Cheap electricity for mining Bitcoin

[QuintLeo]

Up-front cost of Solar, especially when you need power 24/7, is STILL very very high vs. just buying power.
 Ditto Wind power, which is actually CHEAPER than solar per watt and you can generally get away with less battery since the wind tends to blow any time of day or night.

 Both are very dependent on your location, though - Solar works a lot better in AZ or Southern Cal than in Iowa, but wind here generally blows most of AZ and large parts of California away (the Cajon and Tehachapi (sp?) passes being noteable exceptions).


 
 They've both made major strides in getting more competative - but they STILL need subsidies to get close, and they STILL get blown away by Hydropower where that's available (they're getting semi-close to Coal and Natural Gas though, especially given the incredible levels of regulation and REQUIRED retro-fit on most coal plants the EPA has forced on them over the last 20ish years).

[QuintLeo]

If your 20,000 USD rig consumes 6,000 W of electricity, it would cost you only 860 USD per month total to host it with me.

 Which works out to a hair under 20 cents/KWH which is way expensively high.
 Too many already existing hosting centers with existing GOOD REPUTATIONS that will host for a third or so of that.

[raspberryseltzer]

$0.024USD/kWh at present.

That's really quite good.  Someone in Alberta should setup a mining coop, for independent miners.

[Erumara]

$0.024USD/kWh at present.

That's really quite good.  Someone in Alberta should setup a mining coop, for independent miners.

Still on the hunt for the remaining startup capital (got a few interested parties but only my business partner so far) We've already found a suitable industrial space that is looking promising. I will be updating in the next few months because come hell or high water that is precisely what I'm hoping to do

[adaseb]

$0.024USD/kWh at present.

That's really quite good.  Someone in Alberta should setup a mining coop, for independent miners.

Still on the hunt for the remaining startup capital (got a few interested parties but only my business partner so far) We've already found a suitable industrial space that is looking promising. I will be updating in the next few months because come hell or high water that is precisely what I'm hoping to do

You sure that its $0.03kwh in total or just the energy charge? I called around and the prices don't include transmission and distribution costs which can be another 50%.

[butt_coin]

Eastern WA (Avista) is at 0.07something with a $8 minimum (not in addition, but as a credit unless you don't use $8 of electricity) but if you run a farm it can be as low as 0.04kwh. When I lived there it was 0.065. There are still a ton of rebates and whatnot you can finangle your way into - I think I got it down to 0.06 for straight residential at one point. The lack of income tax might help as well, and rent's cheap as fuck - my apartment in NYC is the size of the kitchen in WA and cost 4 times as much. So 600sqft for $425 with everything included in the end except electricity and internet - and some places do actually include electric - with no income tax, I'd say it's a decent deal except you have to at least spend some time in Eastern Washington. Great place if you are in the right line of work, shit place otherwise.

Also, dude who claimed Indonesia was dominated by the British, you mean the Anglo-Javanese expedition under Sir Stamford Raffles between 1811 and 1814 with a total of 45 days of fighting and only on the island of Java? I don't think they had electricity back then. America subsidized a lot of it after the Konfrontasi in the early 60s til the Asian Financial Crisis and I'd be pretty careful calling the country stable since you got issues in Aceh, ethnic divisions, and any internal strife is one helluva wild card. At least the only two problems in Washington/Idaho are meth and white-supremacists-sovereign-citizens.

In fact, if this is at all a long-ish term investment I'd be very careful on relying on subsidized electric rates and take it for granted. Anyone who's played Transport Tycoon (Deluxe, hopefully) knows that subsidies can't really be replied on and in the US it's going away slowly as more domestic oil reaches the market. Northern Idaho's seeing about a 1% increase a year now. There's a general lack of transparency in rates and it's pretty confusing but I'd say you should consider Texas, especially places like Austin if you can find reasonable space - where commercial base tariffs are pretty low for your demands and transmission only applies in certain circumstances. 0.025 or so to start for commercial at your level of need, I think.

Oh, Native Americans will always have an advantage in tax credits and if you have an in on 2/3 of any sovereign tribe please contact me immediately (best I got was 2/5) because it may be one hell of a win-win-win situation if you can swing something like that. Tribes have been overproducing if they're involved and a few attorneys and I have planned a perfectly legal in every possible way, beneficial in increasing infrastructure and employment, have essentially no risk (we ran it by the BIA already and state agencies), and am incredibly lucrative way for a tribe to make a ridiculous amount of money in addition if only the tribal council would agree to it by an overwhelming majority, in exchange perhaps there's free or really cheap land/power for you to mine coins. Unfortunately while all the principle parties on this end are actually minorities or of mixed heritage nobody is a member of a tribe so we haven't gotten very far in convincing more than just a few on any tribal council in several states.

