Generally, there are two types of Ethereum mining rigs – CPU and GPU. NiceHash QuickMiner makes it easy for anyone with zero technical knowledge to start crypto mining. The best part about PhoenixMiner is its 0.65% dev fee which is the lowest among any other mining software, with NiceHash QuickMiner being the sole exception. In comparison, both NBMiner and T-Rex Miner have the dev fees set to 1% for the Ethash algorithm used to mine Ethereum. Use our Ethereum mining hardware calculator and popular Ethereum miners from the list to compare mining rewards as well as Ethereum mining machine profit and earnings in 2024.
The 7 Best Ethereum Mining Software for NVIDIA and AMD
Smart contracts are software applications that run automatically on the blockchain when specific conditions are met. While not the first altcoin, ethereum is among the best-known. The cryptocurrency has seen rapid growth in its blockchain and value since its 2015 launch.
- Even though some algorithms may perform better than others, we’re going to focus exclusively on Ethereum hashing for now.We’ve used our standard GPU testbed for these tests, running a single GPU.
- Note also that we do periodically ‘refresh’ this article, but the original text was from early 2021.
- For simplicity, I’ll refer to the liquid-cooled 290X as GPU 1 and the air-cooled model as GPU 2.
- Mining BTC is going to make you pennies a day on most cards – but the idea is that if you make enough of those pennies, someday, those pennies will be dollars.
- High-profile bankruptcies, including leading cryptocurrency exchange FTX in November 2022, also hit the industry.
- It also has a very low rejection rate, lower than 1% in most cases.
- This is just a baseline set of performance figures and data, using our specific samples.
NVIDIA GeForce RTX 3060 TI
If you wanted to be really strict on power consumption, you could use a single module. For this guide and the mining software we used, you’ll need 4GB of RAM bare minimum. Mining CPU overhead is quite low, so a weaker CPU is perfectly adequate. For miners buying new rigs, the cheaper CPUs not only save on initial costs, they also save on power draw, thus lowering the power bill.
Ethereum market cap
It was hard to find a GPU for mining because they sold out so fast. In the early days of mining cryptocurrency, best ethereum mining hardware we relied on processing power. We used CPUs to solve mathematics problems that “discovered” tokens.
0% fee pools are usually supported by donations, they might be less stable than pools with a fee to cover the costs. If the pool fee is higher than 3%, you should consider looking for another pool. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person.
What Settings Are ‘Safe’ for 24/7 GPU Mining?
As such, calling this “part selection” isn’t terribly accurate. Admittedly my old parts might be slightly higher quality and faster than the spare parts of the average computer enthusiast. However, this miner is not stored away at the Tom’s Hardware offices. In other words, it’s not a purely hypothetical thought experiment.
- Sometimes a new coin will launch, or someone will want to dedicate a lot of mining power at a specific coin, and they’ll pay more to do so.
- He has been working as a tech journalist since 2004, writing for AnandTech, Maximum PC, and PC Gamer.
- Well, good thing we’re here to talk about Ethereum mining hardware.
- However, ensure to take note of the power consumption listed in watts.
- The single spacing for double-slot cards would normally be a problem for adequately cooling the dual 290X graphics card setup.
BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor. To make it fair and to avoid redundancy, I’m going to list one GPU from each company to give examples of what the best GPU for mining should look like. Both companies have more than proven their ability to create high quality, state-of-the-art technology, therefore both company’s products are dominating the lists. Main score based on expert evaluations & real user reviews.
NVIDIA GeForce RTX 2070
The best GPU for mining is just that — the GPU that solves mining problems the fastest. TechRadar does not endorse any specific cryptocurrencies or blockchain-based services and readers should not interpret TechRadar content as investment advice. One of the newer NVIDIA GPUs, this card provides a great ROI considering the good ethash rate and the relatively small power consumption. NiceHash has several options, ranging in degree of complexity. The easiest is to use the new QuickMiner, which is a web interface to a basic mining solution.
Temperatures and Fan Speeds
As with all things Linux, getting it up and running may require a bit more knowledge and patience, but because it’s an OS tuned specifically for mining, hash rates can be higher. (We didn’t do any of our testing with NiceHash OS, due to time constraints.)There are two big downsides to mining via NiceHash. One is that you’re not actually getting Ethereum — not directly, at least. You’ll get paid in Bitcoin, which you can then trade for Ethereum if you want. That’s not necessarily a bad thing, considering BTC is the largest of cryptocoins, but if you want ETH you’ll need to take some extra steps.