I pay about 0.05 usd/kWh for power in Iceland. Small scale operation of 25kW, the price includes hosting right next to the micro-hydro plants (one on-grid, one off-grid).
If you go into medium scale (100-200kW, on-grid only) you can expect to pay more, probably closer to 0.08 usd/kWh with transmission and not including hosting.
If you go really big(>10 MW), you can see prices again in the range of 0.05 usd/kWh with transmission.
The low prices exist but they aren't common for smaller operations.
I find it strange that you pay 0,05 US for hydro power on Iceland. I pay 0,055 for hydro power on Iceland for a farm of more than 200kW and thats only because i have been with them since beginning 2014, so one of the first i believe. In my price hosting, vpn is part of the price. Every 3-6 month I put out some inq. to other hosting companies on Iceland, and non of them is able to match my present price.
Im willing to dig in to this, so send me a PM with your hosting company and I will let them make me a quote.
One thing I came across is the possiblility to make my own building for my farm, but living expenses, hardware and internet gear eats up the bennefits.