Have you every bought co-location space in your life to store your own servers? They charge you per-circuit and not for the power you use. There is at least one state in the US that has the lowest power costs out of all the other states that would be a good place for setting up cloud mining sites. There was a story recently on YouTube of a guy who setup his own mining in this state; which they wouldn't name; in a co-location, he was making 8 million a week in Bitcoin mining and was using 1mw of power. (Yes..Mega Watt)
Have you?
They charge you for:
1. Amount of rack space
2. Data (fixed or 95th percentile)
3. Power (per Amp)
Yes.
#2. 90 ~ 95 percentile
#3. Is a flat rate per circuit, it's not if only only use 3Amp of your 20Amp 220v circuit you are billed for that. However if you shop around you can get the circuit cheaper at one colo's.