#Mining hash calculator how to#
#Mining hash calculator software#

Read more on the topic in our article вЂњASIC vs. Only Bitcoin could be better than Ethereum, but you need special ASIC devices to mine Bitcoin, and such devices become obsolete in just a year. It is supported by a billion wallets and exchanges, and you can always exchange it at the best rate. Ethereum is the second most popular coin in the world. If several coins are equally profitable and you have doubts, choose Ethereum if itвЂ™s available.

#Mining hash calculator how to#

Here is what the How to Start Mining page of the Ethereum pool looks like. It will take you the same amount of time to actually set up your equipment. It also has a video tutorial on mining setup thatвЂ™s only 2вЂ“3 minutes long.

#Mining hash calculator software#

Each poolвЂ™s How to Start Mining page tells you which software you need to download and how to get a cryptocurrency wallet. If you are satisfied with the result and interested in mining, the next step is to find the most profitable coin for your graphics card. We have already explained above how you can estimate your electricity cost.

Remember that the calculator doesnвЂ™t count electricity. On the same page you can see the payback period if a graphics card mines 24/7. If you mine with it all day, it will bring $4.06.

LetвЂ™s say, you have the brand new Nvidia 3090. Mining with 3GB GPUs is close to impossible. If you donвЂ™t see your GPU on the list, it is probably too old for mining. Go to the main page, find your GPU and click on it. YouвЂ™ve heard that people use GPUs for mining, but never tried it out. LetвЂ™s say, you are a gamer with a cool gaming computer. Is Mining on Gaming Computers Profitable? This way, you will get the accurate estimation of the payback period. If you see that the price you have is completely different, you can go to the page of a certain graphics card and enter your price there. The pricing will not always correspond to the place where you live. Here you can find approximate payback periods, prices, and mining profitability. 2CryptoCalc has a page dedicated to the most profitable GPUs. But there are too many factors: prices, brands, availability, etc. LetвЂ™s say, you want to find out the most profitable GPU for mining. It will become a bit older, but eight GPUs and motherboard with CPU would cost no less than $650. Plus, after 203 days you will still own the same rig. But if you imagine that in the next 203 days there will be no drastic changes in the chosen cryptocurrency network and no equipment problems, the calculations are pretty accurate. Plus, the rig is old, so the PSU may fail and GPUs may break. As mentioned before, the calculator canвЂ™t predict the future. Now you might ask: вЂњAnd thatвЂ™s it? That easy?вЂќ Not quite. The rig of eight Nvidia 1070 cards consumes around 1 kWh, or 24 kWh per day. If you have no idea how much energy the rig can consume, google it or search in this Telegram chat about hardware. Your friend that is selling the rig will likely give you all the numbers. How much electricity does the rig consume? It depends on the number of GPUs and the algorithm. Go to 2CryptoCalc and enter required values to get the latest data. 1 kWh may cost you $0.1, $0.05, or almost $0.01.ДЄll calculations were done at the time of writing. Remember that the calculator doesnвЂ™t count electricity and other expenses. The calculator shows that the rig profitability is $8.00 per day. We look for the GTX 1070 on the main page and indicate the number of GPUs, eight in our case. Would you buy it? How would you know if you need it? At the same time, you are thinking of becoming a miner. He said that he had used it for three years, it had paid off long ago. LetвЂ™s say, your friend is selling a rig of eight Nvidia 1070 graphics cards. It doesnвЂ™t know the price of Ethereum tomorrow or how many new miners will join the industry in a week. Remember that the calculator is not a fortune teller. If you havenвЂ™t bought a graphics card or other mining equipment yet, 2CryptoCalc will help you evaluate mining profitability.

Is Mining on Gaming Computers Profitable?.