Cheap electricity in Africa

[abookidea]

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

[pxo.011]

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

wow, internet speed was fast too am i right? i hope miner there have equiped by the best rigs if in my country electricity was not that cheap but not expensive though, goodluck for mining

[mindrust]

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

$0.10 is fine but not that cheap to attract big investors. I know there are people who pay $0.06 for the electricity. I pay $0.12 and barely making any profits with my small rig.

People are investing in solar panels/wind turbines now mostly.

[Pursuer]

your electricity can be considered "cheap" but at the same time you are forgetting about another electricity consumption and that is for cooling. Africa generally has a hot temperature so depending on where you live you may have to invest in a lot better cooling equipment and also spend a lot of electricity for that. which means your total cost may be higher than others in other countries with the same electricity cost.

what mindrust said above me gave me a nice little idea though! you may be able to buy solar panels and generate some electricity that way since you have a lot of "sun"!

[ParveZ219]

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

If you are having so much cheap electricity in Africa then just invest to buy some bitcoin miners or GPU start from the small and later you will buy a better one. So it will give you hundred percent profit if your electricity price is so low. Or for other countries also there is another way you all can use solar power also for mining Bitcoins. But it needs a little bit more investment.

[Olalomi]

You are very lucky to pay for cheap electricity in your country however mining bitcoin is capital intensive to make any profit you spend huge amount of money to import mining equipment considering the fact that competition in mining is increasing daily.

[ubercool]

If you get into renewable energies like wind turbine and solar energy then you can make good profit with altcoin mining. Even GPU prices are falling now and it may be the time for more miners to get in. Though 0.1$ per KWH is not that cheap but good to go.

[Missterio]

I live in Russia our rate is 0.05725332 USD it is even cheaper than you

[Kakmakr]

your electricity can be considered "cheap" but at the same time you are forgetting about another electricity consumption and that is for cooling. Africa generally has a hot temperature so depending on where you live you may have to invest in a lot better cooling equipment and also spend a lot of electricity for that. which means your total cost may be higher than others in other countries with the same electricity cost.

what mindrust said above me gave me a nice little idea though! you may be able to buy solar panels and generate some electricity that way since you have a lot of "sun"!

Higher temperatures can be to your advantage, if you want to supplement the cheap electricity with solar power.   Also, they have some mountain areas with some very cold temperatures. Mount Kenya is the highest mountain in Kenya and the second-highest in Africa, after Kilimanjaro. The highest peaks of the mountain are Batian (5,199 metres (17,057 ft)), Nelion (5,188 metres (17,021 ft)) and Point Lenana (4,985 metres (16,355 ft)).

Source : Wikipedia : https://en.wikipedia.org/wiki/Mount_Kenya

So you have the best of both worlds, if you relocate to these areas. The question is how reliable is the electricity supply in these countries and how safe are some of these countries for Westerners. I think they border Somalia.  

[CashMercenary]

If that's the case, I'm pretty sure that Africa will be a miner's paradise someday. I hope that mining will be fully legalize on your country and I'm pretty sure that it will bring a huge positive impact on your economy. Here in my country, the rates per kilowatt changes depending on the weather so crypto mining here will bring you misfortune. Haha!

[marcbitcoins]

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

I don't know if Bitcoin is legal in the continent of Africa but as this place was known for such high temperatures which i believed it will favor the renewable energy system by using solar energy for the electricity consumption then of course the cost of the electricity will become cheap. Here in my country electrical cost is much expensive because we don't use renewable energy so if there are some businessmen that will engage in Crypto mining projects them maybe they will consider you place in the future.

[freesia_pnp888]

omg that's excessively cheap? is this real? 

[Ctn]

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

$0.10 is fine but not that cheap to attract big investors. I know there are people who pay $0.06 for the electricity. I pay $0.12 and barely making any profits with my small rig.

People are investing in solar panels/wind turbines now mostly.

Cheap electricity is all right but have you guys ever considered about the increasing network difficulty? Its been long since the difficulty is rising and rising all the time. I know electricity plays a role into this but eventually it wont matte when you will need nigger has rates to cop up the current difficult situation of the mining.

Cheap or free it will just matter by 2-5% or less in terms of recovering your ROI. What we need to look after is better source of mining operation in terms of hardware itself. It should be cheaper itself and more powerful than anything.

About the solar energies, well the investment into it will be far bigger than anything so its not worthy.

