Kaspa mining has become very popular over the last year, and the most profitable mining rigs were earning hundreds of dollars per day per ASIC miner, which compared to Bitcoin miners, which were only earning maybe $10 per day before you paid the electricity bill. I have spent a lot of time and money mining the Kaspa cryptocurrency over the last year, and here’s how that passive income endeavor went…
Hey, I’m Vosk, I have been building my own mining farm over the last several years, and very seriously over the last year. I also operate the VoskCoin YouTube channel where we talked about GPU mining Kaspa in 2022!
ASIC mining is much more profitable than GPU mining especially if you aren’t sitting on a bunch of graphics cards from the previous mining goldrush. I was waiting patiently for Kaspa KAS ASIC miners to expand my Kaspa mining front heavily. Finally, IceRiver released the KS0 a small and profitable mini miner. I got my KS0 in July of 2023, and it was earning $25 a day and only cost me about $5 per MONTH to operate — very profitable and very efficient mining. Within one week (the first week of August), the IceRiver KS0 mining profitability decreased to $21 per day.
Now you may already be getting FOMO and want to buy one of these miners, right? Kaspa is putting out over $1M in newly mined coins per day. It’s the 2nd most profitable coin to mine and has been for a few months. When Kaspa hit a new all-time high in USD, it was emitting nearly $2M in new KAS coins per day. Well if I cannot stop you from buying a miner, please buy from ASIC Marketplace. We’ve gotten most of our Kaspa ASIC miners from them, and quickly, which leads to much higher mining returns! Oh, and use code VOSKCOIN to save some coin! I would advise you to read this whole post and subscribe to the VoskCoin blog before sinking any Kaspa miner orders though!
So… remember when I was saying I was mining over $20 a day and barely spending anything on my electricity bill? That was when the network hashrate for Kaspa was only 1 ph/s. It is now 138x more difficult to mine the same amount of KAS coins. Oh and the number of coins mined per day, in Kaspa, decreases monthly as well…
So now I am thinking it’s time to up the ante, instead of buying a bunch of these little KS0 miners, I wanted a bigger one, like the IceRiver KS1, which is essentially 10 KS0 miners based off hashrate and power consumption.
My IceRiver KS1 was supposed to earn $100 per day when I got the shipping notification, but by the time I received it a week later, I only was able to realize $78 of daily mining profitability. Keep in mind this miner commanded a price over $6,000 for months, including at the time of my acquisition, and it was the biggest Kaspa miner you could get at the time because IceRiver gradually rolled out the KS0, the KS1, the KS2, and so on in their kheavyhash miner line up.
In September of 2023, I posted a video update on how the KS0 and KS1 used to be earning $125 per day, and now they are earning much less, but how much less, and why? Kaspa pumps a few months later which really changed the mining returns and dynamic. As far as I know, everyone who bought the KS0, KS1, and KS2 IceRiver ASIC miners early more than made their money back BUT profits started dropping dramatically!
One to two months later, the KS0 and KS1 were mining about 100 and 1,000 KAS respectively, which at the time equated to $3.40 and $34 daily.
Now everyone is getting Kaspa mining fever, and KAS ASIC miners were flying off the shelves in Q4 2023. VoskCoin was able to procure the IceRiver KS3M and Bitmain Antminer KS3 and then later an IceRiver KS0 Pro, significantly expanding our Kaspa mining farm.
So by the end of 2023, I was mining with the IceRiver KS0, KS0 Pro, KS1, KS2, KS3M, and the Bitmain Antminer KS3. I stuck most of my Kaspa miners into what I call the “Kaspa Corner” on the Kaspa mining shelf. The Antminer KS3, which quickly became my most profitable mining rig and favorite Kaspa miner, is in the RV garage at VoskCoin HQ. I was blown away by the mining profits of the Bitmain Antminer KS3; it was earning $244 when I first plugged it in, but spoiler, now it’s making less than half of that!
I have been running my IceRiver KS2 in my garage along with a MicroBT Whatsminer M30s to keep the garage on my house warm in the winter. Some people have complained about the later IceRiver miner batches having issues and performing worse, and in my experience, I found that to be true. My IceRiver KS2 is definitely my worst IceRiver ASIC miner. The performance is lower and I have had more issues with it like rejected shares, inability to access the miner web dashboard, and it simply mines less Kaspa than it should be mining.
At the time of writing this article, here is the daily mining profitability of the IceRiver KS1 vs the IceRiver KS2, which, by the way, the KS2 is supposed to be double the mining power of the KS1. The hashrate is 2 th/s vs the KS1’s 1 th/s. You’ll quickly notice my recent generation KS2 is only 60% better (and this is pretty average performance, 50–80% higher mining profitability) than my IceRiver KS1.
When I really look back on this Kaspa mining journey, the Bitmain Antminer KS3 shines as a superior machine and PSU modularity overlaps with my other Bitcoin miners. The KS3 uses the same power supply as the Bitmain Antminer S19, and to be honest, I am not the biggest fan of Bitmain’s business practices, so don’t think this is some shill for Antminers. It’s a practical and real-world performance review by a mining farm operator. My Antminer KS3 has been more profitable and reliable than the IceRiver ASIC miners, but it came at a premium price. The price per hashrate was essentially double of the IceRiver KS3M when I ordered mine. The Antminer KS3 has the above benefits and higher density, as well as better electrical efficiency, but at what price premium is that really worth from a practical mining farm operator looking to maximize his return on investment? That’s for you to decide…
Looking back over the last year of Kaspa ASIC mining, it has been a profitable endeavor, and the old rule of thumb in ASIC mining is that first batch ASIC miner releases almost always breakeven or better continues to hold true. With Kaspa emissions continuing to decrease and an effective halving of Kaspa annually occurring with the monthly KAS decrease in mined coins, I do feel that it is a time to be more conservative on the Kaspa mining front, but as always…nothing ventured, nothing gained!
I’ll continue to review new Kaspa ASIC miner model releases, and I plan to add a couple more Kaspa miners over the next year, but with KAS miners rapidly developing, and increasing competition from more manufacturers like Goldshell now producing KAS miners, I will definitely be slowing down and hoping for a parabolic bull run to make Kaspa mining rigs continue to be some of the most profitable miners in 2024!
It’s hard to quantify exactly how much Kaspa the VoskCoin Mining Farm side of our business mined, because the earnings mesh with other Bitcoin and Altcoin miners on NiceHash, we do have some limited data from f2pool where we mined over 60,000 KAS. The average earnings for our IceRiver KS0, KS0 Pro, KS1, KS2, KS3M, and Bitmain Antminer KS3 combined over the last week is $194.20 per day according to NH, which is about 1,793 KAS per day.
If you want to see the real-world mining profitability of all of the Kaspa ASIC miners, please refer to this screenshot of our mining earnings. Please note these numbers vary by +-25%.
Thanks to everyone who supports VoskCoin content, subscribes, and uses our affiliate links to help drive more content creation. This should be obvious, but VoskCoin has relationships with most companies in crypto mining by now. We hold Bitcoin and Kaspa among other cryptocurrencies, and we are obviously big fans of mining here!
By the way, do you know about VoskCoinTalk, it’s the VoskCoin forum!
