Cryptocurrencies are all the rage in 2021. The mining of these coins has quickly become one of the most profitable industries worldwide. In reality, mining has caused a lot of issues for consumers and governments all around the world.
First of all the sheer electricity needed to mine these coins can take a large toll on the electricity grid and power generators in a country. It is estimated that current mining efforts use as much electricity as the whole country of Argentina!
But that is not all, mining has a huge environmental impact as well as a strong impact on the prices of chips and computer hardware. The mining of Ethereum has almost singlehandedly raised the price of Graphics cards by over 150%! And extraction of coins like Chia has done the same to SSD drives and hard drives.
But let’s say you still want to mine coins for their profitability. What hardware should you pick and why?
Important to know
Nvidia is trying to “combat” excessive mining by switching most of its cards to LHR. These “Lite-Hash-Rate” cards have lower mining power for mining Ethereum but there are ways of bypassing it or you coils just mine other coins instead.
These cards cost a little bit less on the free market, while regular retailers will sell LHR cards and regular ones at the same price.
Hardware You Should Consider
For most mining operations you will need a powerful GPU. Graphic cards are much better at the calculations that make mining possible so they are far more profitable than some other methods of gaining coins.
Probably the most profitable mining cards right now are the RTX 30 series from Nvidia. Their MSRP is relatively affordable and the sheer power these cards have for mining is unmatched. Of course, this lead most miners to do the same, and so the prices of the 30 series have soared 100-200% above their MSRP. This makes them a tough sell as they need to mine for hundreds of days in optimal conditions just to break even (not including electricity prices).
The best farming cards from the series are the
- RTX 3060/Ti – 198/202 days to become profitable if you can get them for $707 or $916
- RTX 3070 – 263 days to become profitable if bought for $1204
- RTX 3080 – 240 days to become profitable if bought for $1666
- RTX 3090 – 310 days to become profitable if bought for $2620
But the 30 series ain’t the only one you should look into. The RTX 20 series and some GTX 10 series can be great choices as well!
On the other side, AMD has also some compelling GPUs on offer! Here are some of the best ones available:
- RX 570 8GB – 172 days to become profitable if bought for $353
- RX 5500 XT – 215 days to become profitable if bought for $407
- RX 5600 XT – 193 days to become profitable if bought for $555
- RX 6800 – 261 days to become profitable if bought for $1232
Find out more about all of this here:
Tom’s Hardware, CryptoTrader
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