Kaspa (KAS) price goes against the market flow, continuously increasing and just setting a new high in August. Investor interest in this PoW Altcoin has also increased. In fact, for a long time, many miners in Vietnam have switched to mining KAS.
The following are notes from BeInCrypto about KAS mining interest in Vietnam.
Also Read: Kaspa (KAS ) returns to monthly high, likely to continue rising in the short term
Kaspa (KAS ) Miners in Vietnam benefit from price increases
The KAS mining wave started when Ethereum switched from PoS to PoW consensus mechanism. Miners use existing machines to seek new opportunities from other PoW Altcoins in the market.
People new to KAS mining often do not spend a lot of Capital to buy specialized mining machines, but take advantage of video cards (GPUs) or available hardware, mainly for "apprenticeship". Chia experiences is also very limited on the internet. Because miners believe that the more people know, the difficulty will increase, making it harder for them to mine more KAS .
Therefore, this wave grows silently among miners who have previous experience mining Bitcoin or Altcoin. And from there, acquaintances Chia with each other.
From July 2023, many miners in Vietnam Chia that, with just one specialized mining device Asis Iceriver KS0, a miner could mine more than 1000 KAS per day, equivalent to about 20 USD - 25 USD at that period. . If you know how to use electricity economically or hold KAS , then in the past year, KAS Miners have had a high chance of making a profit.
However, things don't stop there. As the number of people participating in mining increases, Bitmain releases a new generation Mining Rig such as the AntMiner KS3 in August 2023. And more powerful Iceriver machines were born like KS3, KS5... the difficulty of mining Kaspa increased, Iceriver machines like KS0 were not enough to compete and make a profit. The picture below shows the profit earned per day with new generation KAS Mining Rig (with equivalent electricity fees in Vietnam of about 0.12 USD/kWh).
Calculate KAS mining profit according to Mining Rig. Source: whattomineAccording to research from BeInCrypto, an Iceriver KAS KS5M costs more than 197 million, or an Antminer KS3 costs 147 million, an Antminer KS5 costs up to 336 million. Only miners with Capital can afford to invest in upgrades. Although miners mined less, in return the price of KAS increased sharply.
Kaspa 's hashrate has increased continuously from 2023 until now. Source: 2minersThe chart above shows that Kaspa 's Hashrate has increased continuously from 2023 until now. During this period, KAS price increased 100 times (if calculated from 2022, KAS has increased 1,000 times). Hashrate reflects the mining performance of the hardware. Increasing hashrate shows that mining operations are becoming more and more competitive.
Thus, in just the past year, KAS mining activities have quickly eliminated small-scale players, leaving only investors with factories, cheap electricity and Capital potential in the community. to raise expectations for a long-term increase in KAS price.
Miners in Vietnam expect KAS price to continue to increase
Miners in Vietnam expect Kaspa 's (KAS ) Capital to continue to increase and catch up with the market Capital of leading PoW Altcoins such as Dogecoin (Doge), Bitcoin Cash (BCH).
PoW Altcoin Capital ranking. Source: CoinmarketCap.One of the main reasons is as follows:
- Marathon Digital (MARA) - a giant in the Bitcoin Mining market - announced it would start mining Kaspa last June. This is the latest move in MARA's efforts to diversify its revenue.
- Kaspa is one of the Altcoins that Bitmain is interested in producing its own specialized Mining Rig , proving that the world's leading Mining Rig manufacturer's vision and expectations for KAS have not stopped.
- KAS has not yet been listed for spot delivery on Binance (only listed Futures Contract). Miners wait for that moment to see the KAS price explode.
- Comparing Capital with other PoW Altcoins, KAS ranks TOP5 but is still very far away from Doge or BCH. KAS price is expected to double or triple its current level to match the interest that many parties have in it.
For individual investors, mining KAS at this time may be difficult to make a profit, but if you have the same perspective as miners, investing in KAS may be a choice worth considering.
Also Read: Virtual currency mining groups in Vietnam are all exhausted
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