Re: Recovery program beginning in January for PB Mining customers.

Many of the cloudmining farms are located in China where electricity is cheap. Hashnest announced 18.11.2014 that the electricity price has been lowered to CNY 0.6/kWh which is ~0.005$/kWh.

Do you have a link to where Hashnest as talking about that?

It is almost at the bottom of their frontpage

Thanks. Something seems wrong with your numbers though. Google is telling me that 0.6CNY is 0.1USD, which is just an average price for electricity for a home miner or on the high side for a big farm.

Quote

GOOD NEWS: HASHNEST announces that the electricity fee will be lowered to CNY 0.6/KWH from Nov. 18th, 2014(UTC+8). In another words, the maintenance fee of UMISOO and ANTS2 will be lower to $0.00228/GHS/day, and ANTS3 will be lowered to $0.002/GHS/day. The current difficulty is 39,603,666,252, so the calculation of Fees/Earnings should be 45.3% if the Bitcoin exchange rate is at $400.

I checked my number and you're correct.
I had used JPY instead of CNY Sad