia, which is straight in the middle of Europe and Asia; we run here pilot mining project and our electricity bill is not exceeding 5 $ cent per kWh and it looks actually quite efficient. But I believe there will be in the world somewhere cheaper electricity   So we want to explore that.

We are preparing now for ICO (http://goldenfleece.co/index.php/ico-details/) to raise funds for our mega mining datacenter in Georgia but for the future we look for alternative markets. For example, we are looking into opportunity to develop datacenter in Singapore.

china electricity prices are very low and maybe New zealand.
European zone is very expensive. Dont run miner if u are living in there.

[goldenfleece]

Well, that helps everything and any kind of business, don't you agree?   

how does low government corruption help mining altcoins? 

[TropicalDog]

Well, i am living in asia and the price of electricity in my country is about 0,05$/KW, so it is worth mining coins here

[goldenfleece]

Agree, 300 kWh is min that you shall consume to get cheap electricity in Georgia, but our goal is to built mega mining datacenter so we definitely will consume far above 300 kWh electricity    We are running now pilot project in Kakheti for altcoin mining and our electricity bill do not exceed $ 5 cent kWh.

We are actually preparing for ICO to raise funds for the mega mining datacenter (http://goldenfleece.co - do not comment about web-site   we are in the process to upgrade it   ). Our project is called Golden Fleece (first Georgian altcoin) and we plan to build the mining datacenter on the land of Colchis in West Georgia; and yes we use green energy as a source of electricity for altcoin mining. You are right there are lots of HPP opportunities in Georgia but we target to use solar and wind power as well (but not big portion of our consumption).

What do you thing about Singapore?

how does low government corruption help mining altcoins?  

if there are zero regulations also?

I also consider Georgia (my home country) as a best place for not only alts but for mining.
You should mention that it's not as easy to get 5-6 Cents per KWh, unless you are consuming above 300KWh. But, there's a big but also, under proper management and under good connections you are able to get your own power plant, small or medium one, last couple years governmental structures are working and in fact supporting people to run power plants, there are some regulations of course, but it's relatively easy to do it. Also consider that there are  more than 25k (yeas! 25 fucking thousand) rivers in Georgia, not all of them are capable to handle power plants, but hey, 25.000+! So My voice goes to Georgia the country!

[goldenfleece]

it is same in my country as well, in Georgia  but which country you are referring? and why it is better to do mining in your country but not in Singapore for example or I don't know, in any other countries; challenging you   

Well, i am living in asia and the price of electricity in my country is about 0,05$/KW, so it is worth mining coins here

[Chisinau]

Number one for sure goes to Russia , they have sub 5 cents power in many places , some regions/cities in far east near Monstrous hydroelectric dams have as low as 2 cents + its cold weather that is a huge plus for mining of course

In Eastern Europe :  Moldova , Pridnestrovie autonomus region that is subsidized (helped) by Russia : 5 cents . World Fastest internet with 1Gbit fiber coverage  . Best country in Europe bar none . A massive hydroelectric dam from Dubosar , built by USSR , providing plenty of green clean energy to entire region .

 

[goldenfleece]

As not only Georgian but as business mind person/project, I will defenitly stay away from Russia. Especially when 5 cent is exactly same what Georgia offers or Asia as folks here are saying. Russia favours Vitalik of Ethereum  so they probably rather give room for Ethereum blockchain servers rather then altcoin mining of yours or ours 


We focus on quite a big datacenters, our recet project of Golden Fleece mining will consume as much as 20MW electricity (our calculation proves this capacity) and I am pretty sure this big plant in Russia without lobby from the FedRusGov will not be possible.
Well, our project depends on funds raised during the ICO which starts on 15 August; we target to raise $50ml (yes 50 ml!) but if we raise less funds we still for sure will build the smaller one that of course will consume less electricity. Our current pilot mining project runs just fine and elecricity bill never goes above 5 cent per kwh. 

Moldova is an interesting idea; thanks. Do you know anyone doing altcoin mining in moldova?

Number one for sure goes to Russia , they have sub 5 cents power in many places , some regions/cities in far east near Monstrous hydroelectric dams have as low as 2 cents + its cold weather that is a huge plus for mining of course

In Eastern Europe :  Moldova , Pridnestrovie autonomus region that is subsidized (helped) by Russia : 5 cents . World Fastest internet with 1Gbit fiber coverage  . Best country in Europe bar none . A massive hydroelectric dam from Dubosar , built by USSR , providing plenty of green clean energy to entire region .

