Best tariff to switch to for high energy usage

AceCobra1

Hi all,

I was just wondering what your thoughts are. At the moment, I am with scottish hydro on thier standard tariff. Basically, I have my computer on all day mining these virtual currencies - such as bitcoin, I am sure you have all heard of it. It is consuming 2kW of electricity and together with my other equipment such as TV, fridge etc, I am guessing I would be pumping out around 2.7 to 3kw electricity an hour. I am planning to increase my computing power to aroud 4kw which will make me use around 5KwH energy. When I check out comparison websites such as uswitch, it asks me for this:

I use ____ kwH in the day every year ....

Do I basically put in 3 x 24 = 72 KwH since that is what I use a day? I take it it isn't asking what I use hourly right?

AceCobra1

Are there any good tariffs which can give me cash rebates or something as I calculated my existing tariff which when I checked online says it is 12.49pence a kwh...

so 3 x 0.1249 =0.3747 x 24 hours = £8.9928 a day x 30 days = £270 a month on electricity - so if I can get a cash rebate or some sort, I'd be 'coins in' ;-)

I_have_spoken

I was just wondering what your thoughts are.

TBH, give it up. The computational difficulty in mining is sky-rocketing so unless you are using dedicated h/w powered by geothermal energy in Iceland, you'll spend way more than you'll get back.

AceCobra1

Thanks for the link buddy. I am not mining bitcoins directly actually. I have been mining dogecoins and I was one of the very lucky few who manage to mine about 1 million coins when the difficulty was very low - 39 to be exact. That was 10 days ago. Now the difficulty and value of doges are so low it isn't worth mining. I mined and sold almost all my doges for £1500 or so on ebay which has paid for all the computer equipment I have invested in and I have some protoshares as well which I have been making money off when I convert that to BTC which I then get some QRK and sell off.

Anyway, I am planning to expand this venture and hoping to get some advice on cheapest electricity tariff. I have looked at the first utility (which someone posted) and it says that the cheapest tariff I can goto is £257 a month. Is that right ?

Andy_WSM

AceCobra1 wrote: »

Anyway, I am planning to expand this venture and hoping to get some advice on cheapest electricity tariff. I have looked at the first utility (which someone posted) and it says that the cheapest tariff I can goto is £257 a month. Is that right ?

Very possibly. In your case you should be looking for the lowest unit price + any discounts on offer.

The comparison sites are geared towards joe average, not a commercial consumer in a domestic setting. You are however working out your consumption correctly, so plug the numbers in and look for the best deal.

I used to run 6 Quad Core SETI computers so know your pain, but in my case it was for no personal gain!

At least you don't need central heating

AceCobra1

Thanks andy - so basically, am I correct in saying, when I it asks me for a QUARTERLY electricity in KwH = 3 months

I do the following sum:

3KwH x 24 hours x 91.25 days ?

Thanks

AceCobra1

Andy_WSM wrote: »

At least you don't need central heating

Funny you said that - I say bring it on winter! :money::money: