Cheapest electricity in the world

[Endgameuser]

I am wondering which countries in the world have the cheapest electricity, and would thus be ideal for mining bitcoins.

I am from Australia, and I can tell you that we have some of the most overpriced electricity in the world, meaning I will probably need to go overseas if i want to mine competitively.

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[alexbishops]

Have you considered solar power? You could create a free to run miner that only runs during the day.

[5850Guy]

I am wondering which countries in the world have the cheapest electricity, and would thus be ideal for mining bitcoins.

I am from Australia, and I can tell you that we have some of the most overpriced electricity in the world, meaning I will probably need to go overseas if i want to mine competitively.

Maybe...ours is like 12 cents per KWH in my part of the USA.

Maybe look into mining contracts?

[CA Coins]

If you really want to mine with high electricity cost, try FPGAs

[DeathAndTaxes]

Have you considered solar power? You could create a free to run miner that only runs during the day.

Solar isn't free.

Tell you what I'll sell you all the free solar you want.
You pay me $10,000 per KW upfront and I will provide you lifetime "free" power.
How many "free" KW you want to buy right now?

[ice_chill]

Iceland and Ukraine price it at $0.04 per Kw, in Iceland you benefit from cold environment too so no cooling costs.

[bulanula]

Iceland and Ukraine price it at $0.04 per Kw, in Iceland you benefit from cold environment too so no cooling costs.

Too bad the language is very different from English in those countries

[ice_chill]

Well English is international so in those countries English will be the foreign language that is taught in school. Anyway money is the universal language.

[alexbishops]

Have you considered solar power? You could create a free to run miner that only runs during the day.

Solar isn't free.

Tell you what I'll sell you all the free solar you want.
You pay me $10,000 per KW upfront and I will provide you lifetime "free" power.
How many "free" KW you want to buy right now?

I concur. However providing the solar panels don't stop working they retain value. So so long as you are able to make more money out of mining than the difference between the resale value of the panels and the original price you will be making a net profit. This is obviously more risky than simply paying for the electric as normal. I only thought of this because Australia's a pretty sunny place.

[ldrgn]

Omaha, NE isn't bad!  5.79 cents/kWh past 1k kWh in the winter.  We're not up to our knees in rednecks either: there are jobs here and there's plenty to do (like cow tipping on Warren Buffet's front lawn).  I wonder if there are mining calculators that factor in A/C costs over the summer...

[Sannyasi]

we are .08-.12- it changes yearly.

[joulesbeef]

Kazakhstan, mexico, taiwan, norway then the us in that order. unless you incorporate.

[Nyaaan]

Come to my country, electricity is free through various means.

[Jurema]

Have you considered solar power? You could create a free to run miner that only runs during the day.

Or, get some rechargeable batteries, have it running day and night
Solar panels.. all you need.
Although the investment at first might be a bit steep

[Nixzor]

in Khazakstan electricity costs ~ 7 dollar per family member per year.

[Jurema]

Cuba probably.

[anyigiumex]

send me email let us to business. anyigiumexinternational@gmail.com if you can set up a good electricity just email me.

[spoc]

Have you considered solar power? You could create a free to run miner that only runs during the day.

It's not free - you have to invest and maintain the solar power ....

[Endgameuser]

So the suggestions are kazakstan, cuba, mexico, ukraine, norway, iceland. That's interesting, because only two of those are in the wikipedia page on electricity pricing:

http://en.wikipedia.org/wiki/Electricity_pricing#Price_comparison

Out of these, iceland and norway seem the most suitable for westerners interested in bitcoin mining when you consider safety and language barriers.

[Endgameuser]

Iceland and Ukraine price it at $0.04 per Kw, in Iceland you benefit from cold environment too so no cooling costs.

Too bad the language is very different from English in those countries

English is widely spoken as a second language in both norway and iceland