Mining PKT on Akash at Scale
When using systems like Akash, people will always utilize cheap providers if they can turn a profit. Assuming no fees, seamless reinvesting, and an hourly increase of 1%, you’d be looking at 5x your money in a week. This is what drives the base price of services upwards, and right now — more people are able to utilize cheap providers on Akash.
The profitability of PKT-mining on Akash
To test the profitability, I set up a range of different deployments with different hardware & price points. The statistics depend on when you look at it, as sometimes the PKT difficulty is higher or the AKT price is higher, or vice versa. Yesterday, I was able to see results at $0.022/PKT. In the table below, the AKT price was counted as $3.10 & the hardware is listed as virtual cores, GiB RAM, & GiB Disk.
+----------+-------------+-------------+--------+-------+
| Provider | Hardware | Monthly PKT | AKT/mo | $/PKT |
+----------+-------------+-------------+--------+-------+
| .x2qc | 1, 0.5, 0.5 | 202.8 | 2.169 | 0.033 |
| .f6a4 | 1, 1, 1 | 225.6 | 2.603 | 0.036 |
| .x2qc | 1, 1, 1 | 201.6 | 2.603 | 0.040 |
| .udk0 | 5x(1, 1, 1) | 1196.4 | 13.015 | 0.034 |
| .x2qc | 2, 2, 2 | 426 | 5.206 | 0.038 |
| .x2qc | 5, 1, 1 | 1045.2 | 9.544 | 0.028 |
| .x2qc | 5, 5, 5 | 1048.8 | 13.015 | 0.039 |
| .f6a4 | 10, 1, 1 | 2266.8 | 18.22 | 0.025 |
+----------+-------------+-------------+--------+-------+Looking at the table, we can see that we were able to get PKT at $0.025 each. Assuming from private sales at $0.03, that’s a profit margin of 20%! Furthermore, we can see that lowering the RAM & Disk to half of the automatically specified gives you a bigger profit margin — as you pay less for the deployment.
If you want to track your own cost per PKT after following this guide, just follow this formula:
(AKT/month * AKT price)/(PKT/month)The AKT price can be seen here & the AKT/month will be visible after you deploy a miner.
You can then get your mining income here and extrapolate to get your PKT/month value, eg taking the last 6 hours' worth of income & multiplying it with 4 to make it 24 hours & multiplying that with 30 to make it for a month.
Deploying your own miner(s)
- Download the Akashlytics Deployment Tool.
2. Download a PKT wallet like this one. You’ll get an address like this:
3. Import your Keplr wallet’s seed phrase to Akashlytics. Make sure it has at least 5 AKT + some.
(This step onwards is on video here)
4. Create a certificate & pay fees.
5. Create a new deployment.
6. Continue through the prerequisites.
7. Proceed with an empty template.
8. Paste the contents of this file.
9. Enter your wallet address after WALLET_ADDR=
10. Enter your preferred amount of virtual cores after “units: ”, RAM after the first “size: ”, and Disk space after the second “size: “.
11. Enter how big of a cluster that you want after “count: “. Every count is one deployment.
12. Press ‘Create Deployment’ and await bids.
13. Pick one of the options and press ‘Accept Bid’.
