Here’s the deal:
When it comes to mining cryptocurrency, it’s important to buy a powerful GPU with a high hashrate. Hashrate and power consumption ultimately determine mining profitability. For more information regarding cryptocurrency mining, check out our guide.
Best Mining GPUs
|AMD Radeon R9 295X2||
|AMD Radeon RX 480||
|NVIDIA GeForce GTX 1070||
|AMD RX Vega 56||
|NVIDIA GeForce GTX 1080 Ti||
|AMD RX 580||
|AMD Radeon HD 7990||
The AMD Radeon R9 295X2 is one of the best mining GPUs on the market. Boasting an ETH hashrate of 45 MH/s and drawing 500W from the wall, this GPU is the most powerful Ethereum miner on the market.
The 295X2 has 8GB of dedicated video memory, which is crucial for ETH mining. As time goes on, the amount of dedicated video memory will steadily increase, so it’s important to buy a GPU like the R9 295X2 that has a lot of memory.
If you want to generate serious revenue mining Ethereum, consider running multiple R9 295X2 GPUs in an Ethereum mining rig.
The R9 295X2 is also a proficient Monero mining GPU. You’ll be able to profitably mine various cryptocurrencies with this card.
The AMD Radeon RX 480 is one of the most profitable Ethereum mining GPUs on the market as of now. Ethereum is a profitable cryptocurrency to mine, meaning the Radeon RX 480 is a worthy investment.
The RX 480 has an Ethereum hashrate of around 25 MH/s and draws 150W from the wall. Even though it has a lower hashrate than the R9 295X2, it also has a lower power consumption. The R9 295X2 is a powerful miner, but you’ll end up spending more on electricity with that card.
The RX 480 provides a great balance of power and efficiency, both of which are important traits of a cryptocurrency mining GPU. The RX 480 is also great for mining Monero, ZCash, etc.
The GTX 1070 has a hashrate of around 30 MH/s. This is one of the best cryptocurrency mining GPUs because it has a good balance of hashrate and power consumption, only drawing 150W from the wall.
Unfortunately, the GTX 1070 is an expensive GPU. Although it’s easily one of the most profitable mining GPUs on the market, you’ll have to invest upfront. However, in the long run, this GPU is well worth the investment. If you’re able to run multiple GTX 1070 GPUs in a cryptocurrency mining rig, you’ll make a killing.
Remember, you’ll make more money if you mine where electricity is cheap. That’s why the majority of cryptocurrency mining is done in China. On the other hand, the GTX 1070 is a profitable mining GPU no matter where you live.
Out of the box, the AMD RX Vega 56 gets around 36 MH/s.
The RX Vega 56 performs well, but compared to other GPUs on the market, it probably isn’t worth your money. As of now, the Vega 56 is quite expensive. Moreover, it draws a considerable amount of power, making it an expensive GPU to run 24/7 in a mining rig.
If you already have an RX Vega 56 for gaming, it is definitely a profitable way to mine cryptocurrency. However, if you are already in the market for a new GPU, particularly for cryptocurrency mining, I’d recommend choosing one of the more profitable alternatives in this list.
The NVIDIA GeForce GTX 1080 Ti is the most powerful gaming GPU on the market today. In addition, it’s also a proficient cryptocurrency mining GPU. In fact, the GTX 1080 Ti can achieve around 32 MH/s if you tweak the right settings in the BIOS. The GTX 1080 Ti also boasts 11 GB of dedicated video memory (VRAM), which is very impressive.
On the other hand, the GTX 1080 Ti is one of the most expensive GPUs on the market. You’re better off choosing one of the GPUs mentioned higher up on this list, as they’re cheaper and consume less electricity. The GTX 1080 Ti draws around 180W from the wall, a bit higher than more efficient mining GPUs.
Click here to read more about the GTX 1080 Ti’s mining capabilities.
The AMD Radeon RX 580 is a great cryptocurrency mining GPU. Although its younger brother – the RX 480 – is slightly more profitable, the RX 580 is still a profitable mining GPU. Moreover, the RX 580 is usually easier to find than the RX 480.
With the 580, you’ll be able to achieve 24 MH/s out of the box, while drawing 136W from the wall. If you tweak RX 580’s settings in the BIOS, you’ll be able to achieve 29 MH/s while drawing 156W from the wall.
This video does a great job showing you how to maximize your mining profits with the Radeon RX 580:
For more information regarding the RX 580’s mining performance, read our RX 580 review.
The AMD Radeon HD 7990 is a good budget mining GPU.
The HD 7990 achieves 36 MH/s while drawing 375W from the wall. It’s not quite as profitable as the Radeon RX 480 or the GTX 1070, but it still gets the job done. The card has three fans as opposed to just two, which allows for superior cooling.
It’s important to note that the HD 7990 is a long graphics card – make sure the GPU fits in your case before you buy it! If you’d like the best cooling possible, considering mounting your GPUs in a cryptocurrency mining rig rather than inside a traditional case. The rack mounts allow for better airflow, and they have more space for multiple mining GPUs. The more GPUs you have, the more profitable your mining operation will be!
Popular Cryptocurrencies to Mine
|Bitcoin||View our Guide|
|Litecoin||View our Guide|
|Ethereum||View our Guide|
|Monero||View our Guide|
|Dash||View our Guide|
|ZCash||View our Guide|
|Decred||View our Guide|
|Vertcoin||View our Guide|
|Zencash||View our Guide|
Cryptocurrency Mining Profitability
Mining cryptocurrency is not as profitable as it was back in January of 2018 – the cryptocurrency market has retraced around 50% from where it was just 6 months ago.
Although, that does not mean mining cryptocurrency is not profitable. With the right mining hardware, you can still generate passive income by mining cryptocurrency.
Take a look at your projected earnings with a Radeon RX 480:
We’re in the midst of a bearish market. Once the bulls return – and they will return – the crypto market cap will increase once again, and cryptocurrency mining will be even more profitable. It makes sense to acquire as much cheap cryptocurrency as you can while there’s still time!
Bitcoin Mining GPU
If you’re interested in buying a GPU for Bitcoin mining, I regret to inform you that you can’t mine Bitcoin with a GPU. Once Bitcoin mining ASICs were developed, Bitcoin’s mining difficulty skyrocketed. If you tried mining Bitcoin with a GPU, you’d never turn a profit.
If you don’t believe me, input any GPU’s Bitcoin hashrate and power consumption into this Bitcoin mining profitability calculator, and see for yourself.
Don’t get discouraged – you can buy a Bitcoin mining ASIC to profitably mine Bitcoin!
Cryptocurrency Mining Pools
If you’re interested in maximizing your mining profits (why wouldn’t you be?) then you should participate in a cryptocurrency mining pool. There’s strength in numbers, especially when you’re mining.
Rather than trying to mine on your own, you can combine your hashing power with a bunch of other miners’ hashing power. Then, all of you work together, which increases your odds of successfully validating a block.
Once a block is verified, you receive a cut of the block reward that is proportional to the computational power that you contributed. For example, if you were responsible for 40% of the computational power, you’d receive 40% of the block reward, after pool fees.
Here are some popular mining pools to consider:
If you’d like to understand why the majority of Bitcoin mining is performed in China in huge mining farms, click here.