Quote from: Gahs on April 05, 2016, 09:39:00 AM

Quote from: xenog on February 25, 2014, 04:44:30 PM

I am building a Bitcoin mining data center in Venezuela, a country with very cheap electricity. I am planning on offering full hosting at first for the equivalent of 0.20 USD per KW/h to cover initial costs, then reducing the fee to 0.15 USD per KW/h, or even lower, including space, Internet, electricity, and cooling. No setup costs. You send the equipment, and we plug it in and set it hashing. I would like to gauge interest in such an arrangement.

Naturally there are some risks. As many of you already know, Venezuela is a country with a hybrid regime, terrible property rights, violent crime, civil unrest, very high inflation, censorship, and electricity brown-outs that are a bit more frequent than they should (1-2 times per month for a couple of hours).

Nonetheless, cheap electricity is what a miner needs, not necessarily a very stable supply. If electricity falters too often, I will install power generators since petrol is extremely cheap in Venezuela as well.

Would you put your miners in Venezuela if I were to offer such a service?

The cheap cost is alluring but this civil unrest you mentioned has got me thinking: I hope I don't get shot on my way to get a burger.

There's always risk involved for profit; in this case you COULD get shot while trying to get a bag o chips. I'd put my miners in Venezuela but seriously the risk is way lower than the reward. 0.2/kwh sucks for elec alone, but coupled with cooling it's an ok deal