Representation of the Bitcoin cryptocurrency is seen in this illustration photo taken in Poland on ... [+] January 4, 2021. (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images)
You may have noticed that everyone under the sun is talking about Bitcoin following itsmeteoric rise to $30,000. But far less people are talking about GPU mining. Maybe because the idea of turning on your computer and having it magically generate an income feels elusive to you. And maybe because GPU mining and cryptocurrency are considered dirty words to PC gamers.
Especially to PC gamers lookingto build their own rig in a retail landscape thats seen the prices of graphics cards from AMD and Nvidia inflate once again to atrocious levels.
But for those of you who already own a gaming PC, you might be surprised how much money you can make mining with it, and just how effortless it is.
Back in 2013 when I first started mining, getting a client up and running was a serious challenge. Basic knowledge of Linux and terminal commands were hard requirements. But now its a snap to get up and running on a Windows PC using software called NiceHash.
No command lines, no messy configuration files although theyre there if you need them. Just an installer, some quick auto-benchmarks, and then your GPU gets to work.
The software even generates a Bitcoin wallet address for you, and lets you start mining automatically when your PC is idle.
A basic status and profitability overview on Nicehash.com
Never take any advice blindly. Read these notes before deciding to dive in.
So, lets talk money.
Radeon "monogram logo" from the Radeon VII graphics card
For the values below, I used the NiceHash Profitability Calculator and assumed a 0.13 USD/kWh electricity cost (the national average in the US as of December 2020), meaning youre seeing profits after paying for the power consumption of that GPU. Your mileage may vary is an understatement here. And kudos to you if your electricity costs are cheaper!
The value of Bitcoin is in constant flux, and these calculations are based on a Bitcoin to USD exchange value of $31,392.98 on January 5, 2021. As the value of Bitcoin climbs, so do your potential profits. The reverse is of course true, so always exercise caution.
But its worth pointing out that 3 years ago in January 2018, 1 Bitcoin was worth only about $11,000. . .
All of the GPUs listed below were tested in the companys labs, and are pulled from actual profit numbers from users, not estimated ones.
I can personally vouch for the accuracy of the Radeon VII, Radeon RX 6800 XT, and RTX 2080 Super estimates.
Monthly profit for select Nvidia GeForce cards:
While I dont advise buying any GPUs exclusively for the purpose of mining (costs are much higher than MSRP and your ROI return on investment would take quite some time), right now the RTX 3060 Ti seems to be best overall value. If you can find one
Monthly profit for select AMD Radeon cards:
Yes, believe it or not the Radeon VII is still the compute king. And AMDs last-gen RX 5000 series still puts up excellent numbers. Even Polaris cards like the RX 480/580 are performing decently, provided they are the 8GB VRAM models.
What About CPUs?
Even a beefy Ryzen Threadripper CPU has the potential to turn a profit.
Yes, you can use higher-end CPUs (Nicehash will primarily use these to mine Monero and convert it to BTC), but it will render your PC unusable for day-to-day tasks. Unless youre rocking newer AMD Ryzen Threadrippers, the daily profit for most gaming CPUs (less than $0.50) probably isnt worth the hassle.
What About Gaming Laptops?
You can use NiceHash with your gaming laptop, but that doesnt mean you should. If its your only option and you want to give it a shot, I caution against putting both your GPU and CPU to work simultaneously due to thermal and throttling concerns. The majority of gaming laptops dont have full-fat GPUs either.
Obviously these profit numbers will fluctuate for you, especially since youre probably going to use your rig and not dedicate it solely to mining. Then again, if you have a spare GPU youre not using, you can easily slot that into your PC and tell NiceHash to use that one and not your dedicated gaming GPU.
Better to have it collecting Bitcoin than collecting dust.
