Kaspa miner prices in 2026: every KS model, and what it really costs to run

An IceRiver KS3 cost $13,989 at launch in late 2023. The same machine is listed at $1,950 today, and at any realistic power price it loses money every day it runs. That single line is the whole Kaspa hardware market in 2026, and it explains why the search results for "IceRiver KS3 price" are full of shops quoting numbers nobody has paid in two years.

This page gives the actual prices, the actual earnings, and — more usefully — the break-even electricity rate for every kHeavyHash miner still in circulation. All network figures were pulled live on 31 August 2026.

If you want to skip to what we stock, the Kaspa miners page lists it. For a side-by-side against every other coin we sell, use the profitability ranking.

What Kaspa mining pays right now

Two things to flag before the tables, because both change how you read every number below.

Kaspa has no halvings. The reward falls by a factor of 2^−1/12 every month — about 5.6% monthly, which compounds to exactly 50% a year. There is no cliff to plan around and no relief either. Whatever a machine earns today, it earns roughly half of that next August at the same price and hashrate.

Trackers disagree by about 8%. Live network state implies 6.19 KAS/TH/day; ASIC Miner Value's per-model figures imply 5.73, apparently from a trailing hashrate average nearer 348 PH/s. We use the lower, more conservative figure throughout. If another site quotes you higher earnings, check which number they used.

Every Kaspa miner, ranked by the only number that matters

Break-even is the electricity price at which a machine earns exactly what it costs to run. Above it you lose money every hour it is switched on, regardless of what you paid for the hardware.

Worked example so you can check us. The Antminer KS7 40Th: 40 × 5.731 = 229.2 KAS/day, at $0.02728 that is $6.25. It draws 3.08 kW, so 73.9 kWh/day. Break-even is 6.25 ÷ 73.9 = $0.0846/kWh.

The suffix does not tell you what you think

Three findings from the table that catch people out.

IceRiver no longer makes the best Kaspa miner. Bitmain's Antminer KS7 runs at 68–77 J/TH against IceRiver's own KS7 at 117 J/TH — roughly 1.6× more efficient. It is the only kHeavyHash machine that stays profitable above 8.5 cents per kWh, which is to say the only one a normal European industrial tariff can carry.

Newer is not better within the IceRiver range. The KS3 (400 J/TH) beats the later KS3M (567 J/TH). The KS3L, at 5 Th/s for 3,200 W, works out at 640 J/TH — the least efficient kHeavyHash ASIC ever shipped — and was still marketed as a step up from the KS3. If you are shopping second-hand, ignore the letters and do the division yourself.

The little one is as good as the big one. The KS7 Lite at $638 and the KS7 30Th at over three times the price have essentially the same break-even — $0.055 against $0.056. The Lite draws 500 W, so it runs from an ordinary wall socket instead of needing a dedicated circuit. For anyone testing the water rather than building a farm, that is the machine.

Why the old KS models are cheap, and why that is a trap

An 86% drop looks like an opportunity. Run the numbers and it isn't. A KS3M at $500 breaks even at 1.2 cents per kWh. At a typical European industrial rate of 5 cents it loses $3.14 a day — it burns its own purchase price in about 159 days and then keeps going.

Buying a legacy KS model is rational in exactly one situation: you have genuinely free or curtailed power and you are treating the machine as a cheap call option on the KAS price rather than as a business. As one miner put it bluntly in a thread about a different chain, "free electricity is a myth" — and if you are paying for it, the arithmetic above is the arithmetic.

There is a second trap in the listings themselves. On the same day we checked, the IceRiver KS5M was $490 at one retailer and $2,349 at another — same SKU, 4.8× spread. Old ASIC listings are a mix of liquidation prices and stale price tags nobody has updated since 2024. Any article quoting a single "market price" for these machines is quoting a fiction.

What the network is telling you

Kaspa's hashrate has fallen from roughly 710 PH/s a year ago to about 323 PH/s. Hashrate leaving is not a mystery — it is miners responding to the emission schedule cutting revenue in half every twelve months while the price has not doubled to compensate.

The community reflects it. In an August 2026 thread on the fee market, one miner wrote that "majority of miners except for a couple rigs you lose money to mine." Another, in July: "I sold all my miners 6 months ago since I was mining at a loss." A third, discussing what $10,000 buys, noted it gets you "20 used KS5 20Ts in this market" — around $500 a unit for hardware that listed at multiples of that.

Read positively: falling hashrate means the remaining miners take a larger share of a shrinking pot, and the machines are cheap. Read honestly: you are buying into a chain whose per-hash revenue is designed to halve annually, so the only defensible position is efficient hardware and very cheap power.

What we would actually buy in 2026

If you have industrial power (5 cents or below): the Antminer KS7 40Th at $1,352. It is the efficiency leader by a wide margin and the only machine with real headroom above 8 cents. Everything else on the list needs power most people cannot get.

If you want to try Kaspa without rewiring anything: the IceRiver KS7 Lite at $638. 500 W from a normal socket, and the same break-even as machines costing three times more.

If you are hosting with us: the older high-draw units become viable again, because break-even stops being the binding constraint. Our cheapest facility runs at $0.0072/kWh. At that rate a KS5L that would lose money on any home tariff runs comfortably positive. That is the entire argument for hosting a Kaspa miner rather than running one in a garage, and it is worth checking against the calculator with your own numbers.

What we would not buy: KS1, KS2, KS3L or KS3M at any price, unless the power is free. The efficiency is so poor that the electricity bill overtakes the hardware cost within months.

Read next: the full IceRiver range, why ASIC prices fell in 2026, or the live profitability ranking. Network data from the Kaspa API, CoinGecko and ASIC Miner Value on 31 August 2026; hardware specifications from ASIC Miner Value; retail prices from CryptoMinerBros and BT-Miners on the same date. Mining profitability is never guaranteed, and Kaspa's emission schedule reduces per-hash revenue by roughly 50% per year by design — run your own numbers before buying.