Post
Topic
Board Mining
Re: Mining will always be barely profitable
by
Cluster2k
on 11/07/2011, 09:04:12 UTC
I'm getting beaten with both ends of a spiky stick here.

I'm in Australia and pay 0.25c/kWh.  That's nearly 27 US cents.  Bitcoins pay US$15 at the moment but that's less than AU$13 when I bring it home (weak US dollar and conversion costs).  I've cut down mining and just have one PC  eating 4.75kWh/day making 0.25 max BTC per day.  $3.25 income on $1.19 costs.  Take out income tax and it's a very exciting profit of around a buck fifty a day.  Woohoo.

And we have a carbon tax coming in soon, which will boost coal and gas fired power costs nicely.  No nuclear power here.