How to obtain cheap electricity?
⠀
A lot of miners would like to know how to answer the question. It is not a secret that for cryptocurrency mining many resources are required to produce energy. Thats why electricity bills may rocket into the sky.
⠀
If you want to save money, use renewable energy. For example, the wind energy or the energy from the soil.
⠀
Although, one of the most popular types is solar. As a rule, people install solar panels on the roofs.
According to researchers, 6 panels with the capacity of 1.5 kilowatt produce 9 kilowatts of electricity. By the way, mining equipment consumes about 1000-5000 watts or 1-5 kilowatts. So, solar electricity would be enough to power equipment.
⠀
Thats why today mining companies use this type of energy. One of them is California-based Plouton Mining. The company is planning to build North America's largest solar powered Bitcoin mining farm. Its solar panels will generate 10-13 megawatts of electricity daily.
⠀
If you want to save, there is another option. You could lease a hardware in a cloud mining service. Normally these firms have profitable tariffs for electricity. For example, ECOS, where the minimal contract price is $20.