I’ve got a little over $5k to invest in mining, and I love the low power consumption aspect of the jasminer.
Is there anything similar to that miner that will mine a useful coin?
Now is a tricky time in ETHash or ETCHash miners.
If you can afford a Jasminer, they are great for earning vs power cost today. Next week could be quite different.
I would have said go look at a Kadena miners as an option, but Bitmain are about to release a massive new ASIC for that which will drastically change the profitability. So I’d wait on KDA as well. Unless your power is free.
I’m not getting any more hardware until all the Etherium miners have worked out where they will be and we can see what is best.
Although, if I was to get something today in that proce bracket it would be the X4-1U
So help me to understand why everyone gets so sad when a new machine comes out, please. It’s doom and gloom for profitability. Isn’t your machine just as profitable, still? It’s not as though you owned 90% of the hash rate, so as a small operation, why does it matter when new stuff comes out?
@shredz explainded it well to you over on the KA3 thread.
I got a KD-Box Pro on July 1, 2022. I stopped 24/7 running when I changed my power company as I’m waiting for solar. I don’t mine 8 hours a day when power is at peak rates.
I write up every payment from the pool so I can say the average KDA earned for July (3-31) is 0.903 KDA/Day
August had a payment suspension issue but I think I evened that out in my calcs so average is 0.826 KDA/Day
September month to date is 0.613 KDA/Day.
That’s a bad trend given the timers on the machine make the uptime consistent.
The rewards go down as more hash rate is added. The current fastset KDA miner listed at asicminervalue is the KD Max at 40.2 TH/s. If a few warehouses of miner farms all go get a new row or two of 136TH/s units - the total hash rate goes very high. The rewards you can get on something like a KD Box Pro will drop further. Won’t be long before it won’t cover it’s power costs. At the reduced hours I run , the KD has paid (on the day) $160 NZD and cost $52 NZD to run since turning it on.
An army of KA3’s arriving will drop those earnings by a bunch. It cost me $2795 NZD to buy, so it still owes me $2687 NZD. It may never cover it’s own purchase price if the rewards go too low. The best way to combat that is to go get a KA3 as their Hash per Watt is amazing. But I don’t have $27K USD lying about.
I say this to be helpful so please don’t read anything else into it. But you really need to self-educate before investing in mining rigs. New ASIC rigs continue to roll out at what seems like an ever faster pace. Each new model typically increases hashrate and/or efficiency. Occasionally, a manufacturer such as Bitmain will introduce a new model that leapfrog’s existing rigs and renders those now obsolete rigs essentially unprofitable (unless you have access to very cheap/free electricity). It’s become a technological arms race.
The Antminer L7 did this several months ago to all of the various Goldshell LT models. I have a Goldshell LT5 Pro sitting on a shelf for this very reason. Or what the upcoming Antminer KA3 (and its future variants) will do to all existing Goldshell KD model rigs and iBeLink Kadena algo rigs.
What happens is that new rigs such as the KA3 will introduce a whole lot more hashrate into the global Kadena PoW mining grid. Higher hashrate = higher # of coins mined per unit time, if left unchecked. However, all PoW algos will alter mining difficulty to slow down the pace at which new coins are minted (or lower difficulty should global hashrate drop such as last summer when China outlawed crypto mining). Each algo is different as to the mechanics, but let’s keep this high level.
As difficulty goes up, # of coins mined per day goes down - and can do so in dramatic fashion. Ask anyone who mines Kadena about this phenomenon. So profit drops materially on the latest and greatest rigs, i.e. the rigs that miners initially pay a big premium to acquire. For example, when I ordered my Antminer L7 it was earning ~$150/day after power costs. By the time I took delivery this past March, profit had been dropping quickly to where it’s earning ~$24/day, or $18/day after I pay the hosting center for power.
In the above scenario, “older” rigs become unprofitable to run as the yield/day < electricity cost/day. To offset the impact, a coin’s price would need to rise faster than the increase in difficulty, which is hard to foresee in a bear market. And by “older”, I’d note that my LT5 Pro is 14 months old and my KD5’s are a year old.
With the Ethash and Etchash miners, the question that you should be asking is that once ETH moves to PoS, which is close to happening, then where is all that global hashrate going to go? Probably to ETC and other Ethash and Etchash algo coins, no? Once the ETH PoW to PoS migration occurs, global hashrate will then start dropping as miners shut down rigs that can’t cover electricy costs until some sort of near-term equilibrium is reached.
I hope the above helps.