The electricity prices you have quoted are just crazy. The California rates are like 10x of what they have in Inner Mongolia or Russia. Even the Florida prices are like 5x. So I don't think that Bitcoin mining would be viable anywhere in the United States.
And yet people mine there.
And yet they have mined there for a long time, including people here on the forum.
So, that means two possible scenarios:
- as I said looking at some averages or Wikipedia data means nothing compared to the deals that can be made there on the spot for large consumers
- every single miner doing so is stupid and people who have never set foot in the US or have actually mined are right!
Which one do you think is true
On top of that, the mining rigs need to be imported from China. Does anyone know how much will be the import duty and the shipping charge?
Or from Malaysia, so you can avoid the new tax, if DMG and Riot are able to buy a hundred thousand miners, they probably have a plan, right?
Again it's not about the power rates, it's about how much you can get at those rates.
For example Salvador, we built a 90WM maximum capacity facility...good. But that's at most 25000 of the latest gear and that was a project started even before Bukele was president and it won't be completed tomorrow. Besides it was built for providing power to the country as they need that, how much will be left after first providing the citizens with the much-needed cheap electricity?
The Texas grid is not strong enough to meet this demand.
Grid expert, right?