hey guys red pen whining here hope you're doing well having a really great day this video I have finally hit break even on the ice River k3m I guess when I say finally that means it's like a long time but it's only been like what 5 months and I think 19 days since I've been mining with this thing and we have finally hit the $99,000 break even Mark which means I am going to be giving away the ice fiver k3m okay which is going to happen in about 2 days or I guess one day when you guys see this video it's going to happen on Sunday June 30th 8:30 a.m. Pacific or 11:30 Eastern okay a.m. eastern time so please hit the notification Bell or save this live stream I'll have it linked down below or just go to my channel you'll see it on the front page you have to be there live in order to participate in this giveaway there's going to be a video that I'm going to pin at the live chat that you're going to have to comment on and you also have to subscribe to that YouTuber I'm going to choose a YouTuber with you know low subscribers and I'm going to get people to subscribe to them cuz that's what I like to do help out other creators so this is going to be awesome and just yeah this is just I thought this would take much longer to you know hit the break even mark on the ks 3M back in January of 2024 January 8th okay that's when I received it and I have just been keeping track of all the mining and uh yields that we've been getting this with this Miner since the very uh beginning January 8th and now it's June 27th as a recording so it's not even uh almost hit in 6 months right 5 months and 19 days but you know before I begin doing this video talking about you know how much it's earned and also cost basis if I were to sell every day you know I just want to just preface this video with that this is not a video to persuade anybody to buy ice River or any Caspa miners for that matter okay what I am just showing you guys here is because of a I guess real test of receiving one of these and you know at the time the ice over k3m was about what $9,000 and so my whole thing with this is is just to see when I could in theory get the money back and so my result that I achieved here may not happen with newer miners that are coming out now okay so this is something that you know if you're going to be buying these Casa miners which I do want to talk about uh you know with a lot of things that have been transpiring with Caspa over uh the past couple days as well as you know the cast price has obviously gone up that's why we've hit the break even Mark and yeah all that good stuff okay guys so I have a lot to go through in this video I want to talk about all this so sit back enjoy and let's go so thank you to today's video sponsor endless mining.com if you guys are looking for all different types of Asic miners available go check him out looks like he just listed the bit me at minor dr7 now I know this was a new release from bitmain and I'm probably going to have a video talking about this or potentially I may also get one of these cuz they're about 2141 and apparently they can mine uh SC Prime which I don't know if this is profitable or not judging by the price of this thing it does seem kind of cheap but anyways endless mining.com link down below if you guys are interested okay so let's go through guys I've already done many videos of this k 3M as most of you guys know I got it on January 8th and I've just been mining with it ever since so here is the Caspa pool.or the mining pool that I've been mining to non-stop okay and I've been mining and holding all of this Caspa I have not been selling every day because my belief here was that I could break even faster on this minor if I simply held all the Caspa and obviously wait for price appre iation which has happened okay so January 8th all right just to show here 2024 casos price was about 11 all right now people are going to ask Rena what what if you just bought the coin and yeah I could have bought you know uh about $99,000 worth of Caspa instead and you know the yield if I were to do that was I think I did the math was about 74 75,000 Caspa if it was at 11 cents okay but here we we are today okay about almost 6 months later Caspa just rose up to 18 or I think at the Peak at 19 cents or something or 18 cents around there I have not mined you know the initial yield if I were to buy it instead so in theory buying the coin would have been better at this point in time because 75,000 Caspa would be worth I don't know another what4 $15,000 okay so in that regard buying the coin at that point would be better but also have to consider that I could sell this k3m now but only for like what $2 to $3,000 so still not you know the same as buying the coin and also have to consider that I spent about what ,00 to 1200 in electric as well so at this point in time it looks like buying the coin would have been a better play back in January 8th that is okay if I were to compare apples to apples in terms of dates here of you know when starting to mine and up until now okay since I'm giving this thing away I unfortunately cannot continue on with this test as much as I want to then I could in theory you know see if we could mine maybe you know 74 75,000 Caspa eventually right better than buying the coin and then also considering if there's going to be massive price appreciation then you know this Casper Miner could potentially just