The process of inserting and validating transaction records on the Bitcoin public blockchain ledger while ensuring network uptime is known as mining. This is how the network survives without relying on vulnerable, centralized networks or trusted third parties. Mining is often used to differentiate legitimate Bitcoin (BTC) transactions from double-spending attempts, which occur when a user tries to spend money that has already been spent elsewhere.
What miners are really doing is guessing for a certain number (the nonce) that is defined in the header of the next block, which has a predetermined number of zero bits. They solve the proof-of-work and are rewarded with the protocol currency, BTC, when they guess the right number after using a lot of computing power. At the same time, this serves as the Bitcoin minting process.
GPU mining entails using the graphics processing unit of a gaming machine to solve complex math problems in order to validate electronic transactions on a blockchain.
Highest Earning GPUs as of 04/20/21
- Nvidia RTX 3090 — $602.33/m
At $1499, the RTX 3090 brings competition to ASIC mining with a low payback period and low power consumption. However, with the ridiculously priced GPU market, the average 3090 goes for around $4,200. Although the price is quite ridiculous, it still has a payback period of 216 days, and everything after those days are profits.
- Nvidia RTX 3080 — $481.74/m
The RTX 3080 has some crazy specs, including 68 SM units for a total of 8704 CUDA cores. The card also includes next-generation RT (Ray-Tracing) cores, Tensor cores, and brand-new SM or streaming multi-processor modules in addition to the CUDA cores. 272 TMUs, 272 Tensor Cores, 96 ROPs, and 68 RT cores are among the other features. The card has a TDP of 320W and a base clock of 1440 MHz and a boost clock of 1710 MHz. In terms of mining efficiency, the GeForce RTX 3080 has an out-of-the-box mining rate of 73–74 MH/s on the Ethereum DaggerHashimoto algorithm. Overclocking the card to a maximum performance output of 92–93 MH/s brings the performance up to 82–84 MH/s.
- AMD VII — $447.33/m
Average eBay cost: $1999.00, a payback period of 138 days.
- AMD RX 6800XT — $305.97/m
Average eBay cost: $1600.00, a payback period of 162 days.
- AMD RX 6900XT — $305.97/m
Average eBay cost: $2000, a payback period of 202 days.
- AMD RX 6800XT — $287.37/m
Average eBay cost: $1500, a payback period of 161 days.
- Nvidia RTX 3060 Ti — $282.41/m
Average eBay cost: $1620, a payback period of 177 days.
- Nvidia RTX 3070 — $282.41/m
Average eBay cost: $1759, a payback period of 193 days.
- AMD RX 5700XT — $265.98/m
Average eBay cost: $1200.90, a payback period of 139 days.
- AMD RX 5700 — $263.81/m
Average eBay cost: $1180.90, a payback period of 138 days.
- Nvidia RTX 2080 Ti —$ 261.33/m
- Nvidia RTX 2070 Super — $208.63/m
- Nvidia RTX 2060 Super — $208.63/m
- Nvidia RTX 2080 Super — $208.63/m
- Nvidia RTX 2070 — $208.63/m
- Nvidia RTX 2080 — $208.63/m
- Nvidia GTX 1080 Ti — $204.91/m
- AMD RX 5600XT — $198.71/m
- AMD RX Vega 64 — $188.48/m
- AMD RX Vega 56 — $171.74/m
- Nvidia GTX 1080 — $167.09/m
- Nvidia P104–100 — $167.09/m
- AMD RX 580 8GB — $151.59/m
- AMD RX 480 8GB — $148.18/m
- AMD RX 570 8GB — $145.39/m
- Nvidia GTX 1660 Super — $142.29/m
- Nvidia GTX 1070 Ti — $141.36/m
- AMD RX 470 8GB — $139.81/m
- Nvidia GTX 1660 Ti — $137.02/m
- Nvidia RTX 2060 — $134.54/m
⛏ The Best GPUs for Mining | Kryptex. (2021). Retrieved 20 April 2021, from https://www.kryptex.org/en/best-gpus-for-mining
Mujtaba, H. (2020). NVIDIA GeForce RTX 3080 Ethereum Mining Performance Leaks Out. Retrieved 20 April 2021, from https://wccftech.com/nvidia-geforce-rtx-3080-ethereum-crypto-mining-performance-leaks-out/