Hello, I’m planning to buy my first ASIC and I’m considering this one.
Can you share your thoughts on it? If it’s not a good choice, what else would you recommend?
Thanks!
I wouldn’t recommend Kaspa miners at this stage. The monthly drops and increasing hashrate mean profits are going down fast.
Whatever it earns now, expect the profit to drop by half every 4 to 6 months. In a year, it might only make a quarter of what it does now, probably even less.
For it to make sense, you’d need a big price jump for Kaspa. If you think that might happen, you should just buy Kaspa instead.
You’ll also need very low electricity costs to have a chance. Something like under 8 cents per kWh.
Plus, there’s always the risk of breakdowns. I had two S19 hash boards fail in the past year, which needed repairs. And that comes with the cost of downtime.
By the way, I’m almost done with Kaspa mining. Profits are falling so fast that the risk is too high for me.
@Conley
Thanks a lot! What do you think about the L7 instead?
I’m open to suggestions on what to get.
Dax said:
@Conley
Thanks a lot! What do you think about the L7 instead?
I’m open to suggestions on what to get.
The L9 is outperforming in every important area. And Doge has big price changes during bull markets.
I feel better about Doge.
Do you have 240V and a place that can handle a lot of noise? These machines are very loud.
By the way, I mine Doge too.
@Conley
I found a hosting company that charges 0.09$ cents… where I live, electricity is more expensive.
Dax said:
@Conley
I found a hosting company that charges 0.09$ cents… where I live, electricity is more expensive.
I think 9 cents per kWh with an L9 would be alright.
You’d be mining and holding until mid-2025. You’ll probably be mining at a loss most of the time, but you can sell during likely price spikes in 2025.
If you look around, you should find better rates than 9 cents per kWh.
What country are you in?
@Conley
I’m in Italy, and the facility I found is in the USA.
Dax said:
@Conley
I’m in Italy, and the facility I found is in the USA.
You might also check out:
D-Central in Canada
East Coast ASIC in the USA.
Musk Miners in the USA.
These should all be cheaper than 9 cents per kWh and are very reputable.
Since you’re from Europe, dealing with a Canadian company has fewer tax issues compared to the USA. Handling taxes with a US company as a foreigner is really complicated. Canada doesn’t have those problems.
By the way, not tax advice. Do your own research.
@Conley
Thanks so much for the tips! D-Central sounds like a good option. If you don’t mind me asking, do you have some miners for cashing in and some to hold long-term?
Dax said:
@Conley
Thanks so much for the tips! D-Central sounds like a good option. If you don’t mind me asking, do you have some miners for cashing in and some to hold long-term?
I have a miner with D-Central too. They allow payment in Bitcoin.
Dax said:
@Conley
Thanks a lot! What do you think about the L7 instead?
I’m open to suggestions on what to get.
For Doge, you’ll want your electricity costs to be 10 cents per kWh or lower.
@Conley
What do you think? What’s my best option? For 0.09, which machine would be the best for me?
Dax said:
@Conley
What do you think? What’s my best option? For 0.09, which machine would be the best for me?
If you prefer low risk, maybe an S21 Pro or S21 XP.
The L9 carries a lot more risk. You could lose a lot more or make a lot more. Everything is more extreme with it.
Since this is your first ASIC, you might consider cheaper mini-box miners that you can use at home. Like the Goldshell Minj Doge III plus. It’s a riskier option, but you’d have less money invested.
By the way, I have one of those too.
@Conley
I see, maybe with an S21 I can hold the coins for a while. But I’m curious about your strategy. Do you have some miners to cash in and some to hold long-term?