[Dewi89]

I live in Russia our rate is 0.05725332 USD it is even cheaper than you

it turns out the cost of electricity in your country is cheaper than in Africa, for the miners it is highly prioritized because every active device is in dire need of high power, but if the cost of electricity is cheap it will be very profitable

[olubams]

I am in Nairobi and here we have cheap electricity that enables us to mine and get better rates. I pay about $ 0.1 per 1 kwh which is very cheap as compared to many countries.
I guess making bitcoins in Africa could be a very profitable project for heavy hardware investors. What are the rates in your country ?

Cost of electricy is not only the deciding factor why someone would want to go into mining, considering that alone only to realize its more than that would end up abandoning such investment. Like someone have rightly stated, the atmospheric condition of Africa is not compatible with bitcoin mining and to meet up with such condition of having those giant cooling system would end up increasing the cost of mining beyond what you might imagine considering the amount of investment needed to break even.

[talkbitcoin]

just because you have cheaper electricity it doesn't mean you should jump into mining. mining cryptocurrencies is not something that is suitable for everyone. it requires an initial investment and also a dedicated space to put all the equipment and cooling systems and you will have to endure the noise of it all.
on top of it you should also be aware of the volatility.

[Nolivelasco13]

You are very lucky to pay for cheap electricity in your country

[stompix]

Higher temperatures can be to your advantage, if you want to supplement the cheap electricity with solar power.   Also, they have some mountain areas with some very cold temperatures. Mount Kenya is the highest mountain in Kenya and the second-highest in Africa, after Kilimanjaro. The highest peaks of the mountain are Batian (5,199 metres (17,057 ft)), Nelion (5,188 metres (17,021 ft)) and Point Lenana (4,985 metres (16,355 ft)).

Source : Wikipedia : https://en.wikipedia.org/wiki/Mount_Kenya

So you have the best of both worlds, if you relocate to these areas. The question is how reliable is the electricity supply in these countries and how safe are some of these countries for Westerners. I think they border Somalia.  

If it were like that we would have had a few Kenyans at the winter Olympics.

The current climate on Mount Kenya is wet, but drier than it has been in the past. The temperatures span a wide range, which diminishes with altitude. In the lower alpine zone they usually don't go below 12 °C (54 °F)

Besides, most of those mountains are in wildlife parks and far away from the cities with little to now infrastructure around.
And the rates are not that cheap, it's close to what Eastern Europe is paying

Combined with poor infrastructure, security, unpredictable politics I would stay out of it.

Cheap electricity is all right but have you guys ever considered about the increasing network difficulty? Its been long since the difficulty is rising and rising all the time. I know electricity plays a role into this but eventually it wont matte when you will need nigger has rates to cop up the current difficult situation of the mining.

The difficulty doesn't matter in the long run.
All the miners are competing with the same costs, rent for the space, internet connection and electricity.
And the ones with lower price per kwh will stay in the game, the others will have to sell.

At one point we're going to reach the equilibrium where the reward is barely above the costs to run all those miners.
A bit like the oil industry.

[CryptoBry]

your electricity can be considered "cheap" but at the same time you are forgetting about another electricity consumption and that is for cooling. Africa generally has a hot temperature so depending on where you live you may have to invest in a lot better cooling equipment and also spend a lot of electricity for that. which means your total cost may be higher than others in other countries with the same electricity cost. What mindrust said above me gave me a nice little idea though! you may be able to buy solar panels and generate some electricity that way since you have a lot of "sun"!

The use of solar energy can be so viable in the African continent since this is known to have a hotter climate with plenty of sun time available. Though with solar you need to invest a chunk of money for the equipment but over time the electricity produced can get cheaper and cheaper. I am hoping that more and more African entrepreneurs will venture into cryptocurrency mining exploiting the resources they can find on their own locations. As cryptocurrency is here to stay for sure, the opportunity to make money in cryptocurrency mining is expanding since we are not just talking about Bitcoin here...though just like in any other business ventures balancing on different factors has to be handled well.

[AurumService]

Africa is great due to its climate and sun. But mining in Africa? Hmm. That`s a tricky question. The electricity is cheap there according to some research but if one wants to fully devote himself or herself to cryptos and mining the choice is to move or emigrate to this continent. It can be a very hard burden to carry. Not everyone will agree to do so. But spend some time a year while doing buisness there - why not?