See more here:
How To Earn Bitcoin With Your PC In 2021 - Forbes
- GameStop and Bitcoin Renewed a Push to Digitize the Stock Market - The Wall Street Journal - April 9th, 2021
- Bitcoin exchange Kraken considers going public after record trading volumes in the first quarter - CNBC - April 9th, 2021
- At $60,000, Is Bitcoin Too Expensive? - Motley Fool - April 9th, 2021
- 'We've reached a tipping point' on bitcoin adoption, Fidelity's Tom Jessop says - MarketWatch - April 9th, 2021
- This Financial Advisor Thinks Bitcoin Could Be Headed for Mass Adoption - Motley Fool - April 9th, 2021
- Is there a future for bitcoin? An investor and a skeptic debate - The Verge - April 9th, 2021
- Fidelity Says Bitcoin Adoption Will Keep Accelerating 'We've Reached a Tipping Point' Featured Bitcoin News - Bitcoin News - April 9th, 2021
- The IRS wants to know all about your Bitcoin holdings --- and this court summons is a reminder - MarketWatch - April 9th, 2021
- Gold, Stocks, and Bitcoin: Weekly Overview April 8 - Yahoo Finance - April 9th, 2021
- BIGtoken to Host Webinar on Thursday, April 15, 2021 to Discuss Bitcoin 2021 and Beyond - Business Wire - April 9th, 2021
- Kevin OLeary says he will only buy bitcoin mined with clean energy, and none mined in China - CNBC - April 9th, 2021
- Ripple Granted Access to SEC Documents on Bitcoin, Ether in Ongoing XRP Fight - Yahoo Finance - April 9th, 2021
- Why the Market is Thinking About Bitcoin Differently - Visual Capitalist - April 9th, 2021
- Texas A&M Mays Innovation Research Center To Host Bitcoin Conference April 16-17 - Texas A&M University Today - April 9th, 2021
- Economist Says Bitcoin Isn't Too Big to Fail Warns BTC Can Only Establish Itself if Governments Allow It Regulation - Bitcoin News - April 9th, 2021
- More companies are accepting bitcoin, including PayPal and Xbox - Business Insider - April 9th, 2021
- Bitcoin And Crypto Market Smashes Through $2 Trillion As The Price Of Ethereum, Binance Coin, Litecoin And Ripples XRP Suddenly Soar - Forbes - April 9th, 2021
- Bitcoin: The Aperture Of Money - Bitcoin Magazine - April 2nd, 2021
- Chipotle is giving away burritos and Bitcoin. Heres how to play - WBTW - April 2nd, 2021
- Ether Rises to Record as Crypto Rally Broadens Beyond Bitcoin - Bloomberg - April 2nd, 2021
- Chipotle giving away $100,000 in free burritos and $100,000 in Bitcoin today - syracuse.com - April 2nd, 2021
- Will Bitcoin Ever Become Truly Mainstream? - Motley Fool - April 2nd, 2021
- CoinShares Partners With Canadas 3iQ to Launch New Bitcoin ETF on TSX - Yahoo Finance - April 2nd, 2021
- Could Bitcoin Solve The Oil Flaring Problem? - Yahoo Finance - April 2nd, 2021
- Irish Police Investigate Massive Bitcoin Scam That Allegedly Stole Millions From High-Net-Worth Individuals News Bitcoin News - Bitcoin News - April 2nd, 2021
- Why Is Ethereum Surging, Outperforming Bitcoin Today? - Benzinga - April 2nd, 2021
- Bitcoin miners and fracking companies are working together - Quartz - April 2nd, 2021
- Bitcoin Unleashes The Sovereign Individual - Bitcoin Magazine - April 2nd, 2021
- Bitcoin Cash (BCH): Hows It Differ From Bitcoin and Whats It Worth? - Yahoo Finance - April 2nd, 2021
- BNY Mellon Report Compares Bitcoin and Gold, Study Says 'Gold Is the Only Globally Accepted Currency' Economics Bitcoin News - Bitcoin News - April 2nd, 2021
- Bitcoin's Got Talent crew talks Bitcoin culture and development on CoinGeek Weekly Livestream episode 8 - CoinGeek - April 2nd, 2021
- The Power of ETH and BCH: Smart Bitcoin Cash Project Highlights Innovative Sidechain Technology Bitcoin News - Bitcoin News - April 2nd, 2021
- Bitcoin uses as much energy as Sweden and is on course to use even more - Business Insider - April 2nd, 2021
- A Crypto Exchange Weighs Going Public. Bitcoin Is Just That Hot. - Barron's - March 31st, 2021
- Cathie Wood On Bitcoin: '$1 Trillion Is Nothing Compared To Where This Will Ultimately Be' - Yahoo Finance - March 31st, 2021
- Marathon Digital Holdings to Launch the First North American-Based Bitcoin Mining Pool, Fully Compliant with U.S. Regulations - Yahoo Finance - March 31st, 2021
- Bitcoin for Babe Ruth? Sports auction house will accept crypto - Aljazeera.com - March 31st, 2021
- Bitcoin ETF Proposals: The SEC's Long History Of Rejections - Benzinga - March 31st, 2021
- Spanish Island Government Decides to Sell Its Bitcoin Investment by Citing 'Ethical' Reasons News Bitcoin News - Bitcoin News - March 31st, 2021
