Cheapest electricity in the world

[notlist3d]

Well, you could always tap into your neighbor's line.... that would probably be the cheapest.  But other than that, the cheapest may be to start a company and register as commercial.  Most places have a preferential commercial rate.  Obviously this has other overhead costs as well.  There's no such thing as a free lunch.

That's kinda common here on our country (mostly known as jumper) especially on most of the squatters areas, actually it's free of cost but its illegal (you can bribe policemen here though whenever you've been caught ) and they are more likely prone to fire. I've heard that's what also some miners here on country do cuz electricity here was so expensive.

What country are you in? Seems crazy to screw around with the meters.   Let alone add theft to it.

Are you saying they are just bypassing the meters?  Scary stuff.

I'm from the Philippines and that scary stuff was pretty common here We are living on a poor country with high cost electricity so that poor people used to do that just to have an electricity, not only poor people. Also people that can afford to pay electricity do it just to have some savings on their income.

Thanks for telling story about it OP.  Interesting to say the least.  Hard to imagine people doing this.

You could not pay me enough to work on live wire bypassing a meter for safety reasons.  Let alone the legal reasons on not doing it.

In my country the fine for manipulating your electricity meter used to be about 200$ (i dont know the current fine), or in larger (industrial scale) theft cases 3 months prison.

The electricity costs about 100$ for a normal household.

Thus if people bribe police (which they do), and can get away for 2-3 years, then it's cost effective to do so.

You dont pay for 2 years, that is 2400$ saved and then pay a fine of 200$.

__________________

I think they made the fine bigger by now, but many people did this here. I never did , plus I live in a rent so I cannot do it anyway, but many of the ex neighbors where I lived in the past did it, and got away with it.

I dont know in what country you live man, but there is big corruption in the world , that you cant even imagine.

That is crazy if you stole that much electricity in US it's hard to tell what you would get.  It's technically a felony just from stolen electricity in value pretty quickly.  We have meters that are pretty smart lately.  Now they are using digital some cities send out the info of meter.  I'm far enough away though they come and read my meter once a month.

I can't imagine getting away with just a fine.  Definitely different cultures, which is part of what makes the board so intersting.

[RealBitcoin]

That is crazy if you stole that much electricity in US it's hard to tell what you would get.  It's technically a felony just from stolen electricity in value pretty quickly.  We have meters that are pretty smart lately.  Now they are using digital some cities send out the info of meter.  I'm far enough away though they come and read my meter once a month.

I can't imagine getting away with just a fine.  Definitely different cultures, which is part of what makes the board so intersting.

Pretty draconian laws there, but yea, this kind of collectivist theft is annoying me too.

They do the same for water, heating, and property taxes here, and the fine for each one is about the same. Even the 3 month jail sentence is rarely given, and only to industrial thiefs who like connect their factory to the power line and cheat, but I guess they sometimes get away with that too.

The funny thing is that there werent any inspectors even in the past 20 years, they only reintroduced them a few months ago.


The problem is that for honest people like me, they put 100 taxes on electricity, yes its relatively cheap to international levels, but as in my income/electricity cost ratio, its pretty high, and it sucks.

Its not that electricity is not subsidized here, its taxed 1000 times. Starting from EU taxes to green taxes , VAT, and other bullshit (just to cover the cost of these thiefs).

I have no chance of mining here profitably.

[soyab0007]

In Conclusion, which country having cheaper electricity?

[Cafa]

Countries with cheap electricity:
Argentina, Bangladesh, Bhutan, Egypt, China, India, Iceland, Kazakhstan, Kuwait, Myanmar, Suriname, Sweden, Trinidad & Tobago, Ukraine, UAE, Uzbekistan, Vietnam.

In China you can go as low as 0.04c/kWh (according to Wikipedia) so that would be the winner.

[Arcteryx]

Countries with cheap electricity:
Argentina, Bangladesh, Bhutan, Egypt, China, India, Iceland, Kazakhstan, Kuwait, Myanmar, Suriname, Sweden, Trinidad & Tobago, Ukraine, UAE, Uzbekistan, Vietnam.

In China you can go as low as 0.04c/kWh (according to Wikipedia) so that would be the winner.

Heard in Venezuela their electricity is free and it seems from the reports that miner's are being arrested from abusing and taking advantage of this. So it does seem to verify this claim of "free electricity" but at a price of your very own freedom is the cost.

[Cereberus]

I wish I lived in Kazakhstan if the cost for 1 member yearly is 7 Usd. I pay 0.16 cent /kwH electricity so I am only mining with a GTX 750 ti for fun because it doesn't go more than 45 watt in consume this card. Impressive by all means to pay 7 Usd for whole year for electricity. That country has a bright future if you ask me.

[Arcteryx]

I wish I lived in Kazakhstan if the cost for 1 member yearly is 7 Usd. I pay 0.16 cent /kwH electricity so I am only mining with a GTX 750 ti for fun because it doesn't go more than 45 watt in consume this card. Impressive by all means to pay 7 Usd for whole year for electricity. That country has a bright future if you ask me.

