Accordingly, capex will have a longer profitable time horizon, leading to the above equation being even more dominated by opex -- which is in turn energy cost.
Which in turn is capex, e.g. solar panels run during the daytime to lower average cost per KWH.
Solar panels are as low as $0.02 per KWH now and costs are dropping 20% for every doubling of production per Swansons Law.
Also you seem to not appreciate that the payback duration on the mining hardware is dominated by the hardware costs, not the electricity costs, especially for Ethash.
Thus @realr0ach doesnt really have any holistic point. You seem to liter argumentation with irrelevant details because ostensibly you think being correct on every irrelevant detail is meaningful. That is the myopic mindset of a nuts & bolts, shirt-pocket-calculator engineer, but not the mindset for greatness and leadership. I prefer to attempt to
extract the relevant from the irrelevant.