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Text: ELENA PEREZ
2020 is drawing to a close, and large hardware manufacturers plan to release new products before the holidays. At the same time, the cryptocurrency mining market continues to expand rapidly under various circumstances. At the same time, the cryptocurrency mining market continues to expand. The following is what graphics cards are provided by manufacturers on the market, and what coins are suitable for mining these newly listed graphics cards?
Bitcoin or Ethereum?
There will be no major changes in 2020 in terms of choosing graphics cards by mining cryptocurrencies. Most graphics cards support Ethereum and its branch coins. As for Bitcoin (BTC), special equipment and low electricity bills were needed a few years ago to reduce mining costs, and general equipment is basically not available for mining.
Especially after the difficulty was halved in May, Bitcoin mining revenue was cut by half. And the current difficulty of mining continues to increase. By September, at block 649,152, the difficulty of mining rose to a record high of $19.31 trillion.
As a result, many mining equipment (such as Antminer S9) have become obsolete. The most profitable miner became the Whatsminer m30+ from the Chinese company MicroBT, which can provide a hash rate of up to 112 terabytes per second, bringing in profits of slightly more than $8.50 per day; Bitmain’s Antminer S19 Pro, ha The Greek rate can reach 110 terabytes per second, and the daily profit is slightly less than $8.50. But these miners are quite expensive: Whatsminer M30++ is priced at US$1,800, and Antminer S19 Pro is priced at US$2,407.
When it comes to ether and its branches, graphics card mining has become popular again for a variety of reasons. First, in the past two years, Ethereum’s hash rate has dropped by 15% (compared to August 2018) and is currently 256.221 TH/s. This means it is easier to mine Ethereum now.
Secondly, mining Ethereum requires lower graphics cards. For example, the Nvidia 1050 Ti released in October 2016 and the Radeon RX 580 released in April 2017 are still available. And with the introduction of new graphics cards, the prices of old graphics cards have been declining, which encourages many miners to return to the market. More importantly, from the beginning of 2020 to September, the price of Ethereum has tripled, which makes mining Ethereum more profitable.
There is another reason to attract miners: it is expected that Ethereum 2.0 will arrive before the end of the year. A spokesperson for WhatToMine told Cointelegraph that not only this year, but even 2021, the demand for Ethereum will be strong.
“In this cycle, we can expect the further development of DeFi projects, which in turn makes the ETH network more and more popular. As the overall trend of ETH rises, GPU miners will also favor Ethereum more.
What graphics card to buy?
At the beginning of the year, Cointelegraph tested the graphics cards of the two largest manufacturers, Nvidia and AMD. Nvidia graphics cards have better mining performance. But considering that the era of ETH2.0 is coming, it cannot be said that AMD graphics cards are inferior, because the company’s Vega and RX generations are still very suitable for Eth algorithms.
Of course, the manufacturer is not important, the most important thing is the return on investment, because any mining must first buy a mining machine, and then there is a profit. Now a standard miner requires six graphics cards. Therefore, if you buy nvidiartx2080ti graphics cards with 8gb or 11gb RAM memory, the initial investment will be more than $9,000. But what if I can’t afford top graphics cards and want to mine Ethereum? In fact, you can consider buying the following graphics cards for less than $400.
Nvidia GTX 1660 Super
The graphics card was released in October 2019 and is not too outdated. The graphics card has 6 GB of memory and Turing architecture. Compared with GTX 1660, it can execute more clock frequency and save power. It is 20% more efficient than GTX 1660 for mining. The price of the graphics card ranges from $240 to $250.
AMD Radeon RX 5700 and RX 5700 XT
In the summer of 2019, AMD introduced the RX 5700 series of graphics cards to the market. These graphics cards use fin field effet (FinFET) technology. Due to the reduced size of electronic components and reduced current consumption, better energy efficiency can be obtained when mining.
RX5700 is 8GB of GDDR6 memory and 180 watts of power consumption. The power consumption of the RX 5700 XT is 225 watts, but the base frequency is also 10% higher than that of the RX 5700 model. The price of these graphics cards is about $400.
Nvidia RTX 2060 Super
The performance of the RTX 2060 Super graphics card is average, and it is no different from the RTX 2060 except for its 8 GB of memory. Fortunately, it uses five different algorithms at the same time-GrinCuckarooD29, GrinCuckatoo31, DaggerHashimoto, X16Rv2 and BeamV2- to make it more stable, safe, and suitable for mining.
