Post
Topic
Board Bitcoin Discussion
Re: Best Profitable Places to mine Bitcoin right now
by
stompix
on 27/11/2018, 12:12:19 UTC
4. Canada: Canada takes the 3rd place,

Lol!

Now, you might not know it but it's pretty old news:
Venezuela Bans Imports of Cryptocurrency Mining Equipment: Report

Second, it doesn't matter how cheap the electricity is if you can't get miners or your grid is not able to cope with the load.
It's one thing to power 6 120w GPUs like the 1060ti and a totally different thing to plug in two s9j that draw more than 2700W.
Besides the country is known for power failures and that's a big no when you talk about expensive and ...not so relaiable equipment.

Also, you're taking into account consumer rates, and when setting a business numbers are totally different:
https://ec.europa.eu/eurostat/statistics-explained/index.php/Electricity_price_statistics#Electricity_prices_for_non-household_consumers

And internet connection is irrelevant, you can still mine at 4G connection speed Grin

U.S (Louisiana State): the State of Louisiana has the cheapest electricity (7.46 cents/kWh)[4].

Unfortunately, at 8 cents you're losing money right now.
Even with the newly launched s15 (that will be delivered in December), you're looking at 1500 days to ROI.
And again you've forgot about this:
US Tariff Ruling N297495 = 2.6% mandatory tariff on bitcoin mining hardware