diff --git a/common/commands/src/validator/mixnet/operators/mixnode/settings/mod.rs b/common/commands/src/validator/mixnet/operators/mixnode/settings/mod.rs
index 9d0c018cf94..4ab2a0a4ffc 100644
--- a/common/commands/src/validator/mixnet/operators/mixnode/settings/mod.rs
+++ b/common/commands/src/validator/mixnet/operators/mixnode/settings/mod.rs
@@ -4,6 +4,7 @@
 use clap::{Args, Subcommand};
 
 pub mod update_config;
+pub mod update_cost_params;
 pub mod vesting_update_config;
 
 #[derive(Debug, Args)]
@@ -20,7 +21,5 @@ pub enum MixnetOperatorsMixnodeSettingsCommands {
     /// Update mixnode configuration for a mixnode bonded with locked tokens
     VestingUpdateConfig(vesting_update_config::Args),
     /// Update mixnode cost parameters
-    UpdateCostParameters,
-    /// Update mixnode cost parameters for a mixnode bonded with locked tokens
-    VestingUpdateCostParameters,
+    UpdateCostParameters(update_cost_params::Args),
 }
diff --git a/common/commands/src/validator/mixnet/operators/mixnode/settings/update_cost_params.rs b/common/commands/src/validator/mixnet/operators/mixnode/settings/update_cost_params.rs
new file mode 100644
index 00000000000..0616a81d332
--- /dev/null
+++ b/common/commands/src/validator/mixnet/operators/mixnode/settings/update_cost_params.rs
@@ -0,0 +1,48 @@
+// Copyright 2021 - Nym Technologies SA <contact@nymtech.net>
+// SPDX-License-Identifier: Apache-2.0
+
+use crate::context::SigningClient;
+use clap::Parser;
+use cosmwasm_std::Uint128;
+use log::info;
+use nym_mixnet_contract_common::{MixNodeCostParams, Percent};
+use nym_validator_client::nyxd::contract_traits::MixnetSigningClient;
+use nym_validator_client::nyxd::CosmWasmCoin;
+
+#[derive(Debug, Parser)]
+pub struct Args {
+    #[clap(
+        long,
+        help = "input your profit margin as follows; (so it would be 10, rather than 0.1)"
+    )]
+    pub profit_margin_percent: Option<u8>,
+
+    #[clap(
+        long,
+        help = "operating cost in current DENOMINATION (so it would be 'unym', rather than 'nym')"
+    )]
+    pub interval_operating_cost: Option<u128>,
+}
+
+pub async fn update_cost_params(args: Args, client: SigningClient) {
+    let denom = client.current_chain_details().mix_denom.base.as_str();
+
+    let cost_params = MixNodeCostParams {
+        profit_margin_percent: Percent::from_percentage_value(
+            args.profit_margin_percent.unwrap_or(10) as u64,
+        )
+        .unwrap(),
+        interval_operating_cost: CosmWasmCoin {
+            denom: denom.into(),
+            amount: Uint128::new(args.interval_operating_cost.unwrap_or(40_000_000)),
+        },
+    };
+
+    info!("Starting mixnode params updating!");
+    let res = client
+        .update_mixnode_cost_params(cost_params, None)
+        .await
+        .expect("failed to update cost params");
+
+    info!("Cost params result: {:?}", res)
+}
diff --git a/tools/nym-cli/src/validator/mixnet/operators/mixnodes/settings/mod.rs b/tools/nym-cli/src/validator/mixnet/operators/mixnodes/settings/mod.rs
index 77b12e2cc4e..a5d5c028838 100644
--- a/tools/nym-cli/src/validator/mixnet/operators/mixnodes/settings/mod.rs
+++ b/tools/nym-cli/src/validator/mixnet/operators/mixnodes/settings/mod.rs
@@ -13,6 +13,9 @@ pub(crate) async fn execute(
         nym_cli_commands::validator::mixnet::operators::mixnode::settings::MixnetOperatorsMixnodeSettingsCommands::UpdateConfig(args) => {
             nym_cli_commands::validator::mixnet::operators::mixnode::settings::update_config::update_config(args, create_signing_client(global_args, network_details)?).await
         }
+        nym_cli_commands::validator::mixnet::operators::mixnode::settings::MixnetOperatorsMixnodeSettingsCommands::UpdateCostParameters(args) => {
+            nym_cli_commands::validator::mixnet::operators::mixnode::settings::update_cost_params::update_cost_params(args, create_signing_client(global_args, network_details)?).await
+        }
         _ => unreachable!(),
     }
     Ok(())