Cheap electricity for mining Bitcoin

[karmenali]

Go build up your solar system will be better for future

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[Betwrong]

Not Indonesia, the peninsula is a small country call Malaysia, the industrial rate is +- usd0.10 to 0.11 /kwh, resident pay more @ +-0.14/kwh, the ambient Temp is 24-35'c all year long

sounds nice, but ...
additional powercost for aircondition
additional invest for aircondition
wet conditions! (bad for airconditions - ask china)
political safe area?

I would prefer those 3 rocking us-cent @USA
In india you can get power @0.1 - 0.2 us-cent / kwh

But ... the same like Malaysia. Quality. Stable and always are a problem.
Even USA has really more power-cut-offs then europe - but that is fine on average.

Why I have such a bad feeling about Malaysia? I dont know. Malaysia Airlines maybe?  

here in south east asia, bit coin mining is very hard due to the power cost & the hot climate.

Not much people know about malaysia except the 2 malaysia airline tragedy and the famous 1MDB scandal by their top leader

The power price you mentioned is very nice, but the hot climate will be a problem.
It would need heavy cooling!

What is about hardware? (costs, avaible, delivery time etc.)
And political its allowed to mine and use bitcoin @Malaysia?

If the temperature around is too high what if to put the miners in a deep cellar? As far as I know the temperature under ground is pretty low no matter how high it is above the ground.

[QuestionQuest]

Not Indonesia, the peninsula is a small country call Malaysia, the industrial rate is +- usd0.10 to 0.11 /kwh, resident pay more @ +-0.14/kwh, the ambient Temp is 24-35'c all year long

sounds nice, but ...
additional powercost for aircondition
additional invest for aircondition
wet conditions! (bad for airconditions - ask china)
political safe area?

I would prefer those 3 rocking us-cent @USA
In india you can get power @0.1 - 0.2 us-cent / kwh

But ... the same like Malaysia. Quality. Stable and always are a problem.
Even USA has really more power-cut-offs then europe - but that is fine on average.

Why I have such a bad feeling about Malaysia? I dont know. Malaysia Airlines maybe?  

here in south east asia, bit coin mining is very hard due to the power cost & the hot climate.

Not much people know about malaysia except the 2 malaysia airline tragedy and the famous 1MDB scandal by their top leader

The power price you mentioned is very nice, but the hot climate will be a problem.
It would need heavy cooling!

What is about hardware? (costs, avaible, delivery time etc.)
And political its allowed to mine and use bitcoin @Malaysia?

If the temperature around is too high what if to put the miners in a deep cellar? As far as I know the temperature under ground is pretty low no matter how high it is above the ground.

Of course underground is possible.
If you have an old deep atom shelter or an old empty mine or whatever is deep.

Otherwise you first have to think about investing $ 20,- for your plan -> http://www.homedepot.com/p/Ames-46-5-in-Fiberglass-Handle-Digging-Shovel-with-Comfort-Step-25332100/204476046

[Nevis]

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?

If you were to offer me that service in Venezuela I may grab that opportunity. But only if violent crimes and civil unrest is solved. I will not like to lost my hard earned money just to be lost in an instant due to civil war or be victim of crimes. Venezuelas condition is a threat to business so I will say no.

[MoneyJ]

Here in the Philippines we have so expensive rate for electricity because of old infrastructures to produce electricty. Sometimes we really experience power interruptions because it cannot sustain the power needed especially during summer season.

[willy_00]

get solar power

Too costly to get that, if you factor the cost into your rig, the ROI is never..

he probably lives in a desert

Sure and I wonder where he gets cooling.

[QuintLeo]

Here in the Philippines we have so expensive rate for electricity because of old infrastructures to produce electricty. Sometimes we really experience power interruptions because it cannot sustain the power needed especially during summer season.

 You also have to import most if not all of your fuel, that helps drive your rates up.



 Underground is NOT generally a good idea if you have to worry about high heat dissippation (like in cryptocoin mining), it might be inherently cool but all that rock/dirt/etc acts like insulation making it hard to get a LOT of heat out of the space.
 Might be OK if you're using some sort of active cooling, like a geothermal loop or some such, or if you set it up like a quanat (sp?) with lots of airflow driven by height difference between the input and the output.

[QuestionQuest]

Here in the Philippines we have so expensive rate for electricity because of old infrastructures to produce electricty. Sometimes we really experience power interruptions because it cannot sustain the power needed especially during summer season.

 You also have to import most if not all of your fuel, that helps drive your rates up.



 Underground is NOT generally a good idea if you have to worry about high heat dissippation (like in cryptocoin mining), it might be inherently cool but all that rock/dirt/etc acts like insulation making it hard to get a LOT of heat out of the space.
 Might be OK if you're using some sort of active cooling, like a geothermal loop or some such, or if you set it up like a quanat (sp?) with lots of airflow driven by height difference between the input and the output.

Well, underground is a good idea and already is existing in several nuclear protection bunker.
But I mean the big one for the politicians and state for 30.000 people with own infrastructure ... etc.

