Eskom has not confirmed a generally available R1.20/kWh electricity offer for Bitcoin miners. The figure is a reported benchmark in a proposed two-year flexible-load pilot that South Africa’s National Energy Regulator (NERSA) was consulting on as of 3 October 2026. Reported eligibility is narrow, and the benchmark alone does not reveal what a miner would pay after other electricity charges.
What is Eskom proposing?
The proposal is a 24-month pilot tariff intended to attract new, high-load customers that can shift or stop consumption when the power system needs it. That includes cryptocurrency-mining operations, but the proposal is not described as a miner-only tariff. NERSA’s account, quoted by TimesLive, says the pilot would use time-of-use and location-based price signals to encourage consumption when electricity is in surplus and discourage it during system constraints and peak demand.
That makes this a proposal under consultation, not a final approved tariff or proof that miners can sign up today. The reported R1.20/kWh figure is a benchmark for a particular customer category and region—not a single price guaranteed to every prospective participant.
Who could qualify for the reported R1.20/kWh benchmark?
TechCentral’s 2 October 2026 report gives the R1.20/kWh benchmark for customers in the highest-voltage category in the southern region. It says other transmission zones and voltage categories would be escalated in line with Megaflex, while customers supplied below 500V are excluded.
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Those distinctions matter: a mining site’s location and connection voltage could affect whether it is eligible and what energy rate applies. The reporting does not establish the complete eligibility rules or final price schedule, so the benchmark should not be applied to a particular site without those terms.
Is R1.20/kWh the total electricity bill?
Not necessarily. The reported benchmark is an energy price; the available coverage does not publish the full schedule of demand, capacity and network charges. Without those charges, it is not possible to calculate the full cost of participating or compare the pilot with another supply arrangement on an all-in basis.
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Before assessing a site, a miner would need to establish:
- the applicable energy rate for its voltage category, transmission zone, time and season;
- any demand, capacity, network or other fixed charges;
- which hours the site may operate and whether it must curtail or respond to load-control instructions; and
- connection and location requirements.
The proposal is based on Megaflex, with most weekday daytime hours that are standard-rated becoming off-peak, according to TechCentral. That description does not supply the complete charge schedule or settle the pilot’s final operating rules.
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When would miners be allowed to use power?
The proposed tariff is time-sensitive rather than a promise of cheap power around the clock. TechCentral describes a potential operating window of roughly 12 to 16 hours a day; MyBroadband’s analysis models 16 hours. These are reported proposal details and an analytical assumption, respectively—not confirmed final terms.
The intent is to reward flexible consumption when electricity is available in surplus and reduce it when the system is constrained or demand peaks. Whether participation would require automatic controls, advance notice or a particular level of curtailment is not established in the reviewed reporting.
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How does this differ from Eskom’s existing tariffs?
Eskom lists Megaflex among the tariffs used by large industrial and mining customers. Its 2025/26 Tariffs and Charges Booklet describes a standard tariff framework; it does not mean the proposed mining pilot has already been added to those tariffs.
The booklet says energy charges were unbundled from the former all-inclusive energy rate, with separate legacy c/kWh and generation-capacity charges in R/kVA. It also records time-of-use changes: the peak-to-off-peak ratio fell from 8:1 to 6:1, the evening peak grew from two hours to three, the morning peak fell from three hours to two, and a two-hour Sunday evening standard period was introduced. Those are details of Eskom’s 2025/26 tariff framework, not confirmed pilot terms.
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Eskom’s existing Standard Offer is also a different programme: it is described as a way for generators, traders or consumers with surplus energy to sell energy to Eskom. The proposed mining tariff concerns customers buying electricity as flexible loads.
Would the tariff make Bitcoin mining profitable?
A low energy benchmark can improve a miner’s economics, but it cannot establish profitability by itself. Mining revenue changes with Bitcoin’s price, hashprice and exchange rates; costs also depend on hardware price and efficiency, cooling, repairs, taxes and any fixed network or capacity charges. The missing full tariff schedule is particularly important for a high-load operation that runs for only part of the day.
MyBroadband uses a Bitmain Antminer S21 XP rated at 270 terahashes per second (TH/s) and estimates about 58.67 kWh of energy use over a 16-hour operating period. Its scenario depends on assumptions about the tariff, operating hours, Bitcoin price, equipment price and VAT treatment, and it flags uncertainty around VAT and fixed charges. Those calculations are not a guaranteed return or an independently verified forecast; changing any of the assumptions can alter the outcome.
For a useful site-specific estimate, a miner would need the final tariff and charge schedule, its actual electricity consumption and cooling load, hardware and maintenance costs, tax treatment, and a chosen set of mining-revenue assumptions. Comparing only the R1.20/kWh benchmark with a miner’s expected revenue would leave material costs out.
What is the consultation timetable?
TechCentral reported on 2 October 2026 that public comments were due by 4pm on 23 October, public hearings were planned for 3 November, and NERSA’s decision was due on 7 December. These are reported timetable dates, not confirmation that the consultation or decision has since concluded. The reporting available as of 3 October does not establish whether NERSA has granted final approval.
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