What do you think about this?
Especially as regards the European market, with electricity costs between $ 0.10-0.30/kwh
strictly speaking on power being the only variable I wouldn't even suggest to "mine-for-profit" basis with power rates higher than $0.10 ( and you are unable to get write offs or reductions. )
Sorry, but you know, in how many countries in the world the power rates is cheaper than $0.10, right?
In Europe I know none! This means, that you throw away in minimum the whole European market for "
mine-for-profit" or "
long term mining as an investment" customers!
The main inputs of mining are equipment cost and electricity cost, decent mining setups require pretty light amount of man hours to maintain. So like other electricity sensitive activities areas with the cheapest power will have a distinct advantage in terms of ROI rates. Unless Europe develops more efficient hardware and then restricts export of said hardware it's going to be at a disadvantage in these activities given current electricity costs.