[Amph]

does any of you with cheap electricity offer hosting here? my electricity is killing me, but obviously i need to trust you first, so a form of escrow is mandatory

if i had the chance to have 0.03 electricity i would build a farm in no time damn

[notlist3d]

does any of you with cheap electricity offer hosting here? my electricity is killing me, but obviously i need to trust you first, so a form of escrow is mandatory

if i had the chance to have 0.03 electricity i would build a farm in no time damn

I always hoped eventually some people would go together and build a farm with a co-op idea.  But it seems hard to do as no one really does it.  Seems that hosting centers are what a lot turn into which lead to higher cost.

Maybe one day?   It would be nice to see one of these shared co-op farms someday.

[Betwrong]

I found a cloud mining contract on oxbtc is the cheapest maintenance fee i have ever seen.
If  you don't believe you can go to see then.
If you can cheaper than that, i will consider buying some from you.

And here we go again. "Cloud mining". "the cheapest maintenance fee i have ever seen". Guys are you even seriuos? Many many times it was said on this forum that cloud mining is a scam scheme, especially it offers "the cheapest maintenance fee". Please don't fall for that.

[QuintLeo]

Also, dude who claimed Indonesia was dominated by the British, you mean the Anglo-Javanese expedition under Sir Stamford Raffles between 1811 and 1814 with a total of 45 days of fighting and only on the island of Java?

 Isn't the peninsula that Singapore is on now part of Indonesia (except for Singapore itself)?
 That area WAS British dominated - most of the rest as I recall was Netherlands "controlled".



 Not all cloud mining is a scam - some of it is just overpriced (there is a difference between scam, where you DON'T get what you pay for, and overpriced/ripoff where you DO get what you pay for but pay too much for it).
 

Eastern WA (Avista) is at 0.07something

 If you're going to move into that general area, might as well target Wenatchee/Moses Lake areas - Avista probably buys power from one of the PUC in "those three counties" and possibly 2 or all 3 of them.

[jstew]

My electric is 0.06KWH in USD if anyone wants me to host stuff i'm more then happy to I wont charge much extra to add it in my cluster of miners.

I'd do the same thing, I've got plenty of warehouse space, climate controlled and. 065 power. I know when I was mining at home my .12 power sucked to much profit.

Tell us more.  Where in the U.S.?  

What's your experience?

Trust?

PM me!

im at .04 in the US, and im not in washington either , 150 miles south of me i can get power for 1.9 to 2.2 cents kwh
i would move the 150 miles south , but the moving and setup cost would offset anything i save from the cheaper power 4 cents aint bad anyways so

[kahir]

If you arrange to escrow a sum equivalent of the miner cost, i think u could claim even larger fees.
Otherwise, i don't think anybody will trust you.

exactly escrow is a must in situations like that

[biggyd]

Seems I could start this as well. I live in a small town in Norway, our community has a lot of hydro power stations. Our electricity costs about 0.25 nok (0.03$) per kWh. All locals use alot of electric heaters around their homes (2500w+ / piece). Alot of my Dutch friends keep joking about moving their 'pot farms' up here due to this lol.

Pro's compared to Venzuela:
- Temperature. Its goddamn cold here.
- Extremely stable nation. We just shoot moose here not people.
- Power outage extremely rare.
- Many others that I am too tired to think of now.

Anyway, but I'm not gonna put a shitload of machines in a place with risking fires or other claims from owners. Seen too much shit go down for a 'friendly' service.

Oh almost forgot, the Cons:
- Value of money for maintainer. As a Venezuelan guy would be happy with 200 bucks. An Norwegian Viking would be able to get 2 beers and a pack of smokes for that. So there are not only 'Pros' ^_^

[QuintLeo]

im at .04 in the US, and im not in washington either , 150 miles south of me i can get power for 1.9 to 2.2 cents kwh
i would move the 150 miles south , but the moving and setup cost would offset anything i save from the cheaper power 4 cents aint bad anyways so

 Where?