You also would be in peril for your life there.
Saving on electricity is worth it to be in a frantic state all hours of the day of being afraid if a bomb is to be dropped on you head one day to the next of that whole year of mining?
My life is worth more than a bill of 7 USD for electricity that's for sure.

[xIIImaL]

I wish I lived in Kazakhstan if the cost for 1 member yearly is 7 Usd. I pay 0.16 cent /kwH electricity so I am only mining with a GTX 750 ti for fun because it doesn't go more than 45 watt in consume this card. Impressive by all means to pay 7 Usd for whole year for electricity. That country has a bright future if you ask me.

Where-ever you are from, electricity is the biggest problem miners. Alternatively nowadays many big miners were already invested on solar miners for the electricity cost out. Antminer or anything else, according to me solar miners would be best option for the people who do mining as their main business.

[peter0425]

I wish I lived in Kazakhstan if the cost for 1 member yearly is 7 Usd. I pay 0.16 cent /kwH electricity so I am only mining with a GTX 750 ti for fun because it doesn't go more than 45 watt in consume this card. Impressive by all means to pay 7 Usd for whole year for electricity. That country has a bright future if you ask me.

Where-ever you are from, electricity is the biggest problem miners. Alternatively nowadays many big miners were already invested on solar miners for the electricity cost out. Antminer or anything else, according to me solar miners would be best option for the people who do mining as their main business.

Correct me if I'm wrong, with solar miners, you have to buy a lot of solar panel right? And the price of one solar panel is expensive. So I don't think you will also benefit from using it and the ROI will literally take you years just to able to break even in you investments.

[mrcash02]

I wish I lived in Kazakhstan if the cost for 1 member yearly is 7 Usd. I pay 0.16 cent /kwH electricity so I am only mining with a GTX 750 ti for fun because it doesn't go more than 45 watt in consume this card. Impressive by all means to pay 7 Usd for whole year for electricity. That country has a bright future if you ask me.

Where-ever you are from, electricity is the biggest problem miners. Alternatively nowadays many big miners were already invested on solar miners for the electricity cost out. Antminer or anything else, according to me solar miners would be best option for the people who do mining as their main business.

Correct me if I'm wrong, with solar miners, you have to buy a lot of solar panel right? And the price of one solar panel is expensive. So I don't think you will also benefit from using it and the ROI will literally take you years just to able to break even in you investments.

It's true, the solar panels are very expensive and in my opinion doesn't worth to buy it only to mine Bitcoins or other Crypto-Currencies. If you have another plans that you need energy, I think it's a good idea, something that you can make profit parallel to your Crypto mining using the energy from solar panels. Don't spect ROI only from Crypto mining, think big and you can hit ROI faster.

[RJX]

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

Electricy may be cheap in Iceland but damn near everything else is really expensive because everything is imported. Setting up shop there would make for a nice business model but they'll kill you with overhead.

[greenwall2002]

maybe china is the cheapest, because many miner are from china.

[alphabeta0]

I don't know about the cheapest in the world but compared to the US, Mexico is pretty dang cheap.

[bohr]

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

Solar power is expensive, if it was as cheap as advertised there will be lots of solar farms instead of coal plants, that is just the way it is, also solar power is not reliable at all, since as the name implies it depends on the sun.

[Mihaylovic]

I guess post soviet countries are cheapest ones. Such as kazakhistan, azerbaijan, turkmenistan. But rules in such countries are usually very strict so i dunno if it is possible to invest in these countries for mining or not.

[Zencash]

Solar energy is a nice alternative but the investment is something (example: http://www.bimblesolar.com/bitcoinsolar)
The good news is that if you invest enough you can also provide energy to your house.
The bad news is that the battery will not last forever so you'll have to invest again a bit every few years.

[canah17]

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.

Well i have got in mind here and as an observation and i have searched for it the country that have the most cheapest electricity is the country of China they are mining there most of them are mining and they have the cheapest electricity they can go on and on on their mining but the problem you need a powerful PC for mining. China has the cheapest electricity in the world believe me for it

[Nachalnik]

in Guinea, the electricity is free, although it is not stable and isn't on 24/7

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[peter0425]

in Guinea, the electricity is free, although it is not stable and isn't on 24/7

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Because they are producing their own electricity It think. But if the service is poor and not stable and if the supply of electricity is not even 24/7, I guess the living condition of the people there is not well. Because we need electricity everyday not just a certain hours of the day. Especially at night when you need electricity to run you air-con or your electric fan to help you have a good sleep. I think China is still the no. 1 because of cheap and abundant of electricity 24/7 unless there is a power outage.

[Vaskiy]

Venezuela is known to the world as the cheapest electricity provider. Due to the cheap electricity availability bitcoin mining got popular during which regulations were made and several mining firms around the country were destroyed.