Indian Electricity rate

[gaitchs]

is it better to mine in India than other countries ?  I mean is the electricity cheaper here

[bitcoinisbest]

As far as India is concerned I do not find the electricity is cheaper any how here. There are some countries which has very negligible or free sort of electricity being provided. Also cooling those mining rigs is too expensive and thus mining is a bad idea in India.

[Guvn0r]

It is better if you register as an SSI or MSME , that way you ll be eligible for rates upto 4.5 rs/kwh (IT Industry) - this is what i ve seen in KSEB (Kerala) website. I think that is good enough when trying to mine with GPU or ASIC.

[minersatwork]

1.In India - taxes are pretty high- Customs/GST which u need to pay when one import hardware
2.Consider joining www.minersatwork.com upcoming pre-ICO on 6 Dec.
We will be having press conference and roadshow in
Singapore- 26 Nov
Chandigarh -29 Nov
Lucknow 30 Dec
Delhi 1st Jan
Mumbai 27 Jan
3.It is a Singapore based startup for mining which has tax advantages
4.It has economics of scale,profitable and successful setup which is scaling up.
58% of rewards are shared with investors which will turn out to be higher than if u mine urself.
it has been highligthed in Indian media as well
http://www.zeebiz.com/agencies/indian-bizman-set-to-launch-ico-offer-for-asian-businesses-30938
http://businessworld.in/article/Indian-Bizman-Set-to-launch-ICO-Offer-For-Asian-Businesses/10-11-2017-131276/
Regards

[verox]

i once started mining. it was not profitable in india. so i leaved.

[Kaliboi]

In India electricity is provided by different organisations hence rate is not fixed for whole country , but the rural and undeveloped areas get subsidy mining in such areas is quiet profitable.

[layover_guy]

i once started mining. it was not profitable in india. so i leaved.

Can you tell us a bit more? Why it was not profitable, where did you mine? How much did you spend in hardware? What was your cost of electricity? Was is residential or commercial connection?

[layover_guy]

In India electricity is provided by different organisations hence rate is not fixed for whole country , but the rural and undeveloped areas get subsidy mining in such areas is quiet profitable.

Any particular area where you know the electricity rates? Also, do you know if that area has power outage problems? Usually rural areas in india has power outage for 30% of the times n a day.. .Some parts of punjab still has outage of 4 hours every day... That will eat up all the profit and the damage to hardware when turned off directly without shutting down

[layover_guy]

As far as India is concerned I do not find the electricity is cheaper any how here. There are some countries which has very negligible or free sort of electricity being provided. Also cooling those mining rigs is too expensive and thus mining is a bad idea in India.

Did you do any analysis with comparison to other countries? What countries did you compare it to? Did your add the cost of moving to that country and trying to set up in a foreign nation? Part of himachal & Jammu Kashmir has electricity as low as 3 Rs per KW which and those areas are pretty cool...wouldn't that beat 99% of the world's electricity cost and cooling factor?

[rajkiransingh]

Electricity cost in india is high and temperatures are also high. So we need to pay for cooling as well. We need to choose the coin carefully.

[plpatel]

Cost of electricity cost here in Maharashtra, India is high. Though, you can register as MSME or SSI and get subsidized rate on electricity. But that would not as cheap as you would like to have.

[myhacker]

it is easy to mine bitcoins in indIA cuz less electricity rate but in few states only..