Cheap electricity for mining Bitcoin

[Hazyel]

yeah no offense, but I doubt anyone will send you their mining rigs just to get cheaper electricity. Many thing could go wrong. Rigs can be damaged during the shipment. It will be hard for people to trust you with their rigs.

same opinion here, i don't see it happening.

[n0ne]

Venezuela is the country which has the lowest electricity charge. At present due to the bad market of oil, Venezuela might have imposed a increase.

[kanazawa]

omg, this electricity "thing" is a kilometric conversation, it has no end...

venezuela, washington, north eastern europe, underground in china, but one thing I say with lotta propertie, don' t come to brazil to mine, you gonna lose everything and you'll pay to work, no chance to earn somethin. ahhahahaahah.

[sale666]

So your KW/H is 0.20 us cents?
Mine is about 0.059 domestic electricity :/..
And if over 7KW is used than i have ti use industrial power and its priced at 0.15 cents per KW.. However it can take months heck even years in my country until they figure out you are using more than 7Kw..  

How's that possible? Don't you have a charge register or a counter (idk how it's called in your country)? Where I live all houses and flats have a charge register which is sealed by the company providing you with electricity to make it impossible to change the counter reading.

Its because you get the bill in the mail and if you go over 7KW once its ok no problem but if its constant YOU have to go register YOURSELF that you are using more.. lol yea right ill do that.. And no 1 gives a fuc* they just send you bills and thats it but sometimes they go and check but as I said that happenes rarely.. I live in Croatia..

Theres even limitators that you have to install like you cannot use more than 5KW or you can buy additinal 1KW for like 200$ installment of power domestic use BUT they install that if you use the government electricity thats why you hire an individual to do the electric job in house and he doesnt put that and than its a wait game untill they figure it out... theres no fines or anything he simply "forgot" rofl... strange country mate

[avw1982]

Venezuela is the country which has the lowest electricity charge. At present due to the bad market of oil, Venezuela might have imposed a increase.

Oh thats good to hear bro. But You guys can try to go with Solar mining It will reduce the charge of electricity consumption. I would suggest you to start with big mining company make something good income in mining.
If you have Idea to start a small scale one, Please go with normal electricity itself.

[Zuminest]

as electricity is the core thing that drives bitcoin, one needs cheap electricity.. in very early days mining is effectively done with CPU's and GPU's... solar mining can be used as cost is low compared with other methods...

[KennyR]

as electricity is the core thing that drives bitcoin, one needs cheap electricity.. in very early days mining is effectively done with CPU's and GPU's... solar mining can be used as cost is low compared with other methods...

Solar mining can be prioritized only at certain locations, because everywhere solar mining will not be much effective as electricity generated through other means.

[Erumara]

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

[samlanhan1]

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

[Amph]

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

i remember my highest bills was above 600 euro, nearly 700, but the price per kw/h here is very high, up to a maximum of 25 cent per hour

[ALToids]

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

i remember my highest bills was above 600 euro, nearly 700, but the price per kw/h here is very high, up to a maximum of 25 cent per hour

Are you in California?  I think that state has the worst rates for all of the US. I think somebody in San Diego said they were paying 0.32 or something.

[Amph]

Though my mine is still very much in it's infancy, I'm glad to be mining in Alberta. It's a deregulated energy market and there is companies willing to provide 250,000Kw/yr at wholesale + $.01CDN or roughly $0.024USD/kWh at present. I've known some people who use decent amounts of power for some horticultural endeavours and they have never had an issue with the power companies (I have read some horror stories from the states with power companies refusing service or demanding exorbitant rates once they find out people are mining etc.)

I will definitely be keeping the community in the loop, my contract isn't down at the $0.024 mark but is damn close, just no reason to swap companies with such a small operation at present. Personally, I hope they come bitching about power factor or something so I have a good excuse to get out of my contract and go cheaper.

