What is that 49 cents or 4.9 cents? if it's the latter then you have got a very decent power rate, if it's the former, no luck.

I think the only question that matters is how much do miners in China pay per Kwh, I honestly can't find any rationalism in mining bitcoin if your rate isn't close to those in China, one might get away with a bit of difference but if it's more than double, they should just forget about mining altogether.

We know the average price in China is anywhere between 1-5 cents depending on the season, to be on the safe side, you should work with 3-4 cents, if your power rate is around that or slightly higher (maybe up to 6-7c) you have a good chance of making a profit in the long run, if your power rate is 10c or higher, you will need a lot of luck to be profitable and once you redo the math you will figure out that in most cases, you would have made more profit by simply buying the coin directly.