Does Washington State have hydroelectric power for bitcoin miners?

The promise of cheap, hydroelectric power for Bitcoin miners in Washington state has started to fade. A 29% rate hike for hydroelectric power in Chelan County, created specifically for cryptocurrency miners, went into effect on June 1. The miners used to pay a lower, high-density load rate for their electricity.

Is Washington a good destination for bitcoin miners?

Washington has been quick to capitalize on its attractiveness as a destination for bitcoin miners and raised electricity rates for bitcoin miners at the start of 2017. Those costs, however, pale in comparison to the costs in Iceland, where Genesis Mining – a bitcoin mining outfit – has set up shop.

Will a new energy tariff affect bitcoin miners in Washington?

This time, the state of Washington announced a significant price increase that could make many miners consider moving to another state or even country. On June 01, Chelan County, one of the 39 counties in Washington, announced the implementation of a new energy tariff for Bitcoin miners that will increase the previous rates by 29%.

Which states are cheapest for bitcoin mining?

The report ranks the five best and worst states for mining, based on costs. With an average cost of $3,224 per bitcoin, Louisiana is the cheapest state for bitcoin mining. Idaho, Washington, and Tennessee are next three cheapest states, and Arkansas – which boasts average costs of $3,505 per bitcoin – rounds out the top five.