Re: I have cheap electric, wondering if mining is now something that I can do profit

Quote from: serveria.com on Today at 08:24:47 PM

Quote from: Mikejacobs73 on August 01, 2023, 11:38:42 PM

So I can now get my electricity for $0.05 per KWh. This is a new opportunity that has landed in front of me and I have the capital to invest a decent chunk into this. I was wondering if it is currently profitable to be doing it from scratch whilst paying the price listed above.

I've done a lot of research throughout reddit and toyed with some of the calculators but thought I'd post with my actual situation to see what other people thought.

Thanks for the time and hopefully I haven't broken any rules posting this!

First of all, $0.05/kwh is not cheap. There are many locations where electricity price is below $0.01. Imagine you'll have to compete with these guys, who are also running hundreds or even thousands of miners. Next, your miners will depreciate and wear out and the halving is approaching so you need to plan accordingly.

Why don't you simply buy Bitcoin with all you have? Cool

If you are talking about the production of electricity, then at hydroelectric power plants the cost of producing 1 kilowatt can be 4 times cheaper, but you do not count delivery tariffs, taxes. Very large companies have a price of 3-4 cents per kilowatt, and a nuclear power plant also provides cheap energy, but it cannot be built quickly.