Introduction

Mining, in simple words, means to extract minerals from the ground by physically digging deep down into the earth’s crust. In terms of cryptocurrency, mining is a process in which the transactions for different forms of digital currencies are verified and added to the blockchain digital ledger, that serves as a public financial transaction database.

The first type of crypto ever released is Bitcoin, which came to life in 2009. Cryptocurrencies or digital currencies are typically decentralized forms of digital assets that have been sketched to work as a medium of exchange that uses powerful open-source software to keep the financial transactions secure and transparent while controlling the creation of additional units and verifying the transfer of assets.

Note: Various Altcoins (alternative coins) have been introduced since Bitcoin’s inception like Ethereum, Ripple, Bitcoin Cash, and Litecoin.

Crypto mining requirements

As a crypto-miner, it is essential to have the best GPU for mining as it is the central unit that integrates all the other parts of computer hardware. Oftentimes, crypto mining generates a small income for the miner while working on dedicated computer hardware at your own expense. As mentioned above, the best GPU for mining makes a massive difference in the efficiency of mining.

The basic hardware requirements of mining include computer hardware exclusively dedicated to crypto mining with a specialized GPU (Graphics Processing Unit) chip or ASIC (Application-Specific Integrated Circuit), a consistent and stable internet connection, an authorized cryptocurrency mining software package, sufficient cooling means for the hardware, and a membership in an online cryptocurrency exchange & an online mining pool.

What is the purpose of crypto mining?

The technical terminologies associated with the cryptocurrencies often confuses the people new to the crypto economy. Like any other investment, investing in the crypto market involves extensive research before making any decisions concerning the crypto market is highly unpredictable. Being a comparatively newer concept, the majority public has its own set of complexities when it comes to cryptocurrency.

Cryptocurrency mining primarily serves two purposes, i.e., adding transactions to the blockchain by securing and verifying them and generating new currency.

Crypto transactions use the technique of cryptography, a process that is used to convert legible information into a nearly uncrackable code to help track purchases and transfers. Cryptography is a system that uses the elements of mathematical theory and computer science.

Note: Currently, crypto miners are awarded 12.5 BTC per block mined.

Here’s a list of top GPUs best for mining the top two cryptocurrencies – Ethereum and Bitcoin:

Best GPU for mining Ethereum

1. AMD RX 470/570

The AMD RX 470/570 has a power draw of 80W to 200W, a hashrate of 20 to 30 Mh/s, and a VRAM of 4 GB and 8GB GDDR5 making it the most energy-efficient series out in the market. With the use of proper memory overclocking, core underclocking and undervolting techniques, one can get the card to run on only 70W to 80W and still have it push out upwards of 30 Mh/s.

2. AMD RX 480/580

The AMD RX 480/580 has a power draw of 100W to 250W, a hashrate of 20 to 30 Mh/s, and a VRAM of 4 GB and 8GB GDDR5, making it more like an updated version of the AMD RX 470/570 series.

3. AMD Radeon RX Vega series

The AMD Radeon RX Vega series has a power draw of 150W to 250W, a hashrate of 30 to 45 Mh/s, and a VRAM of 8 GB HBM2, which is the latest addition to the AMD series with the best efficiency that includes the RX vega 56 and the RX vega 64, both with an 8 GB RAM, are very close when it comes to mining performance.

4. Nvidia GTX 1060

The Nvidia GTX 1060 has a power draw of 60W to 150W, a hashrate of 18 to 25 Mh/s, and a VRAM of 3 GB and 6 GB GDDR5. The base card is available at a relatively lower price and runs well as one of the best GPU for mining Ethereum in the price range.

5. Nvidia GTX 1070

The Nvidia GTX 1070 has a power draw of 150W to 225W, a hashrate of 25 to 32 Mh/s, and a VRAM of 8 GB GDDR5, making at a great card overall that serves suitable for Ethereum mining as well as for mining other cryptos like Zcash. There won’t be any degradation in the card’s performance, making it the best GPU for mining Ethereum 2020.

Best GPU for mining Bitcoin

6. Nvidia GTX 1080ti

The Nvidia GTX 1080ti has a power draw of 150W to 250W, a hashrate of 35 to 40 Mh/s, and a VRAM of 11 GB GDDR5, which is the most powerful GPU regularly used in mining having the highest mining density. Despite being a bit on the expensive side, the GTX 1080ti is the best GPU for Bitcoin mining 2020, making it the best card to invest in.

7. Nvidia GeForce GTX 1070ti

The Nvidia GTX 1070ti has a power draw of 120W and a hashrate of 26 Mhs. Despite having a low hashrate, the GPU has a great overclocking potential that makes it an excellent choice for cost-effective and high efficiency best GPU for Bitcoin mining. The GTX 1070ti is the upgraded version of GTX 1070, with improvements like a higher performance output and an enhanced clock speed.

8. Nvidia GeForce GTX 2060

With a power of 500W, a core clock capacity of 1,365 MHz, and a VRAM of 6GB GDDR6, the GTX 2060 is no doubt the best GPU for Bitcoin mining for a hassle-free mining solution and the most profitable output.

Note: The Nvidia GeForce 1070 was considered to be the best GPU for Mining 2017 with a low power draw and high hash rate. Currently, the AMD Radeon VII is a popular choice among crypto miners.

Conclusion

Overall, there are several Graphic Processing Units available at different prices with different high functioning combinations features. Choosing a GPU for cryptocurrency mining might require a lot of extensive research, and one should consider consulting a present or a previous cryptocurrency miner.