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I am looking to buy a Bitcoin miner. I am from india. So I want to ask , will it be profitable to buy a bitcoin miner set and start a mining business in India ?
Is Bitcoin mining profitable in india?
Answers
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That all depends on your local electricity costs, including cooling costs. It may also be determined by the rates offered at the exchanges you have access to.
I don't know of any India-specific mining profitability calculators, but here's one that calculates based on US dollars. You could probably convert your costs to dollars and come up with a reasonable answer.
Warning: be careful with calculators: I've come across at least one that does not take the halvening into account. It simply keeps using 25BTC per block. I haven't tried the one mentioned here, so this is just a general warning. – Jannes – 2016-06-10T09:16:06.120
I think , you are absolutely right. Because , the cost of electricity is really expensive in india. And a individual miner can't make much profit using high rate electricity. – letyouearn – 2016-06-10T10:50:02.297