I’ve had quite the experience with my antminer KS3 9.4T! Woohoo!
Back in Nov. '23 I sold ~260k Doge to buy a KS3 and it was raking in ~2.5k Doge/day on unmineable (which was then cut in half like a month later!). I knew the KAS reward reductions were aggressive but not like THAT aggressive. So I was debating selling it at a loss, but decided to hold on to it in case KAS mooned. I thought “Well, if/when KAS hits $1, then I can just sell my KAS and buy back Doge with it.”
So a little while later after I made about half my Doge back, I switched to mining KAS, but this thing has pretty much bottomed out, pulling in a measly 60-something KAS/day. I can’t mine enough KAS to cover the electric bill w/ my $0.08/kWh electric. The price is pretty stagnant as well.
Any other KAS miners in a similar situation? What are you gonna do?
I’m thinking I’ll just shut 'er down until the price hits like 30-50 cents. Only thing is, by then it’d probably be raking in only like 40 or 50 KAS/day or something. Yikes! So if it does moon-ish maybe sell the miner at that point. Orrr I could try selling it at a HUGE loss now for something like $2-3k and buy back some Doge w/ that. I dunno. It just really sucks, I had high hopes for it and thought I’d get the ROI fairly close at least. And I’m stubborn and just don’t want to face the music you know?
Not a kaspa miner, but this is pretty significant to have miners shut down so quickly. If you’re shutting down at 8c, I know you’re not running the most efficient miner, but we know both ice river and Bitmain have new batches coming at really cheap prices, I think they will be forced to produce a more efficient model soon or the network hashrate could come down significantly because no one will be able to afford to mine with the reward cuts. It’s not industrial like btc mining where people are mining at under 5c.
Anyway OP sorry I don’t have anything useful except the resale value wouldn’t be much and the longer you hold it, the less it will be worth (at least in the short term)
Im big into kaspa mining along with many other coins with the farms i have my miners at,I keep my miners online hashing until i see a negative -$3+/Day. Stack the coin and reap in the benefits for the tax write offs and etc
Hey man thanks for the reply! That’s cool, so you’re willing to dip into a bit of out-of-pocket costs in case it goes back up later on? What site do you use to check the price/day?
I only have one KS3 in my basement. I’ve been selling off some KAS once a month to pay our electric bill, while stacking the rest. Looks like I may have to put an end to that pretty soon tho. It’s a shame, I thought this day would come like a good year or so out at least.
Thanks for the input! Yeah I saw RPM’s video about his KS5 (which is 12T) and I think it’s also at about break-even status. Who knows, if the price does eventually moon then hardware prices will also moon.
It’s just hard to let go of it for $2 or $3k when it was $19k!! Yikes. But maybe $2-3k is generous considering the rewards will continue to plummet… maybe around this time next year these are only worth like $200. lol.
I think you’d be super lucky to get $2k for it considering 12T miners are going for $1900 brand new, yeah it’s brutal having machines depreciate so quickly but that’s mining (unfortunately!)
Yeahh you never know what people on Ebay will spend… One just sold in late Aug for ~$3.3k. Who knows. I don’t think I can give it up for $1,900 though even. I’ll just hold onto it forever until it turns into dust.
If you get 2-3 for it I will be super impressed. You would have to find the perfect uninformed first time miner. Kaspa halves so aggressively that if your going to get even close to that back for it you would want to sell it soon. I’m sorry to hear that you are taking such a hit. I am also in the same situation with two of the Iceriver KS3M’s, I paid 8k each for them around 6 months ago, and now they are paper weights that I will never come even close to getting any ROI on.
Also that’s unfortunate, Red Panda Mining is a shill youtuber that shits on any other POW coin other than Kaspa. I try to support the sites I feel promote positive and also transparent content (Vosk), but RPM is someone that I think is a sellout and should be ashamed to be a POW youtuber. I unfollowed him after his random ass twitter post shitting on Kadena. Anyway cheers man, wishing you the best outcome brotha!
I will throw in here that there is a good possibility that we see a pretty volatile pump on Kaspa in the near future. I mine it I have been keeping a pretty close eye on its mannerisms and after these Bitcoin dumps Kaspa has been aggressively rebounding. I have no clue what we might see a pump to but there’s a good chance we see it break through its ceiling soon. Especially if we see Bitcoin break new ATH’s so hopefully you’ll get some ROI if that scenario happens.
Hey thanks for the reply. True! The stars would have to align to find a buyer for sure. Plus I’m just not that enthused to sell it for scraps when I put sooo much into it. I dunno if that makes sense but I’d rather still have the miner and $0 than not have the miner and have a measly $1,000 or $1,900. I listed it on Ebay months ago and someone bought it for around $16k but Ebay wanted to hold the funds for 90 DAYS I was like helll no! So I had to cancel it. I’m not gonna let some dude mine with it for 90 days and then be like “yeah it’s broken, I want a refund” or claim it got lost in the mail or something. Ugh.
Dang man, sorry to hear you’re in the same boat! I have no probs w/ RPM but I hear you. Was that back when he shit on Kadena and then it pumped a ton like a week later? Lol.
Never say never! Maybe we’ll get a chunk of change back for the paperweights after the price goes crazy. Agreed, the price hasn’t really broken out with a huge ATH like almost all other major-ish coins have. Fingers crossed my guy!
So, all that said, what are you choosing to do w/ your KS3M’s? Unplug them for now and wait for the price to go up a bunch, then sell them? Or are you gonna mine more w/ them if/when that happens?
Bitmain are now selling their October batch for $2000 which is really tempting. However it would also mean they are at the end of the road and getting ready to release a new miner I would imagine. The network is more mature now, with an extra 200 PH coming online after the August batch, I imagine you would get an extra 20% difficulty in November.
I think rewards would look like this assuming 200PH comes online every month and factoring in the reward reduction
That would return $1400 before electricity, so I guess that leaves room for speculation. And some miners would be forced to shut off as well, which is why I think they have to produce a more efficient model or the network will drop
It’s a shame, I thought this day would come like a good year or so out at least.