If you’re thinking the days of GPU mining are long gone, you would be awfully remiss. GPU mining is still prevalent in a number of the top cryptocurrencies thanks to ASIC-resistant algorithms constantly being updated. To help GPU miners get the biggest bang for their buck and increase their chances of landing the next block reward, AMD has unveiled its brand-new Radeon VII. It’s more than 30% more powerful than the next best GPU in terms of hash rate as well as more energy efficient. Could this be the ultimate GPU for mining cryptos? For now, we think so!
Packing a Huge Punch
Currently, the best GPU can pump out a massive 69MH/s – which isn’t all that bad considering many of the ASIC-resistant network hashrates. However, the Radeon VII can produce 90 MH/s out of the box, which can be increased to 100 MH/s with some fine tuning and adjustments. To help it achieve this, it has increased its memory bandwidth of 1 TB/s and 16 GB High Bandwidth Memory (HBM2) – a pretty awesome feat of engineering. Until now, the NVIDIA Titan V was considered to be the top dog in GPU mining, with a price tag of $2,999. However, the Radeon VII packs more power and efficiency for a smaller price tag, coming in at just $699. All of these factors will make it the go-to GPU card for GPU miners.
NVIDIA Struggling with GPU Mining
NVIDIA is currently taking a bit of a hammering from investors as its GPUs continue to fall well below sales targets. Despite its Titan V being considered the best GPU for crypto mining, its huge price tag put off a lot of miners. This caused a slump in sales and a barrage of lawsuits to head NVIDIA’s way. However, NIVIDA recently claimed that its surplus of GPUs for crypto mining has nearly cleared, meaning it can start work on its next generation of GPUs. It’s going to take some effort to beat the AMD Radeon VII, but if anyone can beat it, it’s NVIDIA.
GPU rigs are vital to the success of popular crypto networks such as Ethereum and Monero – making the new Radeon VII a popular purchase for alt miners. These rigs are pointless to run Bitcoin mining operations on due to the prevalence of ASIC miners, but on alt networks they can turn a good profit. As AMD steps up its game, alt blockchain networks wil become more secure and safer than ever before,