Mr Kaser, from Nebraska, was unloading corn last month when he climbed out of his truck and accidentally stepped on the opening of a grain hopper.
The entire ordeal lasted about five minutes, but Kaser sounded sanguine about it and the loss of the bottom half of his leg.
"I didn't have a phone on me, I didn't know where it had gone, so I just started cutting with the knife", he said. He wasn't sure how long he'd stay conscious.
He realised that his only option was to "cut it off" using the small knife in his pocket.
A grain farmer for 40 years, Kurt Kaser knows his farming equipment well - but he recently battled with the tools for his life in a horrific accident that cost the man his leg.
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"The bone stuck out down to my ankle", told Omaha World-Herald. Kaser says he never lost consciousness.
His occupational therapist, Dani Willey, said Kaser - who admitted that he "paid the price" for not paying attention - now has his sights set on returning to his farm.
Kaser watched the machine mangle his leg, first removing his foot from his body and continuing to tear away flesh from further up the limb. "I said, 'The only way I'm getting out of here is to cut it off, ' so I just started sawing at it".
"Adrenaline kicked in so much that I don't know if it hurt or not", he said. He was released from a rehab center Friday, and now must wait for his leg to fully heal before he can be fitted for a prosthetic. "You want to survive and you do what you need to do to survive, I guess".
Following the DIY surgery, Kaser crawled 150 foot to his house to call 911 before being taken to hospital. "This is not good at all, '" Kaser told KETV.