The cost of electricity in the world

[calchuchesta]

The only way to make a killing with mining these days is living somewhere where the electricity is cheap as hell or you are in some sort of privileged position.

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[jstew]

utah , usa 4c kw , and should be getting my rate lowered this summer to 2.5c - 3c kw
in the summer i also have the option of getting free power if i shut off 4 hours a night mon - friday , and 12 hours per day on sat/sun , though its not an option for me since i do miner hosting

also have no demand charge

might work on moving to another location that has 1.9c kw power , but i think the setup cost, and moving cost may offset any gain i may see with the decrease in power cost

my current location has roughly enough power to run 2.8-3ish ph of s7's if i did the math right

[mickiya]

utah , usa 4c kw , and should be getting my rate lowered this summer to 2.5c - 3c kw
in the summer i also have the option of getting free power if i shut off 4 hours a night mon - friday , and 12 hours per day on sat/sun , though its not an option for me since i do miner hosting

also have no demand charge

might work on moving to another location that has 1.9c kw power , but i think the setup cost, and moving cost may offset any gain i may see with the decrease in power cost

my current location has roughly enough power to run 2.8-3ish ph of s7's if i did the math right

With 2.5 to 3c, your mining operation will last very long. Even after most miners become unprofitable, yours is still profitable.

[Betwrong]

utah , usa 4c kw , and should be getting my rate lowered this summer to  2.5c - 3c kw
in the summer i also have the option of getting free power if i shut off 4 hours a night mon - friday , and 12 hours per day on sat/sun , though its not an option for me since i do miner hosting

also have no demand charge

might work on moving to another location that has 1.9c kw power , but i think the setup cost, and moving cost may offset any gain i may see with the decrease in power cost

my current location has roughly enough power to run 2.8-3ish ph of s7's if i did the math right

I think you mean 2.5c - 3c kwh and that's a very good rate, you are lucky. And I agree with you that moving most likely will cost more than you gain from it. Just mine where you are. Good luck!

[kanazawa]

Indeed, if you got 2c or 4c per KWh in Utah, it's very ******* good.

Utah is a very beautiful place. It will be very ******** nice to mining there.

The cost of living is not so high as NY or LA, isn't ??

cheers !!!

 

[jstew]

thanks guys yeah i have the second cheapest power in utah , the first cheapest place is 1.9-3c kwh
one of the reasons i have such cheap power is because my facility is located on an agricultural farm so they get a discounted rate because of the amnount of power required to run the water pumps on the farm

Indeed, if you got 2c or 4c per KWh in Utah, it's very ******* good.

Utah is a very beautiful place. It will be very ******** nice to mining there.

The cost of living is not so high as NY or LA, isn't ??

cheers !!!

 

yes it is im originally from new jersey and utah is a much cheaper place to live by alot

[notlist3d]

thanks guys yeah i have the second cheapest power in utah , the first cheapest place is 1.9-3c kwh
one of the reasons i have such cheap power is because my facility is located on an agricultural farm so they get a discounted rate because of the amnount of power required to run the water pumps on the farm

Indeed, if you got 2c or 4c per KWh in Utah, it's very ******* good.

Utah is a very beautiful place. It will be very ******** nice to mining there.

The cost of living is not so high as NY or LA, isn't ??

cheers !!!

 

yes it is im originally from new jersey and utah is a much cheaper place to live by alot

Wish all farms have that.   My mining area is on a family farm as it had the electricity capacity in the Midwest.   I pay more then that though. 

Don't have the water pumps though with midwest luckily rain does it most years.  Although more and more water pump are showing up.   

[enhu]

If you could just use solar panels for your mining, you wouldn't have any bills to pay for the electricity. investing on solar panels however can be pricey though as you would need a lot to supply those rigs but this is very doable, i've seen it on youtube.

[jstew]

Wish all farms have that.   My mining area is on a family farm as it had the electricity capacity in the Midwest.   I pay more then that though.  

Don't have the water pumps though with midwest luckily rain does it most years.  Although more and more water pump are showing up.  

be happy we run 200kwh+ worth of water pumps non stop during the growing season the biggest single pump being 125hp.

[notlist3d]

If you could just use solar panels for your mining, you wouldn't have any bills to pay for the electricity. investing on solar panels however can be pricey though as you would need a lot to supply those rigs but this is very doable, i've seen it on youtube.

Doable.. but likely not the smartest thing as a miner you use lots of watts if you are a decent sized hobby miner.    Home miner with less might be easier.   But when you talk 10's of thousands of watts solar adds up.

The person with low electricity cost's wins in almost any comparison with solar.

[mickiya]

If you could just use solar panels for your mining, you wouldn't have any bills to pay for the electricity. investing on solar panels however can be pricey though as you would need a lot to supply those rigs but this is very doable, i've seen it on youtube.

With solar panel for mining, you need back up electricity as well, either mains or from batteries. The battery is expensive.

