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Nvidia RTX 3080 – Cryptocurrency Mining Review 2021

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rtx 3080 mining

Nvidia RTX 3080 Graphics cards are making rounds today due to their immense cryptocurrency mining capabilities. These newer graphics cards by Nvidia are powerful and energy-efficient. You might have read about miners building a cryptocurrency rig of 78 RTX 3080 GPU.

Do you know with a single RTX 3080 GPU, you could earn $100 per month in profit? But, today, it has even become harder to grab RTX 3080 at its MRP. If you have the opportunity to buy this graphics card for mining at its MRP, it would be the most profitable GPU mining card.

The Nvidia RTX 3080 was launched in Q2 of 2020 at the base price of $699. But, due to much demand and less supply, it is sold above $1000.

With all, this I would like to take a moment to review Nvidia RTX 3080’s Mining Performance & how it stacks up today.

With all this, I would like to take a moment to review Nvidia RTX 3080’s Cryptocurrency Mining.

Nvidia RTX 3080 – Every Cryptocurrency Miners Dream

RTX 3080 cards have been so popular with the miners that the cards are bought at the price of $1000. No matter what, the miner is going to recover its investment in no time. With Bitcoin making all-time highs and Ethereum for the first time above $1000 in two years has caused lots of attention.

There were instances where scalpers bought RTX 3080 and started mining. It has either been out of stock on Amazon else sold for an absolute high price. No matter what the price the graphics card is sold, it is still profitable.

The graphics card has 10 GB of GDDR6X with a 320-bit of memory interface. The GPU has been built upon Nvidia’s Ampere Architecture that packs 8704 CUDA cores. The base & boost clocks are 1.44 GHz & 1.7 GHz, respectively.

We could see that it can perform better on various cryptocurrency mining algorithms due to its 2nd Gen RT Cores & 3rd Gen Tensor Cores. The card has been built upon 8nm architecture.

Nvidia RTX 3080 Mining Hashrate

The graphics card is better at almost every mining algorithm. You can say it’s currently the only graphics card that is currently dominating in hashrates. However, there are 10s of mining algorithms but only a few dominate. Hashrates on mining algorithms like Ethash, Cryptonight, Equihash, etc., could be the best way to know the performance on any particular GPU.

So, let’s have a look at the RTX 3080 Mining Hashrate –

Mining AlgorithmHash RatePower Consumed
Ethash91 MH/s260W
Zhash148 Sol/s250W
CuckooCycle14.3 H/s250W
KawPow39.5 MH/s250W
Beam46.5 H/s250W
Octopus77 MH/s250W
GrinCuckatoo320.845 G/s250W
GrinCuckarood2915.465 G/s250W

Currently, it can be said that RTX 3080 gives the best Ethereum hasharate. You can receive about 90 MH/s on Ethash & is currently the best profitable algorithm to mine. Take a look at our 6 GPU RTX 3080 mining rig that we built.

Payback Period

The payback period could be kind of tricky right now as the card is currently not available at MRP. But even though we consider the MRP if $699, the ROI would be 4 to 5 months.

The RTX 3080 gives a profit of $180-$200 per month, which should not take us more than 5 months to get our return on investment.

Today the Ethereum trades above $1000, which makes it easier to mine and generate profit. If this current bull cycle last, we could see ETH above $2000, which may further lead to a lower month of ROI.

You would generate about $6.15 per day of income, from which $0.58/day would be your electricity cost. If we deducted the electricity and calculate the monthly profit, it would be $198.

Price of RTX 3080 = $698

Monthly Profit = $198

ROI =  Price of RTX 3080 / Monthly Profit 

So, 

ROI would be = 3.53 Months

What To Mine With RTX 3080

There are several coins that you could mine with RTX 3080. Ignoring Ethereum or Ethash algorithm, you could take a look at Octopus Algorithm. It is certainly a newer algorithm but could be an alternative to Ethereum if you don’t want to mine that.

The Octopus algorithm includes coins like Conflux (CFX); else, you could start mining it with Nicehash. Other cryptocurrencies that I can think about are Grin& Ravencoin.

Conclusion

RTX 3080 is a powerful graphics card to mine with. It can not only give the highest mining hashrates but the highest output. By buying RTX 3080, you would not be at a loss. That is a guarantee.

You could always sell the graphics cards to the gamers, and they are ready to buy them.

So, if you think you could not continue mining, you can sell it.

In 2019-2020 people thought that GPU mining was dead, but look at 2021, people are today dying to set up a mining rig. As most miners hold their coins, you could also follow them and sell them when the coin is at the highest point.

But remember, every year, a newer graphics card would be released and would be better than ever. RTX 3080 is just that card for now.

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