With Bitcoin having a turbulent but nonetheless impressive year, people are still considering Bitcoin mining, but is it still profitable using your PC at home? Using your home rig to mine can actually prove to be quite profitable if done correctly, especially if you’re using the most up to date hardware.
There has never been more ways to obtain Bitcoin in 2021, from free surveys by online wallets to playing computer games and trading the rewards for Bitcoin. This is something commonly found in Counter-Strike: Global Offensive. Some of the skins you can unbox in the game or those found on websites can be sold for a pretty price. You can use CSGO skins to gamble on the best CSGO roulette sites, where you can then withdraw better skins or Bitcoin.
This is mostly important to PC gamers that intend to develop their own rig in a retail landscape, which has witnessed the huge inflation of graphics cards from Nvidia and AMD. However, people who are in possession of a gaming PC already, might be amazed at the amount of money they might be able to generate by mining the cryptos with the PC, even when it does not take much effort.
Now, the story is that when we first started mining as far back as in 2013, it was very difficult to get a client up and running. Some of the most difficult challenges were the basic knowledge of terminal commands and Linux. But to get up and running with NiceHash on Windows PC can be done with little or no effort, and in record time.
The absence of messy configurations, command lines, even though they are still available for those who prefer them, makes things even easier. All you need is an installer, and then some fast auto benchmarks, and your computer will get to work. It is so simple and effective that you will be generated a Bitcoin wallet by the software, and it also allows you to enjoy automatic mining while your PC is idle.
3 Essential things about
One thing you must have at the back of your mind is that no advice should be swallowed hook line and sink and stuck to blindly. That is why you should read our notes before you delve into this. One of the best budget gaming pc for Fortnite can be used also to gain more bitcoins by using this device.
The first thing you should know is that NiceHash never uses the hardware of your PC for the mining of Ethereum, Litecoin, Bitcoin and other cryptos. What you do is to sell the hashing power of your PC to other miners, and they mine those coins with it, adding to the combined power of a pool. The reward you get for this is that you get paid in Bitcoin at intervals by NiceHarsh. When this is done, you now have the right to move your earnings to any exchange of your choice like coinbase, and purchase crypto coins with it if you so wish or cash it out through a bank account if that’s what you prefer.
Now, your hashrate or the possible mining power of your GPU is regularly being directed to the crypto coin that is the most popular. So, it’s a hands-off exercise. When you update your drivers or before you do your first launch, your GPU hash rates will be benchmarked by the software for a number of algorithms that work with these coins. From time to time after that, it will auto switch to the most profitable of them all and you can see and experience this at WhatToMine.com. The meaning of this is that even without investing in speculation and constant research; you still maximize your profit. We all value time, but if you want to become a serious miner, NiceHash may not be the best place for you. With the use of alternative drivers, undervolting, overclocking, command line based clients, and GPUs BIOS, users can get hold of higher hashrates, which translates into higher profits. But if you want to start generating a profit by just clicking a button, then the easy route is NiceHarsh.
How much can you make with your GPU?
It is now time to talk about money, and you need to concentrate. With the help of the NiceHash Profitability Calculator, and assuming a 0.13 USD/kWh electricity cost based on the December 2020 national average in the US, we calculated the profits, implying that your gains are calculated after paying for the power consumed by your GPU for the mining. The incontrovertible fact is that your mileage may vary, and if you have a cheaper electricity supply than what is written above, that’s another added profit for you.
The value of Bitcoin keeps changing, and we made the calculation based on the rate of Bitcoin to USD exchange as at the 5th of January 2020, which is $31,392.98. With the rise in the value of Bitcoin, your potential profits also increase, and vice versa.
But it will be good for us to point out that in January 2018, that’s 3 years ago, one Bitcoin was sold for about $11,000 only.
We’ve listed only the GPUs that were tested in the firm’s lab, and gotten from actual or real profit numbers from users. They are not estimates.
We can vouch that the RTX 2080, Radeon RX 6800 XT, and Radeon VII are accurate.
Monthly Profit for Some Randomly Picked Nvidia GeForce Cards
Nvidia RTX 3080: $225.90
Nvidia RTX 3070: $138.60
Nvidia RTX 3060 Ti: $136.80
Nvidia RTX 2080 Super: $89.40
Nvidia RTX 2070 Super: $94.50
Nvidia RTX 2060 Super: $95.10
Nvidia GTX 1080 Ti: $107.40
Nvidia GTX 1080: $80.70
Nvidia GTX 1070: $66.30
While it is not advisable to buy GPUs for the singular purpose of mining, because the cost will exceed the MSRP, and it will take a very long time to get your ROI, the best overall value currently seems to be the 3060 Ti. So you can get hold of one if you can find it.
Monthly Profit for Some Randomly Picked AMD Radeon Cards:
Radeon VII: $211.20
Radeon RX 6800 XT: $147
Radