2 cents is what you're competing against -- very large mining farms located near cheap, under-utilized hydro plants. Many in China, due to the existence of many such plants. [0] Those are the mining operations that can remain (marginally) profitable when the small home miners are forced out because gross revenue is less than power costs.
[0] http://www.afr.com/technology/lisa-kangding-story-20160706-g...