In fact, this is an intermediate option between RTX 2060 and RTX 2070, which can be found online for only $399. The RTX 2070 is priced at around US$530, and it is still available for the price difference of US$130.
AMD Radeon RX 580
AMD’s RX 580 was released in 2017, and it is still one of the best graphics cards on a low budget, with prices ranging from $180 to $230. This graphics card mainly digs Eth, with 8 GB of memory, the advantage is low power consumption. The only potential competitor may be the RX 570, but the RX 570 only has 4 GB of memory, and it is expected that it will no longer be able to mine ether after 2021.
Nvidia has a series of graphics cards dedicated to crypto mining. The Nvidia P106-100 “Mining Edition” is based on the Nvidia GP106 GPU (Geforce GTX 1060), which is almost the same as the regular Geforce GTX 1060, but slightly modified. P106-100 has no video output, no rear panel, and the card is equipped with 6 GB of memory.
The “mining version” in the name does not mean that the new product has better mining properties than conventional products, but because it is specifically designed for miners, all unnecessary things have been deleted, so its price is only It is $320, which is $170 cheaper than the GTX 1060.
So, which one is best to buy?
It depends on the time to recover the cost of mining? The best graphics card now is Nvidia RTX 2080 Ti. If you mine Ethereum, your daily income is about $1.66. If you buy this graphics card for $1,400, it is roughly estimated that the payback time is 28 days, which does not include the electricity bill.
Calculated according to this model: Buying Nvidia GTX 1660 Super costs 240 US dollars, can earn 0.65 US dollars per day, and it takes 12 months to pay back. Buying AMD Radeon RX 5700 XT costs US$400, earning US$1.56 a day and paying back 8.5 months.
Buying the Nvidia RTX 2060 Super costs US$399, which means you can earn US$0.92 per day, which is about 14 months to pay back. Buying a Radeon RX 580 costs US$200, earning US$0.96 a day, and the payback is about 7 months. Buying the Nvidia P106-100 mining version costs $320, which can earn $0.85 a day, and payback in about 12 months.
Of course, this is not accurate, it is only estimated at the current difficulty. However, as the encryption algorithm continues to become more difficult, the difficulty of mining will gradually increase, which will cause the graphics card to pay back longer.
Is there a new card now?
Considering the stimulus of decentralized finance, the upsurge of cryptocurrency has reappeared, and the graphics card market may usher in a wave of development. In September, Nvidia released a new generation of GeForce RTX 3000 graphics cards. Some people say that it can produce 81-89 MH/s during Ethereum mining. The higher-end model GeForce RTX 3090 is expected to exhibit 120-122 Mh/s efficiency. If this is the case, then Nvidia may face a situation of out of stock, because the miners buy all the graphics cards, and gamers may not be able to buy them.
Of course AMD is not lagging behind. It will launch the Radeon RDNA 2 series at the end of October, which will directly compete with Nvidia’s 3000 series.
The introduction of the new graphics card has aroused great interest in the mining industry. Andrej Škraba, marketing director of NiceHash (a cryptocurrency mining and trading platform), is confident that the technological innovations of AMD and Nvidia will bring higher productivity:
“Nvidia has just launched the 3000 series, but the current availability is very low. The new RTX card will bring a higher hash rate, and the miner will upgrade the 1060 it uses and the old AMD card (480/580). We also We need to wait for AMD’s announcement to see what they will bring to the market.”
Write at the end
In fact, for ordinary people, the mining machine market is very deep. If you don’t know enough about the market, it is easy to fall into the trap. For example, if you buy a 4G graphics card mining machine for mining now, you may not be able to mine after 2 months. If we don’t understand, we may fall into this trap, and the operation and maintenance of Ethereum is more difficult than that of Bitcoin mining machines. Droppings and mining machine failures are all daily routines. People who do not have certain experience Never buy a mining machine.
The emergence of cloud computing power solves a series of pain points. Users directly purchase cloud computing power, which is equivalent to leasing platform mining machines, and hand over a series of complex operation and maintenance to the platform. During the contract period, investors have The right to use the mining machine and the right to profit only need to pay management fees to the platform, and you can easily harvest ETH every day.