Ethereum is the second most know cryptocurrency today after Bitcoin. Many of them keep on asking how to mine Ethereum? Even if you know the basic mining – then next question would be which is the best card for ethereum mining?
Keeping questions like – best ethereum mining hardware & software, we have compiled this article for you.
Being decentralized assets, cryptocurrencies open up a lot of possibilities. Primarily, you have the option to invest in it or trade it. But in case of a mineable cryptocurrency, you can take a more active role and mine that cryptocurrency.
Mining can be a very profitable side hustle if done properly. By mining the cryptocurrency you are not only making some quick bucks but you are also helping the cryptocurrency. As the mining process verifies and adds transaction blocks to the public ledger, and create new currency units.
Ethereum is the 2nd most popular cryptocurrency in terms of raw market capitalization. Ethereum is just after Bitcoin and has over $57 billion USD worth of market cap. Currently, one Ether or ETH equals to about $587.
So this makes Ethereum one of the best cryptocurrencies to invest in right now. Ethereum is also a good cryptocurrency to mine. Because it is ASIC resistant – so you will be competing against other GPU miners.
If you have not taken a look at our best ethereum mining rig. This article will guide you to build your own Ethereum Mining Rig!
BEST GPU FOR ETHEREUM MINING
Now let’s talk about the graphics cards I suggest mining Ethereum with. These cards are the best in the market. In terms of raw performance, payback period and resale value.
I have placed the cards in an ascending order of price to performance ratio. So the last card has the most potential and a shorter payback period.
We will kick off our list with one of the recent launches from the green team. It’s none other than the GeForce GTX 1070 Ti. Nvidia promoted this a budget gaming card between the GTX 1070 and GTX 1080.
But we know for sure that this is a direct competitor to the AMD RX Vega lineup. The RX Vega models are hands down one of the best graphics cards launched in 2017. They perform exceptionally well in both graphics related works and mining.
The GTX 1070 Ti features Nvidia’s Pascal architecture. The onboard graphics chip has 2432 Nvidia CUDA cores. The GPU has a base clock frequency of 1607Mhz. And this can boost up to 1683Mhz.
The GTX 1070 Ti comes in one variant only. It has 8GB GDDR5 memory with a 256-bit memory interface. So the memory is capable of providing 256 GB/s bandwidth. The actual memory speed is 8Gbps.
Undoubtedly, the GTX 1070 Ti performs very good in graphics related tasks. But let’s find out how good is it when mining Ethereum.
Turns out this card is not really an improvement over the stock GTX 1070 when it comes to mining Ethereum. It can mine Ethereum at a hash rate of 30.5 Mh/s. And for that, it consumes up to135 watts of electricity.
So considering the current price of Ethereum and difficulty you are going to make about $1.15 in profit per day. Nvidia launched this graphics card for only $450. But right now the pricing is totally insane. So expect to pay at least $250 – $300 more for this.
* Estimated mining is calculated over here is while the market is at the dip!! I was able to get about $2 when the market was on the bull side!
The next entry in our list is GTX 1070 Ti’s younger sibling, the GTX 1070. This budget gaming card is an all-time favorite of Equihash miners. But can it mine Ethereum with the same effectiveness? Let’s find out!
This card is also based on Nvidia’s Pascal architecture. So expect top class performance with lower power draws.
The GPU has 1920 CUDA cores. Which means it has 512 fewer CUDA cores than the GTX 1070 Ti. The base clock is set at 1506 Mhz. And the boost clock can go up to 1683Mhz. But usually custom models will overclock even further.
This card uses the same memory interface as the GTX 1070 Ti. So you are getting 8 gigs of GDDR5 memory upon a 256-bit memory interface.
As I have mentioned above the GTX 1070 Ti is not really an improvement over this card when it comes to mining Ethereum. You will be getting 30 – 30.5 Mh/s hash rate with this graphics card too. But the power consumption is a bit lower than the 1070 Ti.
Considering the current difficulty and price of Ethereum, you will be making about $1.15 profit every day. Which means you are going to make about $35 a month. Of course, if the price of Ethereum remains the same.
Originally Nvidia launched this graphics card for $400. You will still be able to find the founder’s edition on Nvidia website for that price. But the quantity is capped at two units per customer. So it’s not particularly good for miners.
On e-commerce platforms like Amazon expect to pay $100 – $150 extra for this card. This will make the payback period somewhere around a year and two to three months.
At the second place, we have one of the most popular graphics cards for mining Ethereum. The AMD RX 570 is a refresher of their RX 470 model. The RX 470 model was and still continues to be a huge hit among miners.
Launched in 2017, the GPU onboard RX 570 has 2048 stream processors. For most partner cards the base clock is somewhere around 1300Mhz. While the boost clock can be somewhere around 1310Mhz.
There are two variants of this card – 4GB variant and 8GB variant. For most cases, the four gigs card will be enough. You will be getting 4GB GDDR5 memory with a 256-bit memory interface.
This card is able to mine Ethereum at a hash rate of 28 Mh/s! And immediately you can feel how cost-effective this card is while mining Ethereum. And that is the reason why it is so popular among budget miners.
The power draw is also minimal. You are looking towards a power draw of about 120W.
That is why this card is able to make about $1.2 in profit per day. So the card will take about a year to pay itself back.
At the top of your list, we have the ultimate budget king – the RX 580 from AMD. AMD cards have shown great potential when it comes to mining Ethereum. And this card is not an exception either.
This card is an updated version of AMD’s extremely popular RX 480 graphics card. AMD launched this card in 2017 to replace the old RX 480. The RX 580 is built upon AMD’s Graphics Core Next architecture.
The GPU has 2304 stream processors. AMD stream processors are comparable to Nvidia CUDA cores. So the more the merrier! The card is available in an 8GB model with a 256-bit memory interface.
Although the gaming performance is satisfactory, the Ethereum mining performance of this card is more than satisfactory. Personally, I have been able to achieve as high as 30 – 30.5 Mh/s hash rate while mining Ethereum. For a card that is effectively at least $300 cheaper than the GTX 1070 Ti, it is quite impressive!
Considering the current market price, the payback period will be within a year. So the card will pay itself back within a year of operation if Ethereum’s price remains the same. But expect a shorter payback period since I expect Ethereum’s price to increase.
Before we end this article let us summarize the information in tabular form.
|Graphics Card||Hash Rate (Mh/s)|
|Nvidia GTX 1070 Ti||30.5|
|Nvidia GTX 1070||30|
|AMD RX 570||28|
|AMD RX 580||30|
So as you can see RX 580 from AMD is the best choice when it comes to mining Ethereum. The next best thing would be the RX 570. If you are going to mine Ethereum then, in my opinion, you should completely avoid Nvidia cards.
I hope you liked this informative article. Please let us know your thoughts down below in the comments section.