Since 2023, interest in cryptocurrency mining, a comparatively secure and alluring financial avenue, has increased dramatically. The growth of Bitcoin Ordinals, which has significantly increased mining revenues, has been the driving force behind this. In the meanwhile, the market’s focus has shifted to the PoW category due to the rise of new ventures like Dynex and Kaspa.
Because of the PoW method, miners must solve challenging mathematical puzzles in order to compete for the privilege of validating transactions and earning rewards. The PoW sector’s market cap rises as a result of the ongoing mining activity, which guarantees a consistent flow of cryptocurrency into the market. PoW currencies have been able to hold onto their dominance in the cryptocurrency market by relying on this steady output.
Ranking second in daily output, Kaspa records a new milestone
With a block duration of one second and a 155.56 KAS block reward at the moment, Kaspa produces roughly 13.4404 million KAS every day. Kaspa’s daily output is valued at $1.7472 million, more than the combined daily output of Ethereum Classic and Dogecoin, at the current price of $0.13 per KAS.
When it comes to cryptocurrency mining, miners are drawn to projects that have a higher daily production since they are more likely to be profitable and well-known by the market. According to information from some website, in the case of KAS mining, an ICERIVER KS3 miner with a hashrate of 2 TH/s would produce a net daily profit of $202.8 once the expense of power ($0.05 per kWh) is subtracted. This amount is eight times what one would make under identical circumstances using the most productive Bitcoin mining rig on the market, the WhatsMiner M63S.
The Growth Potential of KAS
With no pre-mine or pre-sale, Kaspa‘s economic model is comparable to Bitcoin’s in that all tokens can only be gained by mining. In contrast to Bitcoin, which halved its supply every four years, Kaspa has monthly supply reductions. The halving of Bitcoin is intended to regulate the rate of issuance and lower inflation. As to the official data, the maximum supply of KAS tokens is 28.7 billion, and this amount is half annually. Additionally, there is a consistent monthly drop of (1/2)^(1/12). This indicates that the complete release of the basic circulating supply is scheduled for April 2037.
Kaspa’s price has increased by 1,591.3% over the last year, outpacing the gains of over 90% of other cryptocurrencies, including well-known ones like Ethereum and Bitcoin.
The Power of KAS Miners
Miners are essential to the upkeep of a robust, safe blockchain network. They serve as the cryptocurrency market’s gauge as well. The interest of miners in a project is reflected in the positive correlation between hashrate growth and coin pricing. Leading ASIC miner manufacturers, such ICERIVER and BITMAIN, have released numerous sophisticated versions this year specifically for KAS mining, which is thousands of times more effective than GPU mining. The ASIC age has begun as a result of this advancement, which has phased out the KAS miners who were dependent on GPU mining machines.
Kaspa‘s network hashrate has increased dramatically by more than a hundredfold since 2023 began, from 391 TH/s to 67 PH/s. Specifically, the KAS hashrate increased exponentially in August and October, suggesting that KAS miners are increasingly using ASIC mining equipment. The interest of miners in Kaspa is increasing over time.