- There are several cryptocurrencies that can provide profitability for miners operating with GPUs.
- In many cases, GPUs are affordable, so anyone can start a business.
Cryptocurrency mining is an activity that has diversified considerably since its inception. This means that it must be done using different technical equipment, such as a graphics card (GPU). Currently, the hardware is widely used to mine cryptocurrencies such as Ether (ETH) and Dash (DASH) from Ether, guaranteeing profitability.
GPU mining emerged as a response to the increased difficulty of mining, although historically, video cards have built a community: gamers. Computer video games have facilitated the manufacture of specialized hardware that allows programs requiring high performance to be executed on the device.
Similarly, at the audiovisual level, GPUs have a wide user base, especially in terms of video editing and other professionals in the field.
However, due to the difficulties (the process of ensuring that blocks with transactions are generated within the estimated time), these devices have gained ground among cryptocurrency miners, who have integrated video cards as an important part of being able to penetrate in the digital mining industry and ensure profitability.
But what are the most profitable cryptocurrencies to mine using GPUs? To answer this question, we at CriptoNoticias have compiled assets that can generate significant returns on investment and profits when mined using video cards.
GPU mining of cryptocurrencies has become popular in recent years. Source: Amazon. Profitable cryptocurrencies mined using GPUs
Using a graphics card, you can mine a variety of cryptocurrencies. Some are more profitable than others, but this factor depends on different circumstances, such as the equipment used, operating costs and the price of the cryptocurrency being mined.
The good news is that the hardware is affordable, with prices starting from $ 500, depending on how powerful it is. In addition, there is an interesting competition among manufacturers of such devices. You can learn about the best GPUs for mining cryptocurrencies in this CriptoNoticias article.
Ether from Ether (ETH)
Ether, the cryptocurrency native to the Ethernet (ETH) network, is the primary cryptocurrency that can be mined using GPUs. While it is indeed possible to value the profitability of the second most important cryptocurrency due to factors such as price or mining equipment, the metrics may vary.
The good news is that with current hardware, the profitability of mining ethereum using GPUs is practically guaranteed. In Minerstat calculations, mining with the Nvidia CMP 220HX, which has an arithmetic power of 210 MH/s, can generate up to $8.28 per day. This averages out to about $248 per month.
It is important to remember that one way to guarantee profitability is to join a mining pool, as it is unlikely that a single miner will be rewarded alone with close to 2 ETH (plus commissions for mining), considering the difficulty of mining ethereum (trading).
Several video cards are currently available for mining Ether, an activity performed under the Ethash algorithm and designed for cybersecurity. In addition to those already reviewed, there is the Nvidia RTX 3090 (121 MH/s), AMD Radeon VII (105 MH/s), Nvidia RTX 3080 (97.9 MH/s) and Nvidia RTX A6000 (93.6 MH/s) /s).y).
There are also programs that allow you to mine ethereum, such as Claymore, ETHminer and CGMiner. There are also mining pools, such as Ethermine, F2Pool and SparkPool, that you can join to handle the network.
While it is true that Ether is a profitable cryptocurrency mined via GPUs, it should be noted that mining Ether using the Proof of Work (PoW) algorithm is not always possible. It is planned that in late 2022 and early 2023, the network will migrate to Proof of Stake (PoS) and no longer require dedicated hardware to handle the network.
Find the best graphics card or GPU for the job in this article
Top 10 GPUs providing returns when mining Ether, according to Minerstat. Source: Minerstat.
Raven Coin (RVN)
Another profitable cryptocurrency that uses GPUs for mining is Ravencoin (RVN). It is a cryptocurrency that uses a peer-to-peer (P2P) network to accelerate transfers and exchanges. This cryptocurrency was born out of a fork of Bitcoin.
RVN uses only GPUs for mining through various software such as NBMiner, TeamRedMiner and GMiner. In the first few months of 2022, this cryptocurrency is priced between $0.08 and $0.05.
In terms of profitability, cryptocurrencies can generate up to $2 per day and $64 per month (including maintenance costs). This depends on the GPU used for mining.
For the Nvidia RTX 3080Ti (58.1 MH/S), the return is expected to be $2.10. With an RTX 3090, the return would be $1.70. With an AMD Radeon VII (105 MH/S), the estimated cost of mining this cryptocurrency is $1.60 per day.
