How to earn passive income with the help of cryptocurrency miners?

Well we keep hearing that some Bitcoin miners get daily incomes of almost $10,000. The answer is yes, but in order to get considerable passive income from cryptocurrency mining, you need to be prepared to invest considerable amounts!

What is a Bitcoin Miner?

It is an ASIC-type equipment, which knows how to mine only one type of algorithm, for example SHA-256 – being a proof-of-work protocol. The SHA-256 algorithm is used by several cryptocurrencies such as: Bitcoin Cash, Digibyte, Bitcoin SV, Peercoin, etc. but the almost complete list can be found here. Also, the specialized SHA-256 ASIC can mine all listed cryptocurrencies! A Bitcoin miner (SHA-256) usually has a power consumption of approx. 2 KWh and it is quite noisy, but with a special fan it can also be kept in the block.

What is the profit generated by an ASIC?

Well here I am not going to look at ASICs that mine Bitcoin because the best performing ASICs for Bitcoin, such as the Bitmain Antminer S21 Hyd 335Th, generate approx. $33 per day, from which we must subtract $12 per day for electricity consumption, because it consumes more than 5 KWh. So, I’m going to focus on a Kaspa ASIC specialized on the kHeavyHash algorithm, namely the IceRiver KS5L. It costs around $13,000 today – without import duties and VAT (which are approx. 30%), and without the cost of shipping. But it can generate $74 per day, and for electricity you have to pay approx. $8 per day. So IceRiver KS5L can easily generate $60/day until the next halving. I say this because the Kaspa block is decreasing every month, for example now it is 116 KAS, but next month it will be at 110 KAS, so this miner’s profit may decrease, maintain or increase, it all depends evident by the evolution of Kaspa cryptocurrency.

IceRiver KS5L is an example of a miner that generates quite consistent passive income and can mine multiple cryptocurrencies such as Sedra Coin and Bugna. Both cryptocurrencies have an exciting future, but this paves the way for the IceRiver KS5L miner, which will not only mine Kaspa and will depend exclusively on this cryptocurrency!

Questions and answers

So, if I’ve piqued your interest, you can ask me questions in the comments section and I’ll walk you through how you can earn passive income from cryptocurrency mining.