How I’m Making $44/day with Kadena (KDA) in a Bear Market!
Mining cryptocurrency during a bear market can be extremely grueling. With the miner prices fluctuating as a result of changing token prices, it can be difficult to know what’s a good deal. It can be even more difficult to make a profit when the mining profitability is so low.
One coin that has continued to remain profitable, despite the recent market conditions, has been Kadena (KDA). Kadena is a top 100 cryptocurrency that is seeking to create a scalable and secure multi-chain solution for crypto users. With its meteoric rise in 2021, KDA made it onto many watchlists as it rose from near obscurity to frontline news seemingly overnight. This significant change in coin price led to Kadena mining becoming the most profitable coin to mine — by a very high margin! For months, Kadena miners populated the top spots on every mining profit calculator, with some miners making over $200 per day!
Current Crypto Mining Conditions
Fast forward to now, with KDA down more than 90% from its all-time high. What has that meant for Kadena mining? Naturally, the daily profits from all KDA miners have decreased significantly — but that also means that the exorbitant prices charged for these machines have also come down. The coin has been stable around the $2 mark with almost $100M in daily trading volume. This is likely due to the fact that it is listed on Binance and KuCoin — two of the biggest cryptocurrency exchanges. Personally, I mine directly into KuCoin, which can be a little riskier but makes it easier to manage and take profits.
If you are looking to start mining, here are some helpful mining guides we have:
- How to Set Up an ASIC Miner — https://www.youtube.com/watch?v=8XNQ4lP7PIc
- Electricity Guide for Mining Crypto at Home — www.youtube.com/watch?v=eZi_yx_koXc
- What to Avoid When Starting Your Mining Journey — https://www.youtube.com/watch?v=i2HWbHIQaNk
What miners am I using to make $44 a day?
- KD6 ($12,000)
Now replaced by the KD Max and KD6 SE, my KD6 is currently making over 13 KDA per day (29.2TH/s @ 2630W for $12k).
2. KD-Lite ($6,000)
My quiet, relatively affordable KD-Lite is currently mining 7 KDA per day (16.2TH/s @ 1330W for $6k). Be cautious with this miner though, as mine has recently been giving me extensive problems.
3. 2 x KD Box Pros ($1,000 each)
My two KD Box Pros are currently mining around 2.3 KDA per day, or 1.2 KDA per box (2.6TH/s @ 230W for $1k each). These miners are practically silent and use very little electricity — which is why I love the Goldshell box miner series for mining cryptocurrency from your home.
4. KD Box ($500)
My basic KD Box is currently mining around 0.73 KDA per day (1.6TH/s @ 205W for $500)
Current Profitability of All My KDA Miners
All five of my KDA miners’ profits total around 23 KDA per day, which at a price of $1.90, is around $44 per day in mining profitability! Although these mining rigs were extremely overpriced and price gauging was a common occurrence, we’re now reaching price points where it’s starting to be interesting again. Previously we were starved for stock, and thus prices were hiked — but as demand decreases as profitability decreases, the stock is able to be built up again and prices inevitably come tumbling down.
All in, you could have a similar mining setup for about $20,000 at current miner prices. For that $20k investment, you will pull around $44 a day if $KDA remains in the $2 price range. Over 365 days, you’d be projected to make about $12,000. So it will take around 2 years to break even on your investment with these devices when factoring in your electricity costs as well. This projection is based on a stagnant KDA price; if prices go up, that breakeven time decreases. Keep in mind with these miners, you are also hold an asset that could be potentially sold in the future.
KDA Profitability Round Up & Recent News
It is very clear that the days of the 3-4 month ROI on miners are over. During the current market conditions, it’s important to hedge your risks and not make irrational decisions but rather to plan meticulously and find your perfect entry point in order to maximize your profitability moving forward.
The latest news is that a more powerful and efficient KDA miner is on the way. Bitmain just announced the release of the Antminer KA3, which will be launched within the next week.
Be sure to do your own research, and check back for more updates on our KDA miners!
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