A big (old) one like in Bad Neuenahr, Germany or all the old one because of the WW2.

France:
La Rochelle-La Pallice
Brest

Italy:
Vallo Alpino

etc. etc. etc. (see wikipedia)

Some of those bunker are more clean then your house will ever be!
A city which can live 30 days without anyone from outside (WATER, AIR, FOOD, MEDICINE ... AND PLACE FOR THE WASTE!!! --- you need more room for 30.000 people waste then you can imagine).
Everything is reachable with a small electric cart (some with trailer) and they are more looking like golf caddies driving in the underground.
And ofc you dont have to walk if you missed a caddy. Use some of the several bikes to get from sector A to B or C etc.

EVERYTHINK. EVERY CORD. EVERY LINE. EVERY FAN --- is already installed and useable.
ALL LINE are not just installed. They are hanging down from the blanket on little cord and feather.
Any earthquake and no cord or pipe would break - that is not dirty, that is brilliant for any datacenter location.

Dirty = Underground
Clean = Surface

No - ofc not - its always a question of WHERE and WHAT.


And before you say - not possible underground:
http://twistedsifter.com/2013/05/bahnhof-data-center-inside-nuclear-bunker-from-cold-war/
http://www.datacenterdynamics.com/content-tracks/security-risk/norwegian-bank-moves-into-nato-bunker/82571.fullarticle
http://www.whoishostingthis.com/blog/2013/12/11/worlds-unusual-data-centers/

So what?
I say it is perfect and possible (with a lot of proofs worldwide!)
Always 8°C starting at 150m under the ground is a nice condition.

But because you all dont have the power to invest millions in it.
Because no one would believe in it.
You have one way to fullfill your dream of underground-datacenter ->  http://www.homedepot.com/p/Ames-46-5-in-Fiberglass-Handle-Digging-Shovel-with-Comfort-Step-25332100/204476046

... and that could turn into a dirty mess ^^

[QuestionQuest]

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We all know HashOcean - the leading and growing big ponzy bubble with maybe black money or maybe illegal used computers and with NO proofed background informations.
But this post is OFF TOPIC anyways.

At the end all know that you have to use the referal number 546985 at registration to gain the highest bonus at Hashocean

Anyways: Hashflare or Genesis are serious. HO is not - even if you get the coins.

And you are not serious, too. You are a spamming BEEP BEEP BEEP and you BEEP BEEP is BEEP BEEP from your mothers BEEP BEEP to BEEP BEEP BEEP!! 

Beep is so perfect to use. Thank you FOX 

[QuintLeo]

Do note that ALL of those examples you cited of underground data centers have SOME SORT OF ACTIVE COOLING.

 Do note that I specifically meantioned that.

[QuestionQuest]

Do note that ALL of those examples you cited of underground data centers have SOME SORT OF ACTIVE COOLING.

 Do note that I specifically meantioned that.

Ofc. Because human beeings are pushing too hard to the limits.
1000 machines would be ok, but they need to have 10.000 in it

[hackl3r]

post your webpage when you decided yourself

[QuestionQuest]

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. That’s probably what you pay right now only in electricity, excluding other hosting costs. I will reduce the fee by 25% after the first two months when the operation is up and running, and it’s very likely I will reduce fees even further as time goes by. I can further reduce fees significantly because the electricity in Venezuela is virtually free. Your rig can remain profitable even when it cannot pay for electricity where you live.

Well - I could show you a way to pay a maximum of 150 USD per 6000W / month.
With cooling lets say 300 USD per 6000W / month.

In deed the cooling mutliplier in this area is not between x1.5 to x3.0 like in most european or american datacenters. Its more like x1.1
But lets say its x2 and this leads to 300 USD per 6000 W / month and we already have all other costs covered.

But tell me one point:
Why I should tell anyone if I know it?
Maybe your starting money is not enough!

That is a real point on a mining adventure and the same like for digging real gold.
You cannot go in with 1.000 or 10.000 --- you need more starting money and you will always have a high risk.


But a price of 0.2 or 0.15 or 0.1 USD per kwh is not working. Nobody will invest, because it wont work.


Crowd funding will not work in such a project.
People will give you trust, if you tell them what you are planning to do.
But those people who have the money (big player) wont need you!
They will take the idea and earn more without you. A bad circle you cannot leave easy

Maybe best way is BTC hosting for foreign machines?
The winnings could be used to invest in own machines ... etc. etc.
But best? No!
Buying in bulk = discounts
Buying time by time = more expensive

You can calculate it 100x times ... under 150.000 USD starting invests and without the knowledge (and connections to people) about the perfect location you will run in problems and nobody will send you expensive hardware.

And before you ask:
Yes, I have such connections. No, they are not interested in your money, partnership or anything else
I have the option to do "more" on my own. But --- I am satisfied with everything I have. No need of more money for more work.
Enough money for perfect work is my goal

[groll]

Blackouts won’t damage miners. Power surges damage miners. There have been two brownouts in Caracas during 2014. If it becomes too much of an issue, gas is extremely cheap too. I would buy a generator. Power surges and voltage variations will be dealt with using appropriate equipment.

Miners have a limited lifetime because of the increase in difficulty. Operating older unprofitable miners in Venezuela can bring new life to them.

I have my own mining hardware, and the facility is being prepared to receive this hardware over the next couple of weeks. I will be buying additional end-of-life older ASIC hardware myself to plug it there, but there is enough space, cooling and energy in the building to host more hardware than what I am bringing in.

When all is said and done, if the Bitcoin price stagnates, and the power efficiency of chips stop increasing dramatically, mining power will stabilize at a point where it is barely profitable at EU/USA electricity prices. Having cheap electricity is advantageous.

My own operating costs are three times less by sending this hardware there. This makes the difference between breaking even and making a profit on an ASIC investment. If I add other miner’s hardware, my own operating costs would lower even more. Scale is good.

The reason data centers are in developed countries is because they are cooler, and they have good Internet links. Venezuela has little undersea fiber connecting it to the rest of the world, therefore bandwidth and latency are a problem for most services. Also much of the country is steady at 27-35°C throughout the whole year. My facility is in at an altitude of 1500m over sea level near Caracas, so there’s better electricity and Internet connection than in rural areas, and temperatures are much lower than at sea level (16-22°C). But it is not in the city center, so the space itself is cheap and there’s land to continue building more space for mining as required.

For the trust issue, and escrow, that can be done. We definitely need to discuss that further. Is there anyone who has older ASIC hardware that is nearing the edge of profitbility?

Power surges really is troublesome , with high power voltage needs for mining and power surges comes along the hardwares or other electrical parts may get damaged. My gpu along with my asic hardwares was luckily not damaged but my avr and ups was damaged. My fault was not asking the assistance from an electrician when I set up my miners. Right now I sold all 5 of my asic miners including my 2 s5 antminer and 1 s7 which I bought from bitmain.

[soyhim]

Thanks everybody for the input, it's sure interesting to learn all this stuff.
This is my first message here and I would like to start specially here in this topic.
So what I would like to offer here. First of all: The cheapest and the most reliable source of electricity in the world.
Right now build a farm is in progress and soon it will be finished, which will be targeted at consuming 50 MegaWatts per hour.
Soon I will be able to show you some pictures of it. And in the future it will be possible to get more megawatts per hour, maybe 200 or more.
Oh, yeah, the source of electricity is the hydroelectrostation on Angara river in Irkutsk city, Russia.
Which is the only river running our from lake Baikal. It is a big river. The amount of electricity produced here is huge and there is no industry to consume all of it. That's why the price is not more than $0,017 per kilowatt per hour. Its pretty cheap
Also there is a pretty cool siberian climate which gives a good saving on cooling the whole farm.
Summers can be hot, but they are too short to worry about it (and they are not so hot), also it’s a nice time to visit lake Baikal and have fun exploring and traveling. Everybody here is into ecotourism and spending time in eco-friendly environments.
Mining operation and farm is managed by very experienced entrepreneur and businessman who runs several businesses here in Irkutsk. Businesses related to law, accounting and real estate. More information is available on request: email, facebook page, phone number. Just PM me.
Also you don’t have to bring or ship your equipment to Irkutsk. You can, if you want, we can help with customs and logistics, but the best thing is to invest into new machines/miners. Bitman does a very good business, and their main office and repair shop is located in Irkutsk, they make best miners in China and we have partners who can import as many as you want and deliver them to the farm, where miners will be put into operation, services, monitored. You just have to pay services costs. The price is negotiable individually with everyone who is going to do this. The services are world class, and you can have all the information you need, also mined bitcoins will be sent to your wallet daily.
So, we invite international investors to take this into consideration. We invite anyone who is interested to visit us. This is a great opportunity to get greatest connections in the area related to bitcoin mining business.
If you have any question, or would like to continue this talk please feel free to write here or PM me.
Peace!

[le0heart]

Hint: Facebook data center is in Sweden    (cooling costs / electricity costs)

[reda]

You can always do off grid electricity work like solar panels, or you can use public spaces maybe for bitcoin mining (lol)

Rent an apartment with free electricity, or get a hotel room and break even mining!

Bitcoin mining is need to more power for the using purposes. So solar panels good for the power saving and future business improvement. you will get the more information for the investing for the share market.

Rent apartment if use to start increase  your electric bill. So before you use the mining check and sagest the mining users. It will give some tips. But you will know the mining software it important for the mining process.

[Tavarez]

Island is a possible solution for mining, you get cheap electricity and cool air. but you need to rent some building as mining is very loud process.
Climate in Island suits the business as outside air is chilly enough to keep your electricity bills reasonable.

[grifter1870]

i really wanted to try mining again, and no more gambling my bitcoins ;( but sadly all my bitcoins are in gambling sites... ;(

[rizwanalijcb]

For mining bitcoin cost of electricity is 0.10$ per kwh is best