I would like to post the question on here to get input from the community as I have been doing a ton of research to get myself started.
On another note, I’ve been hearing that it is not a good time to buy ASIC miners due to inflated prices?
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Prices are coming down but still on the high end for where the market is. What are you looking to mine? If you want to get going right away, maybe spend a third to half of your budget now and then wait and see what happens.
I had my eyes on kadena, and had the flexibility to budget myself for 30k because some of those Kadena ASIC miners are priced on the high end, but after hearing so much regarding the prices, I took a step back and lowered the budget to feel it out.
I also had my eyes on mining ETH, but am hesitant due to the fact that they are trying to go into a different direction from proof of work to proof of stake.
All and all, I’m open minded. Still learning as I go…
Thanks for the reply.
You’re ahead of most by lowering your budget up front! KDA is tough right now but I think a KD Lite is your best option if you’re bullish on the project long term.
As far as what else to mine, chose what you’re most interested in. It makes it a lot more fun and easier to stomach downturns like we’re in now.
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If I am being hones with myself, I am most interested in Kadena and have hopes for its future regardless of current situation. Thank you for the recommendation! Its nice to get third party perspective instead of second guessing myself and overthinking.
I believe once I dip my toe in the water, I’m going to get a real sense of what I’m doing, and hopefully I will be in it for the long term, but I won’t know until I get my first miner… XD
The first step is always the hardest!
Compass Mining has a good sale going on right now for new and used ASIC miners. Sample: new S19J Pro 104 for $5750.
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First comment on here, so take it easy on me… I have 3 Bobcat 300 miners and looking to expand to other miners. I’m doing a little research and on asicminervalue.com they show the S19J Pro 104 is running at a loss of $0.15 daily. I’m confused on the logic of spending $5k on a miner that will run in the red and never have a ROI. Thanks for helping out!
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The hosting rate per kw is cheaper with compass which would make it profitable (0.08~). You just have to commit to a 3 year contract.
3 years in crypto is a LIFETIME BRO!! Compass needs to wake TF up and stop worrying about their bottom line in 2025 and start worrying about their clients TODAY!!
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with difficulty rising, 3 years is not a good deal.
It probably would be a good deal if you locked in at a low electricity rate. Electricity is likely not getting cheaper with time.
iPollo V1 mini ETH miner for 3200USD
I’d second that on the KD Lite, solid machine and kadena is the only algo making any money right now really, beside big S19 or L7, the boxes are good options as well. As far as the current profitability though, you’re not going to go back in time and sell what you mine at the market price today… You can check out my website, https://defi.equipment, if you’d like help visualizing, the miner comparison page has a sheet that breaks down profitability by coin creation and averaged profits over time. I update that regularly on my FB page as well. Feel free to reach out anytime with questions if you’d like
I’d wait a bit more for the L9 if you believe in Dogecoin.
KA3 is always a solid option for mining Kadena.
The K7 is a good option to not waste your entire budget on one miner. Nervos network is decent to mine.
The only downside on waiting for miners to continue to decrease in price is that there are always new, more powerful, more efficient miners coming out. If you wait 1 year since the release date to buy, you probably have 1 year of mining before manufacturers roll out a new miner that’ll decrease your earnings bc difficulty will rise soon after