[kanazawa]

Guys,

I'm experiencing mining with solar panels since the beginning of 2014.
The worst part is that you have to use a huge space (or build a bunker), because, when you got lot of sun (like I, that I'm close to Ecuador, and the sun here is very strong) you have to cool your miners (with cold water pipes, lot of heat sinks or air conditioning) but all these options are expensive. I'm mining because I love Bitcoin and I hate the government.

if you have a MPPT charge controller, a sine wave inverter and good batteries, you don't have to worry so much. Best brands, long live to your system. I'm expecting at least 15 years, and I want to burn miners till S29 iahoihaoihaoihao.

ps: I'm mining since 2014, but my panels are from 2009. Kyocera Solar, I'm using it to power my house

MINING WITH PHOTOVOLTAIC PANELS IS SO FU****** COOL !!!

cheers  

[mickiya]

Guys,

I'm experiencing mining with solar panels since the beginning of 2014.
The worst part is that you have to use a huge space (or build a bunker), because, when you got lot of sun (like I, that I'm close to Ecuador, and the sun here is very strong) you have to cool your miners (with cold water pipes, lot of heat sinks or air conditioning) but all these options are expensive. I'm mining because I love Bitcoin and I hate the government.

if you have a MPPT charge controller, a sine wave inverter and good batteries, you don't have to worry so much. Best brands, long live to your system. I'm expecting at least 15 years, and I want to burn miners till S29 iahoihaoihaoihao.

ps: I'm mining since 2014, but my panels are from 2009. Kyocera Solar, I'm using it to power my house

MINING WITH PHOTOVOLTAIC PANELS IS SO FU****** COOL !!!

cheers  

What is the effective electricity price after taking into account of all the extra costs? Is that less than $10c per kWh?

[notlist3d]

Guys,

I'm experiencing mining with solar panels since the beginning of 2014.
The worst part is that you have to use a huge space (or build a bunker), because, when you got lot of sun (like I, that I'm close to Ecuador, and the sun here is very strong) you have to cool your miners (with cold water pipes, lot of heat sinks or air conditioning) but all these options are expensive. I'm mining because I love Bitcoin and I hate the government.

if you have a MPPT charge controller, a sine wave inverter and good batteries, you don't have to worry so much. Best brands, long live to your system. I'm expecting at least 15 years, and I want to burn miners till S29 iahoihaoihaoihao.

ps: I'm mining since 2014, but my panels are from 2009. Kyocera Solar, I'm using it to power my house

MINING WITH PHOTOVOLTAIC PANELS IS SO FU****** COOL !!!

cheers  

What is the effective electricity price after taking into account of all the extra costs? Is that less than $10c per kWh?

Also how many miners are you running? And how many watt's does it come out to?

Normally battery costs for thousands of watts of mining gear adds up pretty quick on cost.

[kanazawa]

it's like take a loan with fixed interest; then pay the redemption very slowly with a possibility of pay lot of parcels while you're goin' to pay just one.

a) you expend U$10.000 with all items to do a stand alone photovoltaic system;
b) you expend U$10.000 with miners;
c) you will receive an average monthly payout of U$2.000 (free of maintenance costs);

you can get U$3K sometimes, even U$4k or 5; after 8, 9 months (normally) you can have a great ROI... and better, the equipment is your, the system is yours... can't be better hum?

     

[kanazawa]

Now I'm running just 10 units of s7 (4.73T x 10);

When I start mining, ROI was little hard because 30 s1's dissipates lot of energy and I did a waterpipe system to cool (because air conditioning it's not enough, you have to use water, lot of water to "freeze" the place);

I resell my miners on ebay;

I had more than 20kwh now from PV and 1.5kwh from an air-x, but I use it to other things, like air conditioning and water pumping;

If you combine water with air conditioning, your miners will run below 25°C; geography is very important here, because I got sun everyday, from 6am to 8pm; I do the maintenance, I pay just U$5 for "infinite" water, and the cost of panels are little higher now than 6 years ago.

Battery cost is not a problem if you do their cycle well and do the "freezer" room; I also had a "fidelity plan" with my dealer, so I resell all units and buy new ones.

 

[kanazawa]

I didn't calculate the precise cost (totally ROI I mean) becaus there was some "problems" in my way, like, I burn one air conditioner then I was stopped for some personal problems for 1 entire month and other month to do the "freezing system"... w/o it it's impossible.

Maybe I'm losing money, but I'm winning BTC. It's fair/good to me.

[ALToids]

I didn't calculate the precise cost (totally ROI I mean) becaus there was some "problems" in my way, like, I burn one air conditioner then I was stopped for some personal problems for 1 entire month and other month to do the "freezing system"... w/o it it's impossible.

Maybe I'm losing money, but I'm winning BTC. It's fair/good to me.

Hehe, it looks like the "farmer" is able to kick the techie's butts when it comes to mining with his .02 KWH rate Hell, you can brew your own beer too lol

[greBit]

I didn't calculate the precise cost (totally ROI I mean) becaus there was some "problems" in my way, like, I burn one air conditioner then I was stopped for some personal problems for 1 entire month and other month to do the "freezing system"... w/o it it's impossible.

Maybe I'm losing money, but I'm winning BTC. It's fair/good to me.

Hehe, it looks like the "farmer" is able to kick the techie's butts when it comes to mining with his .02 KWH rate Hell, you can brew your own beer too lol

In certain countries government is providing electricity free of charge for agricultural farm use. Is that possible to use those supplied electricity for mining purposes which will benefit the miners. If that is possible it would surely have positive effect over the bitcoin value.

[mickiya]

I didn't calculate the precise cost (totally ROI I mean) becaus there was some "problems" in my way, like, I burn one air conditioner then I was stopped for some personal problems for 1 entire month and other month to do the "freezing system"... w/o it it's impossible.

Maybe I'm losing money, but I'm winning BTC. It's fair/good to me.

Hehe, it looks like the "farmer" is able to kick the techie's butts when it comes to mining with his .02 KWH rate Hell, you can brew your own beer too lol

In certain countries government is providing electricity free of charge for agricultural farm use. Is that possible to use those supplied electricity for mining purposes which will benefit the miners. If that is possible it would surely have positive effect over the bitcoin value.

Will there be a limit on how much electricity you can use for the cheap rate? If so, there is not much benefit as bitcoin mining uses a lot of electricity.