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Author Topic: Cheapest electricity in the world  (Read 20638 times)
Endgameuser
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April 06, 2012, 01:40:40 PM
 #1

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
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April 06, 2012, 05:21:45 PM
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Have you considered solar power? You could create a free to run miner that only runs during the day.

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5850Guy
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April 06, 2012, 07:18:27 PM
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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?

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CA Coins
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April 06, 2012, 07:51:26 PM
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If you really want to mine with high electricity cost, try FPGAs
DeathAndTaxes
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April 06, 2012, 08:14:16 PM
 #5

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
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April 07, 2012, 12:02:10 PM
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Iceland and Ukraine price it at $0.04 per Kw, in Iceland you benefit from cold environment too so no cooling costs.
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April 07, 2012, 12:03:42 PM
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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 Cheesy
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April 07, 2012, 12:06:17 PM
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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.
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April 07, 2012, 12:14:58 PM
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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.

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ldrgn
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April 08, 2012, 12:32:30 AM
 #10

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...
VoluntaryMan
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April 08, 2012, 12:50:31 AM
 #11

I think your best bet if you live in an area with high electricity bills is go with FPGA mining!
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Sannyasi
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April 08, 2012, 01:11:54 AM
 #12

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

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April 08, 2012, 01:44:42 AM
 #13

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

mooo for rent
Nyaaan
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April 08, 2012, 07:54:40 AM
 #14

Come to my country, electricity is free through various means.
Jurema
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April 08, 2012, 01:49:01 PM
 #15

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 Wink
Solar panels.. all you need.
Although the investment at first might be a bit steep

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April 08, 2012, 02:16:40 PM
 #16

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

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Jurema
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April 08, 2012, 03:02:02 PM
 #17

Cuba probably.

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VoluntaryMan
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April 08, 2012, 03:50:13 PM
 #18

Cuba probably.
I wonder if there are miners in Cuba...
Probably pretty hard to get cards down there!

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anyigiumex
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April 08, 2012, 06:31:49 PM
 #19

send me email let us to business. anyigiumexinternational@gmail.com if you can set up a good electricity just email me.
spoc
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April 08, 2012, 07:58:49 PM
 #20

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 ....
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