At the beginning of January, I reported on the surprisingly profitable state of GPU mining. No, not dedicated cryptocurrency mining farms that require massive investment. Just the PC you already use, and the AMD or Nvidia gaming graphics card inside of it. If you didn’t jump on the money train then, prepare to have your FOMO triggered. Fast forward 6 weeks and those daily profits have jumped by 87-percent as the price of Bitcoin hovers near $50,000.
I know that “mining” has become a dirty word lately, especially due to the scarcity of new products and ridiculously inflated prices. But the computer you already have is more than capable of cranking out some cash.
Here’s a compelling fact for the PC gamers among you: a 3-year-old Radeon Vega 64 could earn you enough to buy a new full-priced game each month. Even if you only mined 8 hours per day while you sleep.
The newer your GPU and the more you run something like NiceHash, the higher those profits get, topping out at a whopping $508 per month using a single Nvidia RTX 3090.
That’s net profit, after taking electricity costs into account.
If this is your first time seeing words like “NiceHash” or even phrases like “GPU Mining,” just hit the link below for my explainer. It’s ridiculously easy to get started:
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Let’s see what monthly NiceHash profits look like as we approach the end of February. I’ve chosen a variety of Radeon and GeForce cards, most of which rank in the Top 10 most used GPUs in Steam’s recent hardware survey.
There are still tons of GTX 1060s and Radeon RX 580s in use out there, and even these aging graphics cards can make you money.
For the values below, I used the NiceHash Profitability Calculator and assumed a 0.13 USD/kWh electricity cost (that’s the national average in the US as reported by Statista), meaning you’re seeing profits after paying for the power consumption of that GPU.
(For fun, I’ve included your estimated profits if you only used your PC for mining overnight. Because hey, some of us work and/or game on our computers during the day.)
- Nvidia RTX 3090: $508 (or $169 while you sleep)
- Nvidia RTX 3080: $421 (or $140 while you sleep)
- Nvidia RTX 3060 Ti: $260 (or $86 while you sleep)
- Nvidia RTX 2070 Super: $184 (or $61 while you sleep)
- Nvidia RTX 2060 Super: $179 (or $59 while you sleep)
- Nvidia GTX 1080 Ti: $189 (or $63 while you sleep)
- Nvidia GTX 1070: $125 (or $41 while you sleep)
- Nvidia GTX 1060 (6GB): $100 (or $33 while you sleep)
The majority of these cards could earn you enough cash to buy a new game every month, even if you’re only renting out your hashing power while you sleep
- Radeon VII: $392 (or $130 while you sleep)
- Radeon RX 6800 XT: $276 (or $92 while you sleep)
- Radeon RX 5700: $226 (or $75 while you sleep)
- Radeon RX 5600 XT: $157 (or $52 while you sleep)
- Radeon RX Vega 64: $189 (or $63 while you sleep)
- Radeon RX 580 8GB: $129 (or $43 while you sleep)
The value of Bitcoin is in constant flux. The calculations above are based on a Bitcoin to USD exchange value of $50,024 on February 24, 2021. As the value of Bitcoin climbs, so do your potential profits. The reverse is equally true, so always exercise caution.
If you have questions about using NiceHash, here’s a great page that answers the majority of them.
Disclaimer: This is not financial advice, and I don’t recommend buying any GPUs exclusively for the purpose of mining. Costs are almost triple that of MSRP and your return on investment would take quite some time.
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