Best Ethereum Mining Hardware Comparison

by

So you want to mine Ethereum? Then definitely you have a question in your mind that what is the best hardware /GPU you can use to mine Ethereum efficiently.

If you are thinking that the most powerful GPU will give you more profit then wait there are many more factors to be considered before buying the GPU like how much electricity it consuming, ROI (Return on investment), electricity consumption, etc.

I am not saying that the most powerful GPU will not give you profit but here I am talking about the most efficient hardware, which has a lower cost, good mining power, and consumes less electricity.

So in this article, I am listing the 8 best and most efficient hardware to mine Ethereum.

This listing is based on 4 factors

  • Price of the card
  • Power consumption
  • Mining power/hash rate 
  • Return on investment

After considering all the factors, I am finding out the most efficient GPU miner to mine Ethereum to make a decent profit.

Note: At the end of this post I am Finding out the most efficient miner by comparing all of them so must read this post by the end.

Disclosure: Mining metrics are calculated based on a network hash rate of 516,170 GH/s and using an ETH – USD exchange rate of 1 ETH = $ 2,105.16. Block reward is fixed at 3.75127802693025 ETH and future block reward reductions are not taken into account. The average block time used in the calculation is 13.155115012106538 seconds. The electricity price used in generating these metrics is $ 0.12 per kWh.

8 Best Ethereum Mining Hardware Comparison

 

1. Radeon RX580 8GB

Don’t be surprised, RX580 is one of the most demanding GPUs in the mining industry. In the last quarter of 2017 when the cryptocurrency is at its peak and this GPU is always out of stock. The reason to mention it in the 1 position of the list is because of its price and its high ROI. So let’s play with some numbers.

  1. Mining Power/ Hash Rate: 29 Mh/s
  2. Power consumption:  135W
  3. Profit Per Day: $2.91
  4. Profit Per Month:$ 87.43
  5. Return on Investment (ROI): About 4 months

As you can see with numbers the ROI of this card is quite good and that’s the reason it in the top of our list.

Note: The power consumption is only for GPU not for the whole system.

2. GeForce GTX 1060 6GB

  1. Mining Power/ Hash Rate: 29 Mh/s
  2. Power consumption:  about 90 W
  3. Profit Per Day: $2.59
  4. Profit Per Month:$ 77.65
  5. Return on Investment (ROI): 4-5 months

3. Radeon RX 5700

  1. Mining Power/ Hash Rate: 51.3Mh/s
  2. Power consumption:  about 135 W
  3. Profit Per Day: $5.46
  4. Profit Per Month:$ 163.81
  5. Return on Investment (ROI): 5-6 months

4. GeForce GTX 1070

  1. Mining Power/ Hash Rate: 28.2 Mh/s
  2. Power consumption:  about 114 W
  3. Profit Per Day: $2.88
  4. Profit Per Month:$86.52
  5. Return on Investment (ROI): about 6 months

5. GeForce GTX 1660 Super

  1. Mining Power/ Hash Rate: 30.02 Mh/s
  2. Power consumption:  about 75 W
  3. Profit Per Day: $3.20
  4. Profit Per Month:$96.04
  5. Return on Investment (ROI): 6-7 months

6. GeForce RTX 2060 Super

  1. Mining Power/ Hash Rate: 43.7 Mh/s
  2. Power consumption:  about 129 W
  3. Profit Per Day: $4.61
  4. Profit Per Month:$138.19
  5. Return on Investment (ROI): about 7 months

7. Radeon RX 5600 XT

  1. Mining Power/ Hash Rate: 39.6 Mh/s
  2. Power consumption:  about 115 W
  3. Profit Per Day: $4.18
  4. Profit Per Month:$125.3
  5. Return on Investment (ROI): about 6 months

8. Radeon RX Vega 56

  1. Mining Power/ Hash Rate: 39.2 Mh/s
  2. Power consumption:  about 175 W
  3. Profit Per Day: $3.96
  4. Profit Per Month:$118.92
  5. Return on Investment (ROI): 6-7 months

How to choose Mining Hardware.

The above-listed GPU is based on my own research, so which factors I kept in mind while choosing the mining hardware or simply how you can choose the best Ethereum mining hardware by yourself?

Here are the factors which I consider while selecting GPU for mining.

Hash Rate

The mining power produced by the GPU is Hash Rate, the more hash rate the more powerful the GPU is.

Electricity consumption

Power required to run the GPU

Efficiency

This is the most important factor I always take into consideration while choosing GPU as the electricity cost is a fixed and ongoing cost. You can consider it as the operational cost. The efficiency of the mining hardware is calculated by its hash rate to its power consumption.

Let us understand by example if the GPU requires power 135W to run and produce a hash rate of 30Mh/s then the efficiency ratio will be 0.22. The maximum efficiency ratio can be 1 so the more closely the value to 1 the more efficient the GPU is.

RIO

How much time it will take to recover the cost of GPU. For example, if the GPU costs 250$ and it gives you monthly profits of 80$ (not included electricity cost) then the ROI will be close to 3.125 months or close to 100 days.

I hope you like the post if yes do share your thoughts in the comment box.

 

Leave a Comment