you know k3m could just keep on printing money in the sense because making money as you know right now this thing is currently making about $27 a day at one point it was $50 at one point it was you know $90 or $100 obviously been going down and there's a lot of things to why that's happening I I will go through that in a sec here but you know just now talking about what if I were to sell every day okay so I'm using coin.io here this is the tax software that I use for all of my you know crypto transactions um I pay income tax on my on my crypto and all that kind kind of stuff because I run this as a business I depreciate my miners I expense everything such as my electric internet bill cell phone all that kind of stuff that you know Associated to my business so that helps with lowering the income tax okay so but I'm not a financial tax adviser go talk to your CPA Financial tax adviser all that kind of stuff okay so anyways going through here I've imported the transactions into coin Le okay so everything here all right and if you want to use coin Le link down below but anyways looking at here now just to compare if what if I were to sell every day okay so my cost basis here is when I have received Caspa every single 500 Caspa payout from Caspa Das poool okay so looking at Caspa uh looking at the transactions here it's pretty much I was getting you know 500 500 C A Day near in the beginning okay or some days it was and some days it was less but pretty much every day I was getting like 500 Caspa on this k3m and at that time it was actually we go the beginning okay if we go here okay so at the beginning point I was maybe making like 57 uh a day but as time went on as CLE price started you know appreciating I was maing like $70 a day uh but still 500 I I set the payouts at 500 but so it's not really daily okay but this is still pretty close to you know selling you know if I were to sell every day this is my cost basis of when I received the coins in my wallet okay you guys can see this is the market value of the received coins that hits this wallet okay this is the transaction of this Casa wallet just to let you all know okay some people were kind of confused about that what cost basis means cost basis means is when I receive it in my own wallet and that at that time is the price of it and so if I were to Simply sell every day it would only be worth $674 okay so another thing to consider I do have to pay taxes on this but at the same time also depreciating the hardware expensing expensing the electric and all that kind of stuff so obviously selling the Caspa every day would not be in this scenario that I've been doing okay is not a good idea because obviously you guys can see there is a gain here unrealized gain cuz obviously I haven't sold it yet okay but I'm obviously still going to hold this Caspa is that if I were to sell it all now it'd be worth about $91 $9,200 the initial investment of that k3m was $99,000 so in theory we have break evened on the k3m the initial investment of $9,000 so if I were to sell it I would have a capital gain of about $2500 as you guys can see here so I do have to pay taxes on that again with all my other Mining and all that kind of stuff if you guys are doing that as well you can you know appreciate expense all the other stuff that you have for mining anyways the disclaimer that I had in the beginning just to mention is this going to happen to someone else that is going to buy a Caspa Miner now I don't know okay this is really going to depend on all the variables such as the Caspa price is it going to appreciate further another thing to consider is how much more is the Caspa Network hash rate going to climb as we have also a 5.6% decrease of emissions every single month everyone knows the C emission schedule is a very aggressive schedule and so that in turn with the network cash rate Rising the difficulty is increasing the 5.6% decrease in emissions as you guys can see right the beginning I was making like you know depending on the price of Casa $50 to $70 a day on this thing and uh you know it was good for a good while okay in terms of the you know the dollar value that I was making but now as we are hitting up you know 27 $ it's not the $70 as it was before okay so just you guys have to consider you know how much more of this Hardware is going to come online how much a hash rate is you know it's it's quite it's climbing quite considerably and we haven't even hit the you know the re the release of the ks5 pros um come August or beginning of September okay so that's going to potentially increase the hash rate quite a bit and also another announcement from Marathon uh digital Holdings uh they are a massive Bitcoin entity Bitcoin mining entity they've actually announced that they have been in the game since I think September and they've mined almost 93 million Caspa okay equivalent to about $15 million which really compared to the kaspa's market cap right now which I think is 4.3 billion it doesn't seem like a lot but if they sold it it obviously you know it could you know have a have a dump down but anyways you know they are going to be investing a lot more and apparently they're going to turn on like another what 30 they have currently have about 30 penah has and then they said they also are going to have another I think 60 ter petahash come online okay so just them alone to have another 60 penah has is like going to be 410 penah has and then considering as well as you know when all of these all these other models that are coming out in July okay there was a second batch from Ice River here ks5 l ks5 M for July and also then in August when the ks5 pros come out apparently there's and through the grap find there's from Leela mining it was announced from him that or her sorry I don't know if it's a girl or guy I'm sorry is that if there were 20,000 units sold out to resellers then I think we did the math you know 20,000 of these ks5 Pros would would add on would tack on another almost 400 to 420 petahash okay so that would pretty much more than double the network hash rate current Cy as of recording this video come August and September so just considering if that doubles you know then I'm thinking you know by the time that happens this k3m in the next 2 or 3 months and if the price of Caspa doesn't go up at this current time this thing is probably going to make about what $13 $10 a day okay just considering also the emission schedule 5.6% decrease and also the potential massive increase in network hash rate but I'm thinking you know I I'm I'm trying not to I'm trying to give all the different scenarios here I'm sure or not sure if Casp is going to go up more much more of where it is now but uh this recent pump we had I think was because of marathon and uh talking about their bullish case here with Caspa that it has pretty much uh it has pumped recently so looking at that you know as everyone seems to be PR quite positive on Caspa I know everyone seems to be and uh but I'm trying to air on the side of caution here uh for anyone that's going to get into castal mining just understand the risks okay understand the risks that are involved and what I just I just talked about earlier and what I was able to achieve here on this k3m okay is something that you know is not pro it's probably going to be a lot further out for anyone that's going to bind at Caspa miners right now their Break Even point in terms of the dollar value you know it may work it may happen in the next 6 to 12 months okay you may get your money back and that is a great return obviously especially with these cers you know 5 months and 19 days for this k3m is a pretty amazing return okay but is it going to happen to you or for anyone that's going to buy these in the you know this next couple months who knows it it really depends on all the variables I talked about especially with aspa price you know how many more of these miners are going to come on all that kind of stuff so this is all things to consider but if you believe in kaspa as many people seem to believe believe you know not Financial advice you know it it could very well bode well and the investment in terms of the dollar value uh not necessarily the uh the yield okay if you example what I just talked about buying the coin instead you know maybe buying the coin will be a better uh investment at this point in time okay in my opinion and I have given my opinion about this maybe a couple weeks ago month or two ago regarding buying castle miners I think at this point in time especially if altcoin season is coming if we're on the precipice of it or not you know then you know with the short-term potential price increase of Caspa then it would be obviously be a better investment to buy the coin rather than the minor because if you want to see the higher gains I guess then buying the coin at this point in time would be better but not Financial advice of course who for all we know Casper could just go down now I'm not saying it's going to but it it could it could okay it could but anyways guys I think I've gone through everything here I hope you guys will enjoy the k3m we will give away on Sunday 8:30 a.m.
Pacific or 11: a.m. eastern time okay so I'll have it linked in the description you guys can you know get that live stream ready you have to be present in order to win you have to be there when I announce your name and then you have to also chat in the live chat when I call out your name okay so just read the description there I have it all here and yeah this is going to be a sorry North American giveaway only I I hate shipping out this big minor out outside of North America as it is quite sensitive and you know I've had to you know thermop paste retherm paste this thing and it's very sensitive and yeah so yeah I'm going to unfortunately I know a I'm going to get a lot of flock for this but I I have to give this away I hope you guys understand um maybe I don't know if if if I do worldwide then I mean people have to find a uh like a how do you Whatchamacallit like a middleman in North America that could send out to your country you know what yeah I'll I'll open it to that if I can only ship it within North America but if you have a freight forwarder that can go to your country from you know North America that would be great so yeah you know what let's do that the the requirement is is that I'll have to ship it within North America but if you're outside North America worldwide then but you'll have to find a forwarder in North America that can ship to you okay so all right my friends let me know your thoughts about all this that I talked about finally hit that break even and uh I will see you all on the live stream on Sunday to give away the k3m live okay so I'll see you all in the next video have a good one peace out
