What’s the best GPU for mining cryptocurrencies?
There are basically two types of people engaged in the cryptocurrency business. There are investors whose main objective is to make a profit by buying tokens when they’re trading at relatively low prices and then selling them later when their prices have climbed higher. And then there are the miners, those who don’t really don’t need those exchanges to get their hands on some tokens. With patience and perseverance, they slowly accumulate tokens over time in a mysterious process called crypto mining.
If you belong to the second group or at least planning to become one, you might have already heard something about a GPU, which is just an acronym for graphics processing unit. These are actually computer components generally used to augment the visual output of a computer system. This is commonly used in gaming setups with the aim of improving the gaming experience of a player.
This explains why gamers were pretty angry when a lot of people decided to try their hands on crypto mining. Since mining also requires a powerful GPU, the sudden surge of mining activity inflated GPU prices to ridiculous levels; there is simply not enough GPU supply to meet the demands of both gamers and miners.
Crypto mining needs a lot of computing power to create tokens. This is the reason why a mining computer should have a GPU installed so it can be powerful enough for the mining operation to churn out digital currencies at the shortest possible time.
However, there is also one other important factor to consider when you mine cryptocurrencies. Aside from computing prowess, your system should be as efficient as possible to minimize your electric bill. After all, cryptocurrency mining is still a business concern; at the end of the day, the value of all the tokens you mine should be more than the total expenses incurred to mine them.
In other words, you need to minimize your electricity consumption which can be achieved if you choose the right GPU. The reason why the GTX 1080 Ti, considered one of the best gaming GPUs, won’t cut it in mining. While indeed powerful, the GPU is a power-hungry beast; its electric usage will eat your profits. Here are some of the best crypto mining GPUs currently available in the market.
NVIDIA GTX 1070
The GTX 1070 might not be the best gaming GPU, but it’s just perfect for crypto mining. It has a high hash rate of 30 MH/s while maintaining a relatively low power consumption level of not more than 150 W.
AMD RX 580
The AMD RX 580 is also another good bet for mining. The GPU has an excellent hash rate of 29 MH/s with a power draw of 185W.
Nvidia GeForce GTX 1060
While not the most powerful GPU, the Nvidia GeForce GTX 1060 can provide a good mining performance. In addition, it is also a good gaming card so, if your PC is not solely used for mining action, you can get this GPU and have some gaming fun as well.
AMD Radeon RX Vega 56
Not only will it give you a good mining performance it’s even cheaper than the GTX 1070. It has a relatively higher power draw at 210W TDP but, since it excels the GTX 1070 in both mining and gaming performance, it’s still considered a good buy.