Ravencoin can be mined in a mining pool, which accelerates the profitability of the cryptocurrency with blocks created every minute and a reward of about 5,000 RVN for mining them. This cryptocurrency uses the KaWPoW mining algorithm, which prevents the centralization of mining and activity on more specialized devices (ASICs).
Nvidia offers most of the easiest graphics cards for ethereum mining. Source: Minerstat.
Ethernet Classic (ETC)
The third cryptocurrency that can be profitable is Ether Classic (ETC). It is a relatively new coin whose origins can be traced back to 2016. It originated as a hard fork in the Ether network.
The smart contract network uses a PoW consensus system for processing and the GPU is the best device to mine and get rewarded for the cryptocurrency, which is trading at over $27 in March 2022.
In terms of profitability, Ethereum Classic offers interesting daily profits of up to $5.38 and an average of $160 per month. If it is mined using the Nvidia CMP 220HX GPU (210 MH/S).
The asset can be mined using most graphics cards on the market, but according to Minerstat, the cards that offer the most profitability are: Nvidia RTX 3090 (121 MH/S), AMD Radeon VII (105 MH/S), Nvidia RTX 3080 (97.9 MH/S), Nvidia CMP 90HX (89.4 MH/S) and Nvidia RTX A5000 (86.9 MH/S).
This cryptocurrency is usually mined in a mining pool and uses the Ethash algorithm. Like Ether, it is responsible for securing the network. In addition, it has a relatively low mining difficulty and an unlimited supply of coins. In contrast to Ether, the network has no difficulty adjustment, so proof-of-work mining will continue.
Ether Classic is a cryptocurrency that can earn up to $160 per month when mined on a single GPU. Source: Minerstat.
Zero Coin (ZEC)
Zcash (ZEC) is one of the easiest cryptocurrencies to mine using GPUs and some ASICs, and it can be profitable for you. It is a cryptocurrency that is designed to maintain privacy and can generate good income. What stands out is the negligible transaction fees, which is attractive to investors.
According to CoinMarketCap, Zcash has averaged between $137 and $138 over the course of a year. It was trading at over $122 at the beginning of March.
Regarding its profitability, this cryptocurrency can offer a daily profit of $0.03. Although it does not sound like much, being an easy-to-mine cryptocurrency, it can be produced on a large scale using various reasonably priced GPUs available on the market, which would improve that metric. Therefore, the ideal situation would be to join a mining pool.
There are several graphics cards that can mine ZCash. These include the Nvidia RTX 2080 Ti (49 MH/S), Nvidia GTX 1080Ti (32.04 MH/S), Nvidia RTX 2070 Super (37.38 MH/S) and AMD Radeon VII (105 MH/S).
This cryptocurrency can be processed in a mining pool with a release rate of 3.12 ZEC per block, which is added to the chain every two minutes. Zcash uses the Equihash mining algorithm, which prevents other more powerful hardware (e.g. ASIC) from centralizing the activity.
Zcash is one of the longest-lived cryptocurrencies on the market, providing profitability when mined using GPUs. Source: Minerstat. Monocoin (XMR)
The last cryptocurrency that could be profitable for GPU miners is Monroe Coin (XMR). It is an asset that imposes privacy and confidentiality over any other compelling element.
Monocoin prevents transactions from being tracked due to its main characteristics, in addition to the possibility of mining using GPUs and CPUs without a large investment.
Regarding the profitability of XMR, it should be clarified that the best way to see the profit is to mine cryptocurrency in a mining pool. In the 2Miners data, you can earn $7.47 per day and up to $224 per month.
As already repeated, this depends on the mining equipment, energy costs and other services that guarantee the operation, as well as the price of the cryptocurrency in question.
In Monroe Coin, each block is generated at an interval of 24 seconds, and the reward per miner is close to 5 XMR. Again, it uses the RandomX mining algorithm, which protects this cryptocurrency from being mined by dedicated hardware, such as ASICs.
Looking at the market data, XMR is trading at $177 in March 2022, which is a decisive factor in the asset's return. According to CoinMarketCap, it has a price range of $238 and $187 within a year.
Find the most profitable cryptocurrencies to mine using ASICs in this article.
Monero is a privacy-protected cryptocurrency that can be profitable when mined using GPUs. Source: 2Miners.
The profitability of GPU mining depends on various factors, such as price and the equipment available for the activity, but profit is also a guarantee for this, which is why more people are joining the industry.
Now that you know which cryptocurrencies are guaranteed to be profitable, there is no other way than to find the best GPU to mine and start engaging in an activity that will obviously last longer.