Wow that's pretty terrible! Might as well get the Antminer S1 at $2.64 per GH.
Cloudmining really is a scam operation at those rates!
Indeed, I was actually going to buy an Antminer S1 last night but when I figured up the monthly addition to the electric bill my first though was "Yeah Indiana State Police will think I'm growing drugs and get a warrant" because the power company tells me every month I'm already operating at TWICE the average in my neighborhood heh.