The US can be treachourous when it comes to utilities . We've pay nearly 300+ on a bill in the winter.

i remember my highest bills was above 600 euro, nearly 700, but the price per kw/h here is very high, up to a maximum of 25 cent per hour

Are you in California?  I think that state has the worst rates for all of the US. I think somebody in San Diego said they were paying 0.32 or something.

no in italy, but it was a sum of multiple bills, due to the fact that the first one was wrong, so the latter one increased too much

[Gahs]

I am building a Bitcoin mining data center in Venezuela, a country with very cheap electricity. I am planning on offering full hosting at first for the equivalent of 0.20 USD per KW/h to cover initial costs, then reducing the fee to 0.15 USD per KW/h, or even lower, including space, Internet, electricity, and cooling. No setup costs. You send the equipment, and we plug it in and set it hashing. I would like to gauge interest in such an arrangement.

Naturally there are some risks. As many of you already know, Venezuela is a country with a hybrid regime, terrible property rights, violent crime, civil unrest, very high inflation, censorship, and electricity brown-outs that are a bit more frequent than they should (1-2 times per month for a couple of hours).

Nonetheless, cheap electricity is what a miner needs, not necessarily a very stable supply. If electricity falters too often, I will install power generators since petrol is extremely cheap in Venezuela as well.

Would you put your miners in Venezuela if I were to offer such a service?

The cheap cost is alluring but this civil unrest you mentioned has got me thinking: I hope I don't get shot on my way to get a burger.

[leowonderful]

I am building a Bitcoin mining data center in Venezuela, a country with very cheap electricity. I am planning on offering full hosting at first for the equivalent of 0.20 USD per KW/h to cover initial costs, then reducing the fee to 0.15 USD per KW/h, or even lower, including space, Internet, electricity, and cooling. No setup costs. You send the equipment, and we plug it in and set it hashing. I would like to gauge interest in such an arrangement.

Naturally there are some risks. As many of you already know, Venezuela is a country with a hybrid regime, terrible property rights, violent crime, civil unrest, very high inflation, censorship, and electricity brown-outs that are a bit more frequent than they should (1-2 times per month for a couple of hours).

Nonetheless, cheap electricity is what a miner needs, not necessarily a very stable supply. If electricity falters too often, I will install power generators since petrol is extremely cheap in Venezuela as well.

Would you put your miners in Venezuela if I were to offer such a service?

The cheap cost is alluring but this civil unrest you mentioned has got me thinking: I hope I don't get shot on my way to get a burger.

There's always risk involved for profit; in this case you COULD get shot while trying to get a bag o chips. I'd put my miners in Venezuela but seriously the risk is way lower than the reward. 0.2/kwh sucks for elec alone, but coupled with cooling it's an ok deal

[Sierra8561]

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.

[MantoXie]

why don't you think about indonesia ? there electric cost only 0.075/Kwh, and there food also very cheap, and you can live here with low cost with your mine as well, think about it ! you won't disappoint

[LuxuryPrince]

I have always been curious about mining.  So now you have a rig costing 20k. Let's assume you spend nothing on electricity, how much will you make aa month?

[QuintLeo]

why don't you think about indonesia ? there electric cost only 0.075/Kwh, and there food also very cheap, and you can live here with low cost with your mine as well, think about it ! you won't disappoint

0.075/KWH is semi-cheap, but not VERY VERY cheap. You can do a lot better even in certain parts of the US, and no worries about (relative) political instability and "foreign intruders" type stuff.

 Up side, parts of what is now Indonesia were dominated by the British long enough there's a significant percentage of English speaking folks there.

[TommyBitcoin]

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!

[xIIImaL]

why don't you think about indonesia ? there electric cost only 0.075/Kwh, and there food also very cheap, and you can live here with low cost with your mine as well, think about it ! you won't disappoint

0.075/KWH is semi-cheap, but not VERY VERY cheap. You can do a lot better even in certain parts of the US, and no worries about (relative) political instability and "foreign intruders" type stuff.

 Up side, parts of what is now Indonesia were dominated by the British long enough there's a significant percentage of English speaking folks there.

I would suggest you to go with solar electricity to reduce the power consumption charges to Government. When you do installing Solar panels you have to go big business, because Low budget will not work good for Solar mining.