Best GPU For Mining Ethereum bitcoin

Ethereum is a hot topic these days after having exhibited signs of intersecting and even outpacing the market cap of one of the most established cryptocurrencies; Bitcoin.  It comfortably sits as one of the cryptocurrencies that have gained wide popularity especially in the year 2017. Ahead of it is Bitcoin, which has had one of the most success stories in 2017. This has made mining Ethereum so popular even to those who weren’t familiar with it in the past.

Even though this burgeoning cryptocurrency suffered certain wild volatility sometime in the past, it has been able to recover and progress well. As at now, enthusiasts and hobbyists are looking for means of downloading this blockchain based, open-source currency platform on high-end desktop PCs. By using an effective hardware for mining Ethereum, you can greatly reduce the amount of electricity that you use, which will, in the end, cut down your costs.

Before you buy the Ethereum mining GPU, there are other equally important aspects that you might need. These would be an effective Ether mining pool, as well as an Ethereum hardware wallet that you can use to store your Ether in a secure manner.

Best GPU For Mining Ethereum screen

Defining a GPU Ethereum Miner

To effectively mine Ethereum, a specialized hardware known as Graphics Processing Unit {GPU} will be required.  The intention of the developers of this cryptocurrency was to have it mined on the CPU of a computer but, miners came to discover that GPU presented more hashing powers as compared to computer CPUs. In a more simplified term, a GPU can be best described as a specialized computer for mining Ethereum.

Best GPU For Mining Ethereum motherboard cpu

Before You Buy Them…

There are various types of GPUs in the market right now, but all are not the same. There are some that possess higher hash rates as compared to others. On the other hand, some consume more electricity than others. The most important thing to do when selecting the most effective GPU is to create a balance between how much you are willing to spend on the electricity and the GPU itself, against how powerful you want your rig to be. The costs of GPUs mainly vary by each country. This is due to the fact that most GPUs are merchandised on popular online retail stores like eBay and Amazon.com. Getting a GPU in a country where these retailers ship to will be very easy. For most miners, the determining factor is electricity.

As it has been the case with popular sites cryptos like Bitcoin, miners from certain regions have sowed huge advantages. This is due to the fact that they have affordable electricity.

Best GPU For Mining Ethereum rig

Is It Important To Mine Ethereum?

While it is a fact that mining this cryptocurrency is a lucrative affair, its profitability does not come even near some currency platforms such as Litecoin Mining and Dash Mining. If your main idea of mining Ethereum is to acquire the cryptocurrency, then it would be just wise to purchase it. Mining hardware is not that cheap, and it wouldn’t be easy to turn a profit unless you are mining on a large scale.

Unfortunate enough, the mining algorithm of Ethereum does not support the use of an Application-Specific Integrated Circuit {ASIC}, so regular GPUs become the best for mining this cryptocurrency.

For the Ethereum mining enthusiasts who want to give this venture a shot, here are some of the best Ethereum mining GPUs that you should look for. 

Best GPU For Mining Ethereum

The Radeon R9 295X2

Among all the mining GPUs for Ethereum, the Radeon R9 295X2 boasts of having the highest hash rate. Its hash rate stands at 46 MH/s and is capable of drawing 500-watts of electricity from the wall. With this awesome GPU, you will be sure of pocketing in $586.43 as your annual return. The Radeon R9 295X2 is on sale now and will bring a daily profit ratio of 52%. With the $586.43 annual profit in the back of your mind, it is also very important to note that this GPU has a payback period that slightly exceeds two years. Its power cost per day is about $1.44 that will give about $1.61 as its return per day. Its cost per MH/s is $13.04. This is where the $586.43 annual return is obtained.

The Radeon R9 295X2 has been crowned as the king of the GPUs mainly because of its great hash rate. It is also one of the most profitable choices especially to those who have low energy fare or to those who have free electricity supply, and so you do not have any worry about consumption of power.

One great thing about this Ethereum GPU is that it can be easily obtained on the most popular online retailers, Amazon.

The Radeon HD 7990

This is another excellent budget alternative to the Radeon R9 295X2. It is the second highest in terms of the hash rate among the GPUs for mining Ethereum, of course, coming after the Radeon R9 295X2. The Radeon HD 7990 comes with a hash rate of 36 MH per second, which draws 375 watts of electric power from the wall. Each of these GPUs is estimated to net in a return of $469.40 in one year. Its initial investment, however, is much lower than the R9 295X2. Available at Amazon, this GPU is one of the best cost-conscious alternatives for those who want to mine Ethereum. With 56% as its profit ratio per day, this Ethereum mining GPU has a payback period that slightly exceeds one year. It has a daily cost that is estimated at $1.08, which is evidently lower than the R9 295X2’s. That brings its daily return to $1.29, while the cost per MH/s is $18.89.

Radeon RX480

Because of the 25mh hash rate that it has, this GPU is one of the most affordable choices for those who want to mine Ethereum. The power of the Radeon RX 400 series can never be underestimated and the Radeon RX 480 is not an exception.

Apart from being one of the most affordable GPUs available on the market today, it is also one of the most economical. While only consuming 150 watts of electric power, this CPU presents a hash rate of 25 MH/s.  When compared to Radeon R9 295X2 and Radeon R9 HD 7990, the cost of power for this GPU is relatively low, at only $0.4320. Its cost per MH/s is $7.96, which is quite impressive compared to most GPUs that are currently on the cryptocurrency market. The return per day for the Radeon RX 480 is $1.21, while its return per year is $440.91. On sale at Amazon now, you will have this GPU and begin mining Ethereum without many problems.

The Radeon RX 470

With just 1.0 MH/s of hash rate behind the Radeon RX 480, this is also a great choice for anybody shopping for an effective Ethereum mining GPU. Even though its hash rate {24.0 MH/s} is slightly behind that of Radeon RX 480, both of them share the same power cost per day. With $0.4320 as its daily power cost, the cost per MH/s of this GPU is $9.13. This will bring a daily return of $1.15, which can be translated to $418.16 per year. The cost of this GPU is also very friendly, as it's on sale at Amazon now.

NVIDIA GTX 1070

It can be remembered that around April of 2017, the cards for AMD Rx 4 & 5 series totally sold out leading to a significant rise in price in most markets. Most miners opted to use this GPU, which was affordably available on the market back then.

The NVIDIA GTX 1070 is capable of mining at 30Mh per second while consuming just 100W of electric power. The Gigabyte GeForce GTX 1070 Windforce OC is the best of the models available currently on the market. It operates cooler than most 1070 models probably due to the fact that it is available with a twin fan design. On sale at amazon, you will have this Ethereum mining GPU in your possession.

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Before you opt to start mining this wonderful cryptocurrency, you should be convinced that it is the best thing that you want to do. You should analyze all the necessary investments and related information and ensure that you understand them correctly. Things you need to analyze and comprehend well are like the volatility that has characterized this world of cryptocurrency and getting an ROI after a half a year of being in the business.

While the ROI – Return on Investment can go past a year for the Ethereum mining GPUs that have been mentioned above, it can be reduced if you opt to use more than one GPU. You will not get much by using just one video card to mine, and so deciding to purchase more than one GPU will be the best thing to do. But before you fully venture into that, you should also make yourself aware of the profit your mining rig will bring as well as the amount of money that you will spend on the energy.

Good luck with your mining!

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Last update on 2018-09-20 / Affiliate links / Images from Amazon Product Advertising API