Feb 1, 2019 01:30 UTC
Feb 1, 2019 at 01:30 UTC
5 Best GPU for Mining Bitcoin
Bitcoin is a phenomenon which took everybody by surprise when it reached the highest price of around $20K by December end 2017. If you are among those who knew of the phenomenon but were late to jump on the bandwagon, then don’t worry Bitcoin mining could be your way to earn the Bitcoin riches.
Mining is the process of verifying transaction on the Bitcoin Blockchain, which rewards the miner with a certain Block Reward (12.5 BTC currently). In order to start mining for Bitcoin or any other altcoin, you need certain hardware equipment.
This article would help you understand the process and the prerequisite of mining rigs to create a perfect setup for mining bitcoin.
You May Also Read: Top Bitcoin Mining Pools of 2018
What is Bitcoin Mining?
The idea of Satoshi Nakamoto was to create a network of cashless transaction where the whole network is maintained by the peers, instead of a few selected ones. Bitcoin makes use of Proof of Work protocol, which is based on the SHA-256 algorithm.
In order to move to the next block, the hash function of the previous block is required, where the input hash has a predefined output which cannot be tampered with. In order to verify a transaction, one needs to verify the hash function associated with each transaction.
Now the process of verification requires computational power since the encrypted hash function is 256-bit, your computer needs to run simultaneous codes to verify the output hash function with the input one.
Earlier when the number of miners on the network was limited, it was easy to mine Bitcoin using a CPU based home PC. However, with time the mining difficulty has increased significantly, and people have started using specialized mining rigs, generally with multiple video or graphics card to generate extra hash power to mine the block earlier.
GPU focused mining rigs are the considered to be most suitable for the Bitcoin mining process, since it can run multiple codes to verify the output hash function, instead of a CPU which is considerably slower, when it comes to multi-tasking.
So, if you are jumping in the Bitcoin mining game, you would require a good GPU mining rig, to compete with others. We will discuss 5 such GPU mining rigs which might suit our need.
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5 Best GPU Mining Rigs For Bitcoin Mining
1. Nvidia GeForce GTX 1070
Nvidia which is known-name in the gaming industry found a different user base with almost same needs. Nvidia has been in the manufacturing of GPU mining rigs for long, and it’s GeForce GTX 1070 is perfect for the beginners. It provides high hash rats of up to 30mh/s and consumes considerably less energy while doing it.
Mining process requires a lot of energy in fueling the rigs to generate high hash rates, so you know that GTX 1070 with less energy consumption is a perfect choice in the long run. The initial cost is high, but in the long run, it’s one of the best choices for mining bitcoin.
2. AMD Radeon RX 580
The AMD GPU rigs are equally popular to that if Nvidia, if not more. The AMD Radeon RX 580 can generate hash rates of 29 MH/s and saves you a ton in electricity bills. It’s among the top choice for miners and warranties great performance. With its cost lower than Nvidia’s GTX 1070, it can always match the performance.
By tweaking a few settings by looking at online setup tutorials, this AMD GPU could be your way to earning Bitcoin riches.
3. Nvidia GeForce GTX 1060
The GeForce GTX 1060 might not be the beast of a performer, but given the price point, it can easily be a good mining rig for beginners, as it is comparatively cheaper than any other option available in the list. The GTX 1060 can alternatively be used for gaming as well, so it’s a win-win situation.
4. AMD Radeon RX Vega
One of the best performer from AMD, the RX Vega, and its benchmark scores even leave the Nvidia GeForce 1070 behind. It’s one of the great overall graphics card packages and does what it promises the best. With high performance comes the headache of high-energy consumption, and heating issues. Do, if you are Bitcoin miner planning to run the beast 24*7 then, heating could be an issue.
But, looking from a purely mining point of view, this is certainly the best performer.
5. Nvidia GTX 1070 Ti
The GTX 1070 at the top of the list provides a great GPU mining performance, however the GTX 1070 Ti better over it with few amendments like better clock speed, high-performance output. However, there have been reports of bugs in the software which lower the hash rate, plus its costlier than its predecessor and also consume more energy. Thus if you are looking to mine Bitcoin, make sure you have done your research right.
You May Also Read: CPU, GPU or Cloud Mining? Which is Most Profitable in 2019?
GPU mining rigs became a rage when people started taking mining seriously, earlier the mining process was intended to maintain the decentralization aspect of it. However, the high price rise of Bitcoin turned it into a legit business.
There are many mining farms which have come up in the location where the cost of electricity is cheaper and climate suits the high-heat yielding machines. If the 2018 market fall has made the individual mining non-profitable, you can opt for mining pools to earn a few bitcoin.
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