Crypto mining is an extensive process that requires high computational and graphic processing power. You need to mine for hours before you can make money. While people usually think that an expensive GPU would get the job done, this is not entirely true. You need a GPU that can run for longer hours, maintain lower temperatures and consume as little electricity as possible. Not to mention a high hash rate which would help you to mine more. If you are new to the mining business, investing a huge sum of money into a top end card is not the best decision. It would not only increase the initial cost but would also not offer the best returns due to its high value.

What is the most effective GPU for mining?

NVIDIA GeForce 3060Ti:

NVIDIA GeForce 3060 Ti is a popular and one of the most sought after graphics cards, both for gaming as well as mining. With an affordable price, this graphics card can help you set up your mining business easily. It has a 1 to 8 pin connector and a 200W TDP which makes it highly energy efficient. It also has a hash rate of 60MH/s which allows for very decent processing power. All you need to do is plug it in and you are good to go.

AMD Radeon RX 5700 XT:

AMD is another company that produces equally good graphic processing units. The AMD Radeon RX 5700 XT is a flagship product and gives tough competition to all of its other counterparts. It has a hashrate of 54 MH/ s which can mine at a similar if not exact rate when compared to NVIDIA GeForce 3060Ti. However, it is not the most efficient GPU setup and you might encounter heat issues if you perform mining for prolonged hours.

NVIDIA GeForce RTX 2070:

Although the NVIDIA GeForce RTX 2070 belongs to an older generation of GPUs, it has both its pros and cons. Starting with the good stuff, all top end Nvidia GPUs are known for their efficient energy consumption and heat management, same is the case with this one. In addition to this, you can easily find yourself a discount deal because it’s an older version which makes it value for money. The only downside of buying the RTX 2070 is a lower hashrate. But the overall performance and low cost makes up for that. If you are looking for some passive income from mining without investing too much, this is an ideal choice.

NVIDIA GeForce RTX 3090:

NVIDIA GeForce RTX 3090 is the most amount of performance money can buy. It is the latest and most powerful GPU launched by Nvidia and is considered to be the best up until now. It not only has a very high hashrate, 121 MH/s to be exact, but also has 24 gigs of memory. Installing this in your mining setup means ultimate performance. But all of this comes at a cost. Plus, you need to have a proper cooling setup installed in your mining rig if you want to mine with NVIDIA GeForce RTX 3090.

AMD Radeon RX 580:

If you are operating on a low budget or just want to experiment with mining, AMD Radeon RX 580 is a great card to start out. It has a fairly low price and you can also find used cards on online marketplaces. Even though it has a very low hashrate it can generate consistent profits due to low energy consumption.

What should you do after buying a Graphics Card?

First things first, once you have bought the graphics card of your choice remove all pre-installed drivers from your pc and discharge static. Next up, remove the old graphics card from your computer and replace it with the new one. Connect the power supply and all cables, install the drivers needed and you are good to go.

How many GPUs should I use for mining?

While there is no specific rule or number of GPUs that you should use for mining, it is a common practice to install 6 GPUs in a rig. However, this can change according to the kind of investment you want to make.

Can Mining destroy the GPU?

Mining involves solving complex problems and processing large blocks of code. When done for long hours, your GPU produces large amounts of heat energy which can impact the health of GPU and other components such as the processor and the power supply. Therefore, there is a chance of your GPU getting destroyed if you are unable to maintain temperatures and provide effective cooling to your rig.

What are the disadvantages of using Graphics Cards to Mine Cryptocurrency?

There are a number of issues that you might encounter while you use a graphics card for mining cryptocurrency.

Problem 1: Excessive Heat

Mining requires high computational power and therefore puts a lot of stress on the hardware. As a result, an excessive amount of heat energy is produced that leads to overheating if not addressed properly.

Problem 2: Noise

After some time of mining, you might experience a change in the overall noise profile of your PC. While graphics cards are very noisy already, there are chances of it to further increase with time.

Problem 3: Price of Graphics Card

Ever since mining has become popular there has been an increase in card prices. Due to such high prices, the return on investment is shrinking and the payback period is increasing with each passing day.

Best Way: GPU rental

What if there was a way to have all that computational power without worrying about anything? Yes, I am talking about GPU rentals. You can have a dedicated GPU based server rented and perform mining on it. These servers are powerful enough to not only mine cryptocurrency but also perform machine learning and deep learning tasks.