[jstew]

im at .04 in the US, and im not in washington either , 150 miles south of me i can get power for 1.9 to 2.2 cents kwh
i would move the 150 miles south , but the moving and setup cost would offset anything i save from the cheaper power 4 cents aint bad anyways so

 Where?

utah

were im at residential is about .08 , commercial is .10 and agricultural is .04
so location is key

150 miles south commercial is 1.9-2.2 cents depending on how much power u use

the down side is the ambient temps are 90-120* but evaporitive cooling works exceptionally well here

[Drakrmaster]

Electricity is very expensive these days that's the reason bit coin mining is very hard.Maybe you can get electricity from illegal sources or mine ETH their difficulty of mining is lower than bitcoins.Also thinking of it ETHs increasing price its a good idea

[jak1]

Electricity is very expensive these days that's the reason bit coin mining is very hard.Maybe you can get electricity from illegal sources or mine ETH their difficulty of mining is lower than bitcoins.Also thinking of it ETHs increasing price its a good idea

If you live in a place where you do have cheap electricity then hosting a miner makes sense. However, even then you are not guaranteed a profit or even an equal return on your investment, due to fluctuations in Bitcoin’s price and mining difficulty. You can use bitcoin mining calculators like alloscomp or vnbitcoin to try and calculate the possible return on your investment.

[QuestionQuest]

I did such a research before (2014/2015 and 2016) and here are my

RESULTS

1) China, india and some arabian states

Looks great and I can provide you a price under 1 cent (USD)!!!
but that are areas with 100 houses and if all people would turn on two lights at same time, it would crash
In the big cities its a bit more expensive and you have to pay MORE per kwh if you need MORE (not like in western countries ---  its not getting cheaper for big customers, its getting expensive!).
But there are proofs thats its working in china. But dont think on a clean room like in usa or in other mining farms.
Think on dusty big halls with cable all everywhere on the ground and a lot of garbage at a collection point (all dead hardware).
And technicans who are sleeping in those houses  

But dont forget about dust, humidity and high temperatures.
And even in the big cities (bombay) its normal that power went of once a day for minutes  
Within china (red area) you can have same problems, but even in Hong Kong and Shanghai its not always best and your power or internet connection is not up all the time.
And in those ârabian countries you maybe could try it, even if its hot, the goverment is - lets say - STRANGE! (you want to have your head on your body after returning, or?)

2) USA/Canada
Yeah, there are region with a price of 7cent per kwh and this is great. The temperatures are most fine, but for a small mining farm you will be in the need of cooling power. (cooling = costs on hardware, maintaince and power!)
Even Canada has some very usefull areas for it.
Some parts of canada and usa are perfect, because the temperature is the most time of the year gentle and low. But you wont get the 7cent hit in those areas.
Using some miner in a private way - heating up the house as a a bonus on winter days - that is so perfect in usa and cananda!

EUROPE
Haha --- all about to say --- prices are high like Bob Marley!
In Italy and Germany a price between 20 and 30 cent (EUR) is average.
You can gain a price of 12-15 cent (EUR) plus some taxes as a company with very very high usage and some own big lines.

Most mining people in europe are addicted to solar-, wind- and water-power or block power heating plants. Different regions, different options.
They just have the power and cannot sell or use them during some times - mining seems to be perfect before getting 0,0 and zero for it
That are some big owners only - most of them and a lot of thousands are private small users with own homes. (and windpower / solarpower on the ground)

All Gaul is under European control, except for one small village -> ICELAND

Yeah its the most part european and the people are addicted to europe, but its a mix from north america and europe continent.
And here seems to be one of the areas you can try a hit.
And they have freedom of powers - and luck, its not oil - cannot got overtaken and stealed from USA

The prices for power are like 5-6 cent (USD).
Cooling is almost not needed, just a good airflow. (ITS FU**** COLD!!! --- and even if you try to think how cold it is --- IT WILL BE MORE!!!)
@Reykjavík is the city and the people of Iceland are living there (thats it!) - 330.000 people - you can try to get them all known
Because of the hot springs they can produce cheap power and heating - and power, only --- if you dont need the additional heating its perfect

Norway and Sweden was interesting in the past - at least because of giant waterpower plants and cold temperatures in those areas.
But if you find anything in the internet which is saying a good price - OVER AND OUT - goverment had to react the prices are high like everywhere in europe, except Iceland (for now).


RUSSIA
Sorry, I have almost no experience with this area.
Price should be "O.K.".
Should be cold on a lot of days.
But is it stable? (power and politics?)
Is it fine for big users?


DIDNT KNOW - YOU CAN HELP?
Never found anything about mongolia - should be cold, too.



Well, I have another option and I am not forced to move anywhere again, but I think this is a stable overview.
I hope anybody can add some informations on it. Would be great.

