Crypto mining has turned PC gaming into an unaffordable luxury for many unfortunately, and there’s no denying the fact that it’s unfair. Thousands of graphics cards never even reaching the shelves because they are being bought by the dozens for crypto mining doesn’t hurt the sales though. This is why it’s a continuing process which is hurting the gaming industry.
Nevertheless, there is a reason as to why so many companies and even individuals are investing so heavily in buying multiples of these expensive GPUs and that reason is quite simple, they stand to gain a lot more than they are investing. While crypto mining isn’t as profitable as it used to be, there’s still some profit in it for those who know how to go about it intelligently and until the dedicated mining cards hit the market, the following five are your best bet at generating a decent hash rate.
AMD Radeon RX580
One of the most popular mining GPUs from the past year, the AMD RX 580 is popular because it’s cheaper than the GTX 1070 but is capable of providing almost the same hash rate. The drawback here is that the AMD card consumes quite a bit more power than the GTX 1070. Even then, the GPU is a hit among miners and it never seems to be in stock because of that. The cooling is particularly good on the RX 580, considering that it’s an AMD card.
Some miners consider the RX 480 to be a better deal than the newer RX 580 because it draws less power at just 150-watts and the difference in hash rate as compared to the RX 580 is minimal. In the long term, this card might just prove to be a better deal for crypto miners, especially given the cheaper price and low power requirements. The only issue is that it’s very hard to find, especially the 8 GB variant (there’s also a 4GB variant). And it’s only going to get more difficult as the newer models gain in popularity, so scoop these up if you want them now!
Also, the RX 480 will not run as cool as the RX 580 without appropriate external cooling solutions.
What makes the RX Vega 56 so special is the fact that it delivers one of the best price-to-performance ratios in the market as far as mining GPUs are concerned that you ought to be aware of. It’s even more efficient than the fan-favorite GTX 1070. But all that performance does come at a cost. By cost, we don’t mean the price because while it is more expensive than the GTX 1070, the increased hash rate is worth the extra money. However, the card is extremely power-hungry with a draw of over 200-watts!
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Even if you can get past the power usage, the RX Vega 56 is not ideal for building a big multi-GPU crypto-mining rig as it gets very hot, especially after prolonged use. It’s still a great buy, mind you, for small-scale miners. So keep that in mind when determining which of these options to buy.
The GTX 1070 is like that perfectly well-rounded gentleman that every girl wants to meet. Every miner and gamer want this card badly and because of that, the GPU is now just as rare as those perfect gentlemen that exist only in dreams! Gamers want the GTX 1070 because it provides unparalleled performance for the price, running games at high frame rates (unless you are talking ultra-settings at 4K of course). Miners want the GTX 1070 because it’s the best price-to-performance card till date. The 1070 doesn’t consume too much power either and it runs as cool as a high-end GPU possibly can under stress. If it wasn’t for the unavailability pushing the prices upwards, the GTX 1070 would have been the default go to GPU for both gamers and miners.
The final card on this list is the GTX 1080 Ti, which is a monster of a GPU. Gamers know it as the first true 4K-capable graphics card that can run even some of the most demanding games at ultra-high settings and 4K resolution. With a power draw much below the RX Vega 56 and a higher hash rate, the GTX 1080 Ti is the undisputed king of GPUs for everyone. Of course, if the Nvidia Turing is released in August, it may no longer remain the king, but as of now, you cannot replace a GTX 1080 Ti with anything else. It is very expensive and rare though, but in spite of all the power it harnesses for the miners, the 1080 Ti runs cooler than one would imagine.
The real money is now in trading rather than mining. It wasn’t easy at one point for many of us to join in on the action and trade in cryptocurrencies because of all the confusion that surrounded the cryptocurrencies in countries such as Australia. However, that changed when groups like Coinspot entered the Australian market and made it possible for anyone to buy and sell Bitcoins with Australian dollars. To know more about them and the process of signing up, check it out on Cryptohead.io.
And finally, one point that people often forget lately is that most of the individuals who became rich in a matter of days during the rise of the cryptocurrency were involved in trading the likes of Ethereum, Bitcoin and Ripple, not mining them. Over time, mining may even become obsolete as a business, but crypto trading is not going anywhere. You just might have to change what and how you trade.