Household electricity in Latvia costs 28.0 cents per kilowatt-hour. That is rank 11 of 27 in Europe. What it means for a mining machine is below.
At 28.0 cents not one of the 85 machines pays off on a domestic meter. For the best of them to reach profit the tariff would have to sit below 14.9 cents. No household tariff in Latvia does. Which is why the usual route is a data centre: at around 8 cents in hosting, 57 machines pay off, and that is exactly where professional mining sits.
| Model | TH/s | J/TH | Net/day | Break-even |
|---|---|---|---|---|
| Bitaxe Gamma 601 | 1.2 | 15.0 | -0.08 € | 9.4 ct |
| Bitaxe GT 800 | 2.4 | 14.6 | -0.15 € | 9.7 ct |
| NerdQaxe++ | 4.8 | 15.6 | -0.34 € | 9.0 ct |
| Bitaxe Supra Hex | 4.2 | 21.4 | -0.46 € | 6.6 ct |
| Avalon Nano 3S | 6.0 | 23.3 | -0.74 € | 6.1 ct |
| NerdOCTAxe | 9.6 | 16.7 | -0.75 € | 8.5 ct |
| Avalon Nano 3 | 4.0 | 35.0 | -0.81 € | 4.0 ct |
| Avalon Mini 3 | 38 | 21.3 | -4.10 € | 6.6 ct |
This figure is the pure electricity input needed to earn one whole bitcoin through the network, calculated with the most efficient machine in the comparison and the tariff above. Hardware, cooling, staff and downtime are not in it. If it sits above the bitcoin price, mining costs more than the result is worth.
Within Europe more than forty cents separate the cheapest household tariff from the dearest. That decides profit and loss far more sharply than any choice of machine. The neighbours by price:
Buy machines, grow hashpower, push power costs down. The same arithmetic as here, only without real money.
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