[lemmyK]

FIRST:  you have to  check the IMPORT TAX  when you  ordering some miners  from China. to a country where you want start mining  farm.

Why is not in Scandinavia (Nor,Sv,FIn) any big mining facility??  Becouse import tax is crazy high!!   FOR one antminer  S7 ordering directly from bitmain you pay circa +180 usd tax fee....(550usd for miner)  For expensive first batches it was 370usd+    
In Scandinavia, are ideal conditions for mining. the price of electricity is low cold in summer . but it kills tax policy.

Forget illegally import in some truck/ship to scandinavia... If you order miners to the EU(germany, NL or ..) import tax  is similar. and if they catch you immediately you will  get a few years jail and fined tens of thousands of EU/usd. same like with big bag narkotics..

there's no cheaper way for orders from China to all over Europe. but if you now ,pm me i dont now how is turkey in import tax from china..??

electricity is expensive in the whole EU. and in in eastern europe too. therefore there will be after block halving mining dead.
it is better In Canada and in the US

oh jesus   forget russia, there is ban on use bitcoin and jail 7 years for use or mining crypto. and import tax is high too..i think

And in countries with hot weather you spend  all on cooling . You have to  find country where max 20 C in summer.

I wonder how somebody  got hundreds of miners  in to venezuela..  brown envel

[QuestionQuest]

FIRST:  you have to  check the IMPORT TAX  when you  ordering some miners  from China. to a country where you want start mining  farm.

Why is not in Scandinavia (Nor,Sv,FIn) any big mining facility??  Becouse import tax is crazy high!!   FOR one antminer  S7 ordering directly from bitmain you pay circa +180 usd tax fee....(550usd for miner)  For expensive first batches it was 370usd+    
In Scandinavia, are ideal conditions for mining. the price of electricity is low cold in summer . but it kills tax policy.

Forget illegally import in some truck/ship to scandinavia... If you order miners to the EU(germany, NL or ..) import tax  is similar. and if they catch you immediately you will  get a few years jail and fined tens of thousands of EU/usd. same like with big bag narkotics..

there's no cheaper way for orders from China to all over Europe. but if you now ,pm me i dont now how is turkey in import tax from china..??

electricity is expensive in the whole EU. and in in eastern europe too. therefore there will be after block halving mining dead.
it is better In Canada and in the US

oh jesus   forget russia, there is ban on use bitcoin and jail 7 years for use or mining crypto. and import tax is high too..i think

And in countries with hot weather you spend  all on cooling . You have to  find country where max 20 C in summer.

I wonder how somebody  got hundreds of miners  in to venezuela..  brown envel

Well, tax is not a problem. If you have to pay tax, you always can get it back or reduce it before - everywhere.
Even if the country you are importing to has no way for it (3-4x company way like google did / is doing).
One company is sending. One company is paying. One company is receiving and paying a difference and sometimes more companies are involved for (paying the delivery, paying the item, selling the item to another and so on)
The loosing company will always be the company who can get back the tax.
All companies are located in different countries.
But in this case it is not as complicated - but an expert has to flesh out everything.

Maybe a company in IRELAND can even LEND / RENT the Antminer to another company in the destination country.
You have to pay the import tax - but after the ASIC is dead you can re-import them and get the tax back for the same item.
But what the heck - I am not one of those experts - they will solve it for you.

Tax is like an item in transit. And if you are the last station for tax - your own debt. (or you are buying private - thats like it is)
You have to let it run through your station and -if you are forced to pay, then force it to be lowest possible-  

In this point better pay USD 5.000 to a big international tax auditor with own lawyers and you can convert 10-30% of the bitcoins without paying tax for it at the end
Such big companies are located in the big cities around the world, with offices around the world and lawyers and other advisers around the world. They employ thousands of people, just for this business!  -  no scam, no fake and nice big buildings everywhere, with hot coffee and cookies for all customers
100% legit of course!!! (customers are HP, AMAZON, GOOGLE, VW and and and and and and ...)


The point is: You have to mine small and private or you have to start BIG and ORGANIZED.
It seems that there is nothing left in the middle @SHA256(d)


And the point of russia I was not aware of. Its not legit - wow - ok. (Nelson @Simpons: HaaaA! HaaaA! ***pointing the finger to russia on the map***)
Lets send Putin a S7
Thats why btc is so nice and smooth all the time - no russia flaming - I was wondering all the years


The guy in venezuela is maybe providing a sauna service with hot stones?  


P.S.: And Mongolia?