You may have pointed out that everyone underneath the sun is referring to Bitcoin following its meteoric rise to $30,000. But far less people are referring to GPU mining. Maybe because the notion of turning on your pc and having it magically generate an income feels elusive to you. And maybe because GPU mining and cryptocurrency are thought dirty words to PC gamers.
Especially to PC gamers looking to create their own rig in a retail landscape that's seen the costs of graphics cards from AMD and Nvidia inflate once again to atrocious levels. But also for people who already own a gaming PC, you could be surprised how much cash you can make mining with it, and so just how effortless it is. Back in 2013 when I first began mining, getting a client up and running was a significant challenge.
Basic familiarity with Linux and terminal commands were hard requirements. Nevertheless now it's a snap to have up and running on a Windows PC using software called NiceHash. No command lines, no messy configuration files — although they're there if you need them. Just a tech, some quick auto-benchmarks, and then your GPU extends to work. The software even generates a Bitcoin wallet address for you personally, and lets you start mining automatically whenever your PC is idle.
A fundamental status and profitability overview on Nicehash.com A fundamental status and profitability overview on Nicehash.com JASON EVANGELHO MORE FOR YOU JPMorgan Issues Bitcoin Price Crash Warning After Sudden Bitcoin Sell-Off The Hedge Fund Genius Who Started GameStop's 4,800% Rally Now Calls It “Unnatural, Insane, And Dangerous” Extent Of Bitcoin Bubble Fears Revealed After Huge $200 Billion Bitcoin Price Downturn 3 Important Things About NiceHash Never take any advice blindly. Read these notes before deciding to dive in. First and most importantly, NiceHash doesn't actually use your PC's hardware to mine crypto coins like Bitcoin, Litecoin or Ethereum. Instead, you're selling your PC's hashing capacity to other miners who're mining those coins, effectively adding to a pool's combined power. The reward? NiceHash pays you in Bitcoin at regular intervals. You can then transfer your earnings to a trade like Coinbase and buy crypto coins if that's what you're after, or simply just connect a banking account and cash out. Your hashrate — or the power at which your GPU can mine — is definitely being directed as to the the most popular crypto coin is. It's completely hands-off. Before your first launch or if you update your drivers, the application will benchmark your GPU hashrates for a number of algorithms that correspond with those coins. Then at regular intervals it auto-switches to the most profitable one (to see these by yourself, visit a niche site like WhatToMine.com).
This implies you're maximizing profit without the need to invest amount of time in constant research or speculation. Time is valuable if you ask me, and probably to you. Should you choose need to get seriously interested in mining, NiceHash might not be for you. Users can easily see higher hashrates and thus higher profits when doing things like flashing their GPU's BIOS, using command-line based clients, overclocking and undervolting, and installing alternate drivers. But when you only want to click a key and start generating a gain, NiceHash is the easy button. How Much Can Your GPU Make? So, let's talk money. Radeon ″monogram logo″ from the Radeon VII graphics card Radeon "monogram logo" from the Radeon VII graphics card AMD For the values below, I used the NiceHash Profitability Calculator and assumed a 0.13 USD/kWh electricity cost (the national average in the US as of December 2020), meaning you're seeing profits after investing in the power consumption of that GPU. Your mileage may vary is an exaggeration here. And kudos to you if your electricity costs are cheaper!
The worth of Bitcoin is in constant flux, and these calculations derive from a Bitcoin to USD exchange value of $31,392.98 on January 5, 2021. As the worthiness of Bitcoin climbs, so do your potential profits. The reverse is of course true, so always exercise caution. But it's worth pointing out that 3 years ago in January 2018, 1 Bitcoin was worth “only” about $11,000... All of the GPUs listed below were tested in the company's labs, and are pulled from actual profit numbers from users, not estimated ones. I can personally attest to the accuracy of the Radeon VII, Radeon RX 6800 XT, and RTX 2080 Super estimates. Monthly profit for select Nvidia GeForce cards: Nvidia RTX 3080: $225.90 Nvidia RTX 3070: $138.60 Nvidia RTX 3060 Ti: $136.80 Nvidia RTX 2080 Super: $89.40 Nvidia RTX 2070 Super: $94.50 Nvidia RTX 2060 Super: $95.10 Nvidia GTX 1080 Ti: $107.40 Nvidia GTX 1080: $80.70 Nvidia GTX 1070: $66.30 While I don't advise buying any GPUs exclusively for the objective of mining (costs are much greater than MSRP and your ROI — return on investment — would take quite some time), at this time the RTX 3060 Ti appears to be best overall value. If you'll find one… Monthly profit for select AMD Radeon cards: Radeon VII: $211.20 Radeon RX 6800 XT: $147 Radeon RX 6800: $145.80 Radeon RX 5700 XT: $126 Radeon RX 5600 XT: $85.20 Radeon RX Vega 64: $98.40 Radeon RX Vega 56: $77.70 Radeon RX 580 8GB: $67.80 Yes, believe it or not the Radeon VII is still the compute king. And AMD's last-gen RX 5000 series still puts up excellent numbers.
Even Polaris cards like the RX 480/580 are performing decently, provided they're the 8GB VRAM models. What About CPUs? A good beefy Ryzen Threadripper CPU gets the potential to show a profit. A good beefy Ryzen Threadripper CPU gets the potential to show a profit. JASON EVANGELHO Yes, you should use higher-end CPUs (Nicehash will primarily use these to mine Monero and convert it to BTC), but it'll render your PC unusable for day-to-day tasks.
Unless you're rocking newer AMD Ryzen Threadrippers, the daily profit for most gaming CPUs (less than $0.50) probably isn't worth the hassle. What About Gaming Laptops? You should use NiceHash along with your gaming laptop, but that doesn't mean you should. If it's your only option and you wish to give it a go, I caution against putting both your GPU and CPU to work simultaneously because of thermal and throttling concerns. Many gaming laptops don't have “full-fat” GPUs either. Conclusion Obviously these profit numbers will fluctuate for you personally, especially since you're probably going to utilize your rig and not dedicate it solely to mining. However, if you have an extra GPU you're not using, you can easily slot that into your PC and tell NiceHash to utilize this one and not your dedicated gaming GPU. Better to have it collecting Bitcoin than collecting dust.
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