Abundant coal, natural gas, cheap electricity, and a sparsely populated and huge areas of the countries of Central Asia, a perfect location for Bitcoin Mining.
Compared with the costs for thermal energy of about $ 0.06 per kilowatt-hour in China, the average electricity rates of 0.03 dollars per kilowatt-hour in some Central Asian countries like Kazakhstan and Uzbekistan, the Chinese Miner is always more attractive.
Similarly, countries such as Uzbekistan, which offer a more open policy of crypto mining and trading, Mining is always more to legalize, and even promote seem. Wu Zheng, one of the first Bitcoin-Miner who went to Overseas, has cast an eye on Kazakhstan, where thermal electricity is abundant and cheap available.
The cost for the Mining mainly consists of machinery costs, electricity tariffs, Rent for the mining sites, operation and maintenance – the cost of machinery and electricity, take up the largest part,
Wu Zheng said.
The costs for the Hardware are, in fact, fix taken. The largest Variable is the cost of electricity. In this sense, the search for cheaper electricity is the best way to increase profitability.
Take, for example, the latest Antminer S17 pro: With a power consumption of 0.06 $/kWh a S17 could achieve a daily profit of 5.41$; with a power consumption of 0.03 $/kWh, the same machine could produce 6,83 $ per day.
Wu said that his company uses the latest and most powerful Miner in China, but older models such as the S9, E10, and M3 in countries with cheaper power has shifted.
My Mining Farm (in Kazakhstan) has been working with Ebit-E10-machines, which provide a Hash Rate of 18T with a power consumption of 1800W,
In this case, an E10 generated is 0.45 $ per day at a price of 0.06 $/kWh; if the current drop rates of 0.03 $/kWh, it could earn is 1.75 $ per day, with a profit increase of 288 %. Compared with the above-mentioned S17 pro it is easy to recognize, as older miners with cheaper electricity from abroad is more profitable.
According to reports, there are areas in Kazakhstan, 47 Coal, coalfields, and coal mining regions. About 2% of Kazakhstan’s coal comes from opencast mining, which is cheap and efficient. Kazakhstan is also the eight largest coal reserves in the world, with proven reserves of about 200 billion tons, the Oil reserves of 5 billion tons, or about 3.2% of the total proven reserves of the world; the reserves of natural gas amount to about 2 trillion cubic meters, or 1.5% of the total world reserves. These reserves give the country a huge potential for the generation of electricity.
In Kazakhstan, the coal-fired power generation costs because of the abundant carbon source only 0.001 dollars per kilowatt-hour,
In addition, the private electricity generation in the country is allowed, and the electricity we use comes from private power plants.
While it offers higher yields, were miners such as Wu also exposed to great risks. For mountain people, in the Iran – where, allegedly, the electricity is much cheaper – it is difficult to bring miners into the country. But for Miner, the thinking about a relocation to Kazakhstan, the Problem has a weaker infrastructure. This means that you need to build your Mining farm from scratch, with immature plants in the heavy industry.
To find a reliable Partner that stable electricity supply is another Problem, with the Chinese Miner when Mining abroad are confronted with. However, to import neither the risk, Miner, yet the difficulty, to find mines, and stable electricity, in comparison to the risks posed by local politics.
In fact, we have been by the local government for our mining activities are not recognized,
Nevertheless, the Central Asian countries have shown some encouraging signs for the Bitcoin Mining. Last month, Kazakhstan announced plans to neighboring Uzbekistan to set up a national Mining Pool. Miners joining the Pool will benefit from lower electricity tariffs.