January 30, 2018 by Jacob Tuwiner
Ethereum mining ter 2018 is significantly more profitable than mining other altcoins.
However, not all Ethereum mining hardware wasgoed created equal.
Fortunate for you, this guide provides you with the three most profitable Ethereum mining hardware GPUs!
Ethereum Mining Hardware to Maximize Your Profits
Ethereum Mining Profitability
Before you spend money on an expensive mining GPU, you very likely want to know if you’ll see a good terugwedstrijd on your investment (see our guide on Ethereum mining profitability).
Look no further. Wij are here to tell you that if you use the above mining GPUs, you’ll see a excellent come back on your investment.
However, you can’t use any GPU. Some are better than others when it comes to mining. For example, the GTX 1060 is a fine GPU for gaming, but it’s not the best mining GPU on the market te its price range.
Spil you can see, the above graph shows the comeback on investment of the Radeon R9 295X2. Spil stated previously, you’ll make overheen $1,000 annually vanaf card each year.
If you invest ter numerous cards, you will make even more passive income.
Ethereum Mining ASIC?
Ethereum does not support the use of ASIC hardware. This is because the Ethereum development team purposely designed Ethereum to be ASIC resistant.
Generally speaking, ASICs tend to centralize a currency that wasgoed once intended to be totally decentralized.
ASICs are fairly expensive, and the average person very likely can’t afford to spend several thousand dollars on one. Generally speaking, only whales can afford to buy them.
When they do, they buy a entire lotsbestemming.
This is why a majority of Bitcoin mining takes place ter China with thousands of ASIC miners housed ter a warehouse wielded by wealthy investors.
When a currency (Ethereum) is resistant to ASIC mining, the average person can afford to buy a GPU if they don’t already have one. This permits everyone to verify the network instead of a select few with lots of power.
See Out for VRAM!
Presently you’ll need at least 3GB of dedicated movie memory (VRAM) to mine Ethereum.
The amount of VRAM required to mine Ethereum steadily increases, and it’s expected to reach 4GB ter late 2018.
The Ethereum Directed Acyclic Graph (DAG) verkeersopstopping is stored ter the GPU’s VRAM.
It increases proportionally to mining difficulty. If you project to mine with a GPU that doesn’t have at least 3GB of VRAM, you won’t be able to!
If you’re considering the purchase of an Ethereum mining GPU, make sure it has slew of VRAM ter order to be future proof.
Both the Radeon HD 7990 and the R9 295X2 are fine choices!
The Best Ethereum Mining Hardware
Radeon R9 295X2 – $600
By far the most powerful Ethereum miner, the Radeon R9 295X2 has a hash rate of 46 MH/s, drawing 500 W from the wall. This means you’ll see a yearly terugwedstrijd of $1,454.Legitimate USD annually vanaf card. That’s right, overheen $1,400 vanaf card. Some might think the GTX 1080 is a more powerful alternative, but they’d be wrong. If you want to generate serious revenue by mining Ethereum, the R9 295 X2 is your card of choice.
Radeon HD 7990 – $350
A powerful alternative to the R9 295X2, the Radeon HD 7990 has a hash rate of 36 MH/s. It consumes 300 W at max blast. This means you’ll save money on power consumption. You’ll make overheen $700 USD annually vanaf card!
Radeon RX 480 – $300
Never underestimate the power of the Radeon RX 400 series. The Radeon RX 480 is not only the cheapest GPU ter this list, it is also lightly the most economic GPU. This card has a hash rate of 25 MH/s while only drawing 150 W at max stream. You’ll make overheen $700 USD annually vanaf card! Comparitively to the RX 580, this card is an awesome Ethereum miner!
Finding the right GPU for mining Ethereum can be difficult. It is significant to balance the power of the GPU with the cost of the GPU and the cost of electro-stimulation.
Spil wij have seen with other popular cryptocurrencies such spil Zcash, ZenCash, Monero, Dash, Litecoin, and Bitcoin, mining profitability is always directly related with thesis factors (see our guide on Ethereum mining profitability).
Ethereum Mining Equipments
Proof-of-work is the method used to mine Ethereum. Essentialy, your mining hardware is cycling through every every single possible solution until the onberispelijk solution is eventually found.
Here’s the catch:
Finding this value is next to unlikely.
That being said, the more powerful your mining hardware is the more likely you are to successfully mine Ether, and te turn generate a profit. If you use one of the three GPUs mentioned above, you’re off to a good commence.
Of course, the more GPUs you employ ter your equipment, the more money you’ll make.
With this te mind, it’s time to think about Ethereum mining equipments.
An Ethereum mining equipment is a configuration of two or more Ethereum mining GPUs. Te most cases a equipment consists of four or more GPUs. Obviously they’re more expensive than one GPU, but they also have far superior hashing power.
At the end of the day, they’re well worth the investment. Sometimes, it’s better to buy a few cheaper, less powerful GPUs.
For example, the GTX 1050 Ti doesn’t have a very high hashrate. However, it doesn’t consume much power either. Ter fact, buying four 1050 Ti’s would cost you the same spil buying one R9 295X2 and they have a higher profit ratio.
Recommended Ethereum Mining Equipment Configuration
Wij know it’s not effortless to choose the right parts for a mining equipment, especially if you’re fresh to crypto.
Here’s a list of things you should keep te mind:
- A motherboard with enough PCI slots to accommodate your GPUs
- A Riser cable for each GPU
- DDR4 RAM (at least 4GB)
- A case that provides sufficient airflow
- A power supply that can power all of your GPUs (careful, running numerous GPUs consumes a loterijlot of electro-stimulation!)
- SSDs are helpful spil they increase read/write speeds
- The zindelijk mining software
Here are some components to consider:
What is Ethereum?
Ethereum is distributed among a public blockchain, much like Bitcoin.
Ethereum has a entirely different blockchain protocol than Bitcoin. Bitcoin’s blockchain is based on proof of work. Ethereum’s blockchain, albeit presently is based on proof of work, is soon to become based on proof of stake.
There are real figure goes who run Ethereum unlike Bitcoin, which is possessed by nobody. Ethereum also features decentralized apps. The Ethereum blockchain is the base, and other people can build decentralized blockchains on top of Ethereum.
Benefits of Mining Ethereum
Ethereum is projected to increase te value even more than it already has. Mining is a good way to generate passive income.
Look at it this way:
When you go to work, you get paid for the hours you waterput ter. If you work for a few hours, you’ll be paid for a few hours.
However, with Ethereum mining, if you waterput te a few hours of work, you’ll be paid indefinitely after that, even after you’ve stopped working.
How does this work?
That’s the beauty of passive income. Once you set up your mining equipment, you’ll generate revenue all of the time, spil long spil you keep it on.
What are Ethereum Brainy Contracts?
A wise contract is pc code that is built into the blockchain network that computers execute. Once the code is executed, the ledger is updated.
Ameer Rosic uses ‘if this than that’ logic to explain clever contracts. If wij create a code online on the blockchain, and someone puts money into the contract, the next activity will be executed. This may be a digital contract being sent to somebody’s email, for example. This trigger may execute something else, so on and so on.
He uses a vending machine spil a real life example. You input the code B6 into the vending machine. The vending machine takes this code, and then executes the code. The candy buffet labled B6 is then dispensed.
This is an amazing feature of Ethereum that is unique and revolutionary.
How Will Brainy Contracts be Useful te Today’s Society?
Ameer Rosic uses this example to illustrate the amazing benefits of clever contracts ter the future:
Traditionally, when buying a car, you go to the dealership. Once there, you have to negotiate a price. Then you have to go to the handelsbank and have a assured check or something of that sort drafted. After that you have to go back to the dealership with this assured check.
After all of this, you still have to sign all of the paperwork for the title, clear the check, etc.
This process will take a while. Imagine if instead, this entire process wasgoed on a wise contract. How is this possible?
A car could be uploaded to the blockchain. You, the customer, sees the car. You want to buy the car, and since it’s on the blockchain with a wise contract, you can buy it instantaneously. You pay with crypto, and the car is bought te real time. Everything is executed on the clever contract. You now own the title and all information about the car.
It is effortless to see how revolutionary this technology is, and how crucial it is to invest ter Ethereum now.
Investing te Ethereum
If you’re still reading, I imagine by now you want to invest ter Ethereum. It would be a wise choice.
Many people want Ethereum but become frustrated when mining doesn’t yield the amount they had imagined.
The easiest way to acquire Ethereum and Ethereum Classic is to purchase it.
Ethereum vs. Bitcoin
Ethereum is presently the 2nd largest cryptocurrency ter the world, trailing Bitcoin.
Interestingly, not only is it growing quickly, it’s also becoming more widely used.
BTC is a way to store value, but because of its fees and slow transaction times, many are turning to ETH due to its better block time and technology.
However, Bitcoin is still the #1 cryptocurrency today, and wij believe it’ll stay that way.
Just Looking to Acquire Ethereum?
Don’t get mij wrong, mining Ethereum with our suggested mining hardware is very profitable. However, if you just want to get Ethereum, it’s very likely not the fastest route.
If you’re just looking to buy Ethereum, you should check out popular exchanges like Coinbase or Gemini. They make it quick and effortless to buy Ethereum.
Once you buy your Ethereum, you can exchange it for Bitcoin and other currencies on popular cryptocurrency exchanges like Binance.