 

[mettalmag]

Agree, 300 kWh is min that you shall consume to get cheap electricity in Georgia, but our goal is to built mega mining datacenter so we definitely will consume far above 300 kWh electricity    We are running now pilot project in Kakheti for altcoin mining and our electricity bill do not exceed $ 5 cent kWh.

We are actually preparing for ICO to raise funds for the mega mining datacenter (http://goldenfleece.co - do not comment about web-site   we are in the process to upgrade it   ). Our project is called Golden Fleece (first Georgian altcoin) and we plan to build the mining datacenter on the land of Colchis in West Georgia; and yes we use green energy as a source of electricity for altcoin mining. You are right there are lots of HPP opportunities in Georgia but we target to use solar and wind power as well (but not big portion of our consumption).

What do you thing about Singapore?

how does low government corruption help mining altcoins?  

if there are zero regulations also?

I also consider Georgia (my home country) as a best place for not only alts but for mining.
You should mention that it's not as easy to get 5-6 Cents per KWh, unless you are consuming above 300KWh. But, there's a big but also, under proper management and under good connections you are able to get your own power plant, small or medium one, last couple years governmental structures are working and in fact supporting people to run power plants, there are some regulations of course, but it's relatively easy to do it. Also consider that there are  more than 25k (yeas! 25 fucking thousand) rivers in Georgia, not all of them are capable to handle power plants, but hey, 25.000+! So My voice goes to Georgia the country!

Mind if I ask were are you from? and also why Kakhetia? It is the hottest region of Georgia, in summer temps reaches sometimes 40+ degrees, also there are not as many rivers as in other regions, also wind tourbins may have troubles running, the only option for green energy is solar. Why not to consider other regions? The higher you go from the sea level the cheaper electricity gets, plus there are some support from government if you use local labor and tons and tons of stuff consider. As for myself Kakhetia not seems an option for me, I'm running several data centers in Tbilisi and Kazbegi region also, some for myself and global customers hostinh service, some for local clients.

[mauver_korea]

China.. maybe

[QuintLeo]

Really? Washington State can offer under 3 cents/kwh? 

Kuwait is extremely hard.

 I presume you mean Kuwait is extremely HOT. It's also dry though so evap cooling would work well - if water is available enough.


 There are 3 County PUD in Washington State that offer less than 3c / KWH all costs included rates - Chelan and Douglas counties are close to that on RESIDENTIAL and SMALL business rates, their mid-size and large business rates are less.
 Grant county is close to 4.5 for residential/small business, but once you get above 200KW into the large business rate they are in the 3 or under range as well.

 These 3 counties offer the lowest rates in the country by quite a bit - the next lowest areas in the US I'm aware of barely dip under 5 cents/KWH for INDUSTRIAL level rates.
 All 3 have local power rates subsidised quite a bit, as they all have considerable hydropower via large Columbia River dams and sell off the excess power to outside areas - mostly the Seattle/Tacoma area but at least some as far away as California and they make enough over production costs on those long-term contracts to be able to sell to locals for less than cost of production.


 For reference, the Grand Coulee dam is located partly in Grant County, partly in Okanogon County (it dams the Columbia River, which forms the boundary for the 2 counties in that area), but is owned by the Federal Bonneville Power Administration - and provides ZERO power to Grant County as far as I know (it's power output tends to get shipped a lot farther away).


 There are quite a few areas that have 1 GB service, or fiber backbones with even higher data rates available throughout the world, it's getting fairly common any more for mid-to-high pop density areas.
 All 3 of the Central Washington PUDs mentioned above have a "fiber backbone" that runs alongside their power transmission network with a primary usage intend of remote meter reading.
 Access to it is provided to customers via local ISPs and "terminator boxes" that offer 100 Mb Ethernet by default but do have "higher speed" fiber ports available as an option, as well as linking into the power meter(s) for the location the box is at.

[Miner4ever]

Nah, there is no country like Serbia. Here almost every house have few rigs.
They put them even in sleeping rooms
Electricity is for now very cheap, lots of peoples are experts to make and maintain mines.
And we have very long tradition with mining. Lots of peoples have rigs even before bitcoin
start, because they use them to decode mobile phones...

[goldenfleece]

hm, interesting about Serbia. What is the lowest possible price for electricity per kwh you can get there? In which town?
What about legal side? Is it easy to set up company and start mining for foreing nationals?

But what people are decoding that much ?   

Nah, there is no country like Serbia. Here almost every house have few rigs.
They put them even in sleeping rooms
Electricity is for now very cheap, lots of peoples are experts to make and maintain mines.
And we have very long tradition with mining. Lots of peoples have rigs even before bitcoin
start, because they use them to decode mobile phones...