Kaspa Mining Efficiency & Hashrate Over Time

Published on January 11, 2025
Analysis by Michael Mezher, Founder MEZTech

Kaspa (KAS) uses a unique blockDAG architecture and is mined using the kHeavyHash proof-of-work algorithm, which is designed to be GPU-friendly. Over time, new GPU cards, ASICs and specialized configurations have resulted in more efficient hashing power. Because Kaspa’s value is also driven by a mix of speculation and fundamental demand, it’s worth exploring how energy usage has related to KAS market capitalization historically. This visualization shows MW/$B over time, using approximate assumptions for hardware efficiency (in TH/s/W), Kaspa hashrate (in EH/s), and KAS market cap (in USD).

Determining the hardware mix for a relatively new PoW coin can be challenging. We rely on approximate release dates and major improvements in GPU/ASIC efficiency for kHeavyHash, with linear interpolation between these dates to model a gradual shift in overall network hardware. Feel free to adjust the milestone entries below and click "Update Plot" to see the effect on MW/$B.

Disclaimer: All calculations here are estimates based on indicative hashrates, hardware efficiency, and market caps. Real-world power usage can vary significantly, and market valuations are constantly in flux. Always perform your own research and use multiple data sources before drawing conclusions.

Sources