RE:HIVE: Let's build a model...I believe the cost of electricity is already included in the monthly cost of the master service agreement with HIVE. Also, ethereum is not even close to being the most profitable coin to mine, only that it has the status of being the most popular alt coin. The correct optimal strategy would be to mine the most profitable coin at any given time and simple convert it into your preferred coin (i.e. ethereum).
Also, since early Jan 2018 there has been a global industry wide shortage of GPU's with retailers and resellers out of stock on all mineable models everywhere. Only a trickle of supply comes in periodically and even though limits of max quantity 1 or 2 are imposed, the online inventory sells out in literally MINUTES for the past several weeks. Prices on GPUs on all models have risen by 15% to 20% just even compared to Dec 2017! Even outdated technology such as R570/R580 have essentially doubled in price from summer 2016. HIVE could liquidate all of their inventory today and make substantial profits on the hardware alone!