Hello everyone! This is Panda! (Of course it isn’t my real name but hey everyone loves a cute nickname right?)
Today we’re going to talk about mining your favorite cryptocurrency. There are many options available these days and a lot of information found online can be extremely confusing. Especially with lots of new miners, there are many opinions. The topics that I talk about are topics that are based on real life testing and experience.
If you’re new to mining cryptocurrency, today we will be talking about Ethereum based blockchain.
As a fellow miner, you’re probably wondering, what do I do? How do I even start? There’s so much information available and it’s just confusing! I understand, it’s very difficult to decide when picking your first mining rig. Today we will concentrate on Graphics Cards (GPUs), the main heart of your cryptomining rig.
You have a couple of options. You can pick between AMD cards or Nvidia Cards.
If power is expensive in your area, you might consider a GTX1060. Given today’s prices, a GTX1060 would be the most cost effective, however you’ll find that they have one of the 3 memories available.
Samsung Memory - 23-25mh/s
Hynix Memory - 16-19mh/s
Micron Memory - 20-23mh/s
These are the type of memories you’ll find on a GTX1060. Ideally you would want a Samsung Memory based card, they provide the best hashrate when mining Pirl. The next best would be Micron, followed by the worse of the lot, Hynix.
Unfortunately, this cannot be fixed with timing straps as Nvidia bioses cannot be modified at the time of this article.
Picking a 3GB card or a 6GB card is entirely up to you, however a 6GB card will be able to mine Ethereum for a longer time. A 3GB card will however mine Pirl for a much longer time with no issues.
The power that these GTX 1060 use ranges from 75w to 100w.
The best bang for buck cards you can buy, RX570/RX580/RX470/RX480. (Provided you get them at a good price) These cards consume significantly more power than Nvidia cards, however they are able to achieve hashrates ranging from 28mh/s-32mh/s.
The hashrate depends on the type of memories you get, however the differences among them aren’t as high.
Elpida - 28.5-30.7mh/s
Hynix - 27-29mh/s
NOTE: these hashrates can only be achieved after doing the bios mod.
No matter which card you choose, the memories you get are part of a “silicon lottery”. Some batches may have been binned better than others, allowing some batches to have better overclocks and some worse.
Ideally you’ll want to look for Samsung as you’ll get better hash rates of all other memories. The next best would be Elpida memory followed by Hynix.
When it comes to Pirl mining, all 4 cards produce very similiar hashrates, however the RX580 cards consume about 10-15w more than the RX570.
The main differences between the RX500 and RX400 series are their ability to dual mine. (Which we will cover in my next article next time). The 500 series have better dual mining capabilities, which higher power usage.
At the end of the day, it all breaks down to which cards you’re able to get ahold of, and if higher power consumption bothers you.
If your power charges are high, stick with Nvidia, and you’ll get a better MH/W (Megahash per Watt) ratio. However, Nvidia cards are most costly given their prices and hash they produce.
For the best MH/$ (Megahash per dollar) the AMD cards will always be lower cost and better lower upfront cost.
AMD cards have a quicker ROI, compared to Nvidia. You’ll need to have a quick calculation based on your charges from your power company. If power is free, just jump on and grab yourself some AMD GPUs.
Signing off for now, and happy mining everyone, xoxox Panda ;)