Kaspa is back on miners’ screens. During our September 28, 2026 review, CoinGecko showed a roughly 70% gain over 30 days. For a miner, however, the useful question is not simply how far KAS has rallied. It is whether revenue per unit of hashrate has improved enough to justify running—or buying—a machine. Market reference: CoinGecko.
The short answer: today’s network snapshot gives an Antminer KS7 45T theoretical output of approximately 244.75 KAS per day, worth $11.65 before fees. At $0.05/kWh and the 3,465W specification listed by LeedMiner, that leaves about $7.49 per day after electricity alone.
These figures are calculated from current network inputs. This article also includes current LeedMiner sale-option prices and a calculator link so buyers can replace the snapshot with their own operating assumptions.
Data timestamp: September 28, 2026, 07:13 UTC / 15:13 China Standard Time. Market and network figures are point-in-time observations; future prices, difficulty and payouts will change. Cover: AI-generated infrastructure concept, not a photograph of a specific mine or product.
1. Price rose faster than sampled network hashrate—but emission still matters
A mining profitability window opens when the dollar value earned by a fixed amount of computing power improves faster than its operating costs. A higher token price helps, but network competition and the subsidy schedule determine how many tokens a machine receives.
Kaspa’s public network history recorded approximately 321.29 PH/s on August 29 at 05:19 UTC, compared with 351.22 PH/s on September 28 at 06:07 UTC: an increase of about 9.3% between those daily samples. That is substantially less than the roughly 70% 30-day price gain shown during the market review. These are sampled endpoints, not monthly averages or proof that hashrate stayed flat. Explore Kaspa network data.
The latest hashrate reading used in the calculation below was 346.74 PH/s. Its difference from the earlier daily sample illustrates why a mining article needs timestamps: network estimates fluctuate throughout the day.
The metric to watch is hashprice
For this article, hashprice means gross USD revenue per TH/s per day. Ignoring transaction fees and reward-allocation differences, the relationship is:
Revenue per TH/s ≈ network subsidy per day ÷ network TH/s × KAS price.
A higher KAS price increases revenue. More competing hashrate reduces the share earned by an unchanged machine. Lower scheduled issuance reduces the subsidy available to everyone. The current calculation gives approximately $0.2588 per TH/s per day, before pool fees and operating costs.
Kaspa reduces its subsidy monthly by a factor of 2^(−1/12), about 5.61% per month, equivalent to halving over twelve reductions. Even with unchanged price and competition, subsidy-driven coin output declines over time. Kaspa tokenomics.
A rally may encourage idle machines to restart and new equipment to ship, while sellers may reprice inventory. That is a possible economic response, not evidence that every such step has already happened. The useful takeaway is to recalculate promptly rather than assume that today’s margin will last.
2. What a KS7 45T can produce today
The calculation uses the 45 TH/s, 3,465W configuration currently listed by LeedMiner, equivalent to 77 J/TH. Power ratings vary across listings and configurations: this article uses the exact product being quoted, rather than combining a 45T price with another configuration’s electricity consumption. KS7 45T product specifications.
The network inputs and formula
| Input | Value used |
|---|---|
| Miner hashrate | 45 TH/s |
| Estimated network hashrate | 346,738.217753 TH/s, or 346.738 PH/s |
| Subsidy per block | 2.18267645 KAS |
| Target block rate | 10 blocks/second |
| Seconds per day | 86,400 |
| KAS price, same capture window | $0.04758974 |
| Uptime / pool fee in base calculation | 100% / 0% |
The public network feed supplied hashrate, subsidy and price within the same two-second capture window. Kaspa’s documented block rate is 10 blocks per second. The network feed may cache individual fields, so this is a closely timed snapshot rather than an atomic market-and-chain observation. Kaspa network explorer, Kaspa protocol overview.
Daily theoretical subsidy = (45 ÷ 346,738.217753) × 2.18267645 × 10 × 86,400 ≈ 244.745 KAS.
Daily gross revenue = 244.745 × $0.04758974 ≈ $11.65.
This is an estimate of a full day at the captured network conditions—not coins already mined today, a pool-account payout record or a guaranteed daily result. It excludes transaction fees and assumes the miner earns its proportional share of the subsidy. Accepted shares, stale or rejected work, uptime, pool rules and reward variance affect realized output. A simple 2% pool-fee adjustment reduces the estimate to approximately 239.85 KAS/day, before other differences.
Electricity decides how much revenue remains
At 3.465 kW, uninterrupted operation uses 83.16 kWh/day. Subtracting electricity from unrounded gross revenue gives:
| Electricity rate | Power cost/day | Gross revenue/day | Surplus after electricity/day | Static equipment payback at $1,900 |
|---|---|---|---|---|
| $0.03/kWh | $2.49 | $11.65 | $9.15 | 208 days |
| $0.05/kWh | $4.16 | $11.65 | $7.49 | 254 days |
| $0.07/kWh | $5.82 | $11.65 | $5.83 | 326 days |
| $0.10/kWh | $8.32 | $11.65 | $3.33 | 570 days |
The $1,900 equipment input is the LeedMiner KS7 45T “In Stock” sale option checked for this article. A cheaper, unavailable batch is not used for the purchase calculation. Shipping, duties, setup, financing, pool fees, hosting charges, cooling overhead, repairs and downtime are excluded. The surplus is therefore not all-in net profit. Calculations use unrounded inputs; displayed amounts are rounded independently.
At $0.05/kWh, adding a 2% pool fee reduces electricity-after-fee surplus to about $7.26/day, extending this still-static equipment payback to approximately 262 days.
Payback is not a return guarantee
Equipment price divided by daily surplus measures a static payback period, not an ROI percentage. It freezes price, competition, emissions and performance at today’s values. A 254-day result does not promise recovery of the purchase price in 254 calendar days.
Use total installed cost rather than the machine invoice alone when evaluating a real deployment. Where a hosting tariff already includes electricity, separate its components to avoid counting the same power charge twice. Low electricity prices help both daily margins and resilience, but do not remove token-price or hardware risk.
3. Stress-test the window before buying
A sound purchase decision should survive more than today’s optimistic-looking screenshot. Test price and network competition together, then account for future subsidy reductions separately.
What if the KAS price changes first?
Holding today’s estimated 244.745 KAS/day constant isolates price sensitivity:
| KAS price | Theoretical gross revenue/day |
|---|---|
| $0.030 | $7.34 |
| $0.040 | $9.79 |
| $0.04758974 snapshot | $11.65 |
| $0.050 | $12.24 |
| $0.060 | $14.68 |
| $0.070 | $17.13 |
These are scenarios, not price targets. For a fixed power draw, run time and electricity tariff, the electricity bill does not rise merely because KAS becomes more expensive. That makes the surplus especially sensitive to price near the shutdown threshold. The same effect works in reverse when KAS falls.
What if competition increases?
If network hashrate rises 30% while machine performance and subsidy remain unchanged, coin output is divided by 1.30: a decline of about 23.1%, not 30%.
Now combine a 20% price fall with a 20% hashrate increase. Revenue becomes 0.80 ÷ 1.20 = 66.7% of baseline, or approximately $7.76/day. That leaves about $3.61/day at $0.05/kWh, but approximately −$0.55/day at $0.10/kWh, before other costs. A subsequent monthly subsidy reduction would compress those figures further.
A separate conservative scenario of $0.035/KAS and 20% more network hashrate produces approximately $7.14/day gross, leaving $2.98/day after electricity at $0.05/kWh. Under a $0.06 price scenario with unchanged competition and subsidy, gross revenue would instead be about $14.68/day. Neither scenario predicts the future.
Where is the electricity-only shutdown line?
At today’s theoretical coin output, the break-even KAS price is daily electricity cost divided by estimated KAS/day:
| Electricity rate | Electricity-only break-even KAS price |
|---|---|
| $0.03/kWh | $0.01019 |
| $0.05/kWh | $0.01699 |
| $0.07/kWh | $0.02378 |
| $0.10/kWh | $0.03398 |
These thresholds rise when output declines or additional costs are included. They are operating-cost markers, not investment break-even prices. A machine may cover electricity while still failing to recover its purchase cost.
Bottom line: the recent price move and the more modest increase between sampled network-hashrate readings support revisiting Kaspa mining economics. The opportunity is conditional. Price determines the dollar value of rewards; competition and emissions determine the coin allocation; power costs determine operating headroom; the exact purchase price determines how much capital must be recovered.
Current LeedMiner KAS miner prices
Selected sale options checked September 28, 2026. USD per unit; MOQ 1. These are the prices of the named configurations/options—not an average across batches and not a promise of future availability. Open the product page and select the named option; a parent listing or unavailable option may display a different price. Final order confirmation governs delivery, shipping, taxes and warranty.
| Miner | Hashrate | Listed power | Sale option | Price | Catalog availability |
|---|---|---|---|---|---|
| Bitmain Antminer KS7 | 45 TH/s | 3,465W | In Stock | $1,900 | In stock |
| IceRiver KS7 | 30 TH/s | 3,500W | 5 days | $2,000 | In stock; confirm dispatch |
| Bitmain Antminer KS5 Pro | 21 TH/s | 3,150W | In Stock | $1,199 | In stock |
| Bitmain Antminer KS5 | 20 TH/s | 3,000W | USA-In Stock | $400 | 1 unit shown in catalog |
All four use KHeavyHash. A low purchase price alone does not imply a superior return: lower-efficiency machines may lose their apparent advantage at higher electricity rates. The KS7 revenue and payback figures above apply only to the 45T example; they are not shared across this table.
Bitmain Antminer KS7 (45Th)
Air cooling · 3,465W · 77 J/Th · See selected option and stock on product page
IceRiver KS7 (30Th)
Air cooling · 3,500W · 116.67 J/Th · See selected option and stock on product page
Bitmain Antminer KS5 Pro (21Th)
Air cooling · 3,150W · 150 J/Th · See selected option and stock on product page
Bitmain Antminer KS5 (20Th)
Air cooling · 3,000W · 150 J/Th · See selected option and stock on product page
Calculate your KAS mining ROI before ordering
Start with your actual electricity rate, the exact miner configuration and the selected batch price—not somebody else’s payback screenshot.
Use the LeedMiner KAS ROI & Profit Calculator to review current revenue inputs, power costs, pool fees and equipment cost. Start with KS7 45T, verify 3,465W, and enter the $1,900 sale-option price. Compare your actual tariff with a higher-cost case. Run a separate downside case for lower KAS prices, stronger competition and declining subsidies; a static calculator result is not a forecast of future cash flows.
Need a deployment quote? Contact LeedMiner with your model, quantity, delivery destination and electricity rate. For hosted deployment, review the hosting options and confirm what the quoted tariff includes.
Methodology: proportional subsidy-share calculation using Kaspa public network data captured at 07:13:20–07:13:22 UTC on September 28, 2026; 10 blocks/second; no transaction fees; 100% uptime and zero pool fee unless otherwise stated. Product specifications, sale-option prices and approved images were checked against LeedMiner’s catalog. Market performance context is from CoinGecko and is separate from the same-window calculation inputs. This is a dated operating-economics analysis, not a guaranteed return or a recommendation to borrow to buy mining equipment.