- If History Is Any Indication, $200,000 Bitcoin Is Coming In 2021 - Bitcoin Magazine - March 31st, 2021
- Here's When the Winklevoss Twins First Discovered Bitcoin - The Motley Fool - March 31st, 2021
- HashWatt.io - HashWatt Sustainable Bitcoin Mining and Captive ESG Energy Development Company announces completion of 2nd financing round to expand... - March 31st, 2021
- Bitcoin draws millions of workers sending their money abroad - Quartz Africa - March 31st, 2021
- Everything you need to know about bitcoin and the crypto revolution underway - MarketWatch - March 31st, 2021
- ARK Invest CEO Cathie Wood On Bitcoin: "$1 Trillion Is Nothing" - Bitcoin Magazine - March 31st, 2021
- Ray Dalio: The government 'outlawing bitcoin is a good probability' - CNBC - March 26th, 2021
- Bitcoin draws millions of workers sending their money abroad - Quartz - March 26th, 2021
- Jack Dorsey wants the entire world to know hes got a bitcoin clock - The Verge - March 26th, 2021
- Bitcoin options worth $6bn expiring today: What does it mean for investors? - Mint - March 26th, 2021
- One Ultra-Rare Metal Is Doing Much Better Than Bitcoin This Year - Bloomberg - March 26th, 2021
- Dalio on Bitcoin: 'Good Probability' It Will 'Outlawed' by US Gov - CoinDesk - CoinDesk - March 26th, 2021
- Bitcoin ETF The race to follow the trend - Mint - March 26th, 2021
- Bitcoin, crypto investors will be watching these 5 questions facing the Biden administration - MarketWatch - March 26th, 2021
- Guide: What is Bitcoin and how does it work? - CBBC Newsround - March 25th, 2021
- Bitcoin could surge to $300,000 but winter could last for years when the bubble bursts, says crypto entrepreneur - CNBC - March 25th, 2021
- Bitcoin (BTC) ETF: Fidelity Applies for Fund That Tracks the Cryptocurrency - Bloomberg - March 25th, 2021
- Wall Street banks diverge in views on bitcoin boom - Financial Times - March 25th, 2021
- Good probability the U.S. will outlaw bitcoin: Ray Dalio - Yahoo Finance - March 25th, 2021
- Bitcoin volatility is here to stay, top technician warns - CNBC - March 25th, 2021
- Blockchain.com Raises $300 Million as Investors Find Other Ways Into Bitcoin - The Wall Street Journal - March 25th, 2021
- NYDIG Cuts Total Cost of Bitcoin Access to 0.30% - PRNewswire - March 25th, 2021
- Norway is the worlds most cashless country but its central bank isn't keen on bitcoin: 'It doesnt preserve stability' - CNBC - March 25th, 2021
- Bitcoin-Based DeFi Project Sovryn Near Agreement on $10M Investment From Pomp - Yahoo Finance - March 25th, 2021
- Mystery Whale Moves 20 Bitcoin Block Rewards from 2010, Entity Moved 10000 BTC Since Last Year Featured Bitcoin News - Bitcoin News - March 25th, 2021
- Bitcoins, coming soon to an ATM near you? - CBS News - March 25th, 2021
- Bitcoin Is All the Rage, But DeFi Could Be Even Bigger - ETFdb.com - ETFdb.com - March 25th, 2021
- Bank Of America Calls Bitcoin 'Impractical,' And Crypto Community Has A Lot To Say About That - Yahoo Finance - March 25th, 2021
- Stock Market Today With Jim Cramer: Tesla and Bitcoin - TheStreet - March 25th, 2021
- Bitcoin, Tesla And GameStop: Ten Numbers That Sum Up The Fastest Market Recovery Ever - Forbes - March 25th, 2021
- 'Demand to surge': Expert's $70,000 Bitcoin prediction - Yahoo Finance Australia - February 12th, 2021
- Uber wont buy bitcoin with its cash but would consider accepting it as payment, CEO says - CNBC - February 12th, 2021
- Beyond Bitcoin: The wild world of altcoin cryptocurrency trading - CNET - February 12th, 2021
- Long-awaited bitcoin ETF could finally get approved this year, market analyst says - CNBC - February 12th, 2021
- Bitcoin outlook: the long term picture looks very sound - Yahoo Finance - February 12th, 2021
- Fintech giant Adyen says it has no interest in bitcoin as a payment method and clients aren't asking for it - CNBC - February 12th, 2021
- Dollar headed for weekly loss, bitcoin hits record $49,000 - CNBC - February 12th, 2021
- 7 public companies with exposure to bitcoin - Yahoo Finance - February 12th, 2021
- Not Just Bitcoin, Paypal's Vision Involves Central Bank Digital Currencies Too: What You Need To Know - Yahoo Finance - February 12th, 2021
- The Grayscale Bitcoin Trust: What It Is and How It Works - Yahoo Finance - February 12th, 2021
- BlockFi Launches the BlockFi Bitcoin Trust - PRNewswire - PRNewswire - February 12th, 2021