Looking for a place that has cheap electricity to live and mine

[deniz777]

Hello, I am looking for cheap electricity around the world. Environmentally friendly energy and settling in a liveable/secure place are important for me. I will invest about $60.000 - $70.000 at the first stage and continue to invest with my earnings. Sure I checked https://www.globalpetrolprices.com/electricity_prices/ for electricity prices but prices change all the time and there may be other changes like discounts, locally changing prices, incentives etc. That's why I wanted to ask here.

[BitMaxz]

Have you check the link that you posted above you can find the button to download the latest data from March 2021.

I tried to search but there is no other source of the latest data than on the link you posted above. Look here https://www.globalpetrolprices.com/data_electricity_download.php

Since you have a big amount to invest why not build your own green energy Electricity source? This is the best choice to power your miners check the OgNasty thread here https://bitcointalk.org/index.php?topic=1783328.0

[FP91G]

Study the situation in Russia and Kazakhstan, the cost of electricity from $ 0.015 per kilowatt.
These are not the lowest prices in the world, because mining in these countries is not heavily controlled by the state.
Russia has a lot of hydroelectric power plants in Siberia, so green energy is not needed there.

[NotFuzzyWarm]

Russia has a lot of hydroelectric power plants in Siberia, so green energy is not needed there.

Um, last I heard hydroelectric IS green energy. Zero carbon footprint, utterly renewable, and all that...

[zeeshan856]

According that website cheap electricity countries are Venezuela, Sudan, Libya, Iran etc. But we should keep in mind economics conditions, political conditions & safety. These countries are not stable in term of these...

I personally believe priority should given to that countries that have favorable view or officially supporting crypto. Then after that electricity should give priority.

[mikeywith]

If it was this simple, nobody would mine bitcoin in the U.S, China, or any other region, everyone would move to a country where power is dirt cheap and we all will become millionaires, unfortunately, the world does not function this way.

Most places that have cheap electricity have other major issues which most people rather not go through, the majority of those countries are pretty corrupted, so just because the power is cheap it does not mean the mining operation itself is cheap, you will still need to bribe some cops, mafias or a militia to be able to mine safely, and even if you were okay with that route then your operation needs to be either so huge that you can afford to keep those folks happy or too small to stay under the radar, in other words, you need a lot more than just 60-70k.

On top of that, you will need someone to get you there, a partner who will ask for a huge cut without sharing any risk or investment with you, there is so much to be said about this, but in short, those cheap rates are not for everyone and the average joe should not even think about it.

What's more important than that is the fact that mining isn't a no-loss business that will secure your financial life at no risk, I have almost free power, and yet I have encountered some serious losses in my mining investments, there is a lot that can go wrong, the power bill is just one of so many other things you need to worry about, add to that the fact that by next halving or the following if bitcoin price fails to reach super high prices the profitability of mining will just keep going down.

It might be okay for some people to consider mining bitcoin (despite the fact that most folks lose money and are better off just buying the coin) but moving to a new country just to mine bitcoin is one of the worst ideas I have heard this year.

[3dOOm]

Hello, I am looking for cheap electricity around the world. Environmentally friendly energy and settling in a liveable/secure place are important for me. I will invest about $60.000 - $70.000 at the first stage and continue to invest with my earnings. Sure I checked https://www.globalpetrolprices.com/electricity_prices/ for electricity prices but prices change all the time and there may be other changes like discounts, locally changing prices, incentives etc. That's why I wanted to ask here.

I think El Salvador is the best answer after the recent announcements of their president.

https://nypost.com/2021/06/11/el-salvador-volcanoes-to-power-bitcoin-mining/

[OriensXS]

If i can i would suggest you to check the ratio for USD vs local money and if there are communities who speak your native language  to support you, places where dollar value is huge like south america Brazil, Argentina or Chile can be good, raising the value of your money, but i would never recommend Venezuela through, you should never invest in a place where the governor can take your money "just because he can". Thinking about low electricity cost, the natural answer is to research solar power and just stay where you are(unless it's China?), but if you really want/need to go to another country then look for places with good tourism spots they should give you an idea of the area and how easy or not you can live there.

Well, good luck.

[DireWolfM14]

Going to another country might not be necessary.  Check for communities in your country and state that operate their own power infrastructure.  

A few rural counties in my home state have their own hydroelectric system that they use to generate power for their community at drastically discounted rates in comparison to the rest of the state.  They often sell surplus power to the big power companies and use that income to amortize the maintenance and operation costs, thus keeping the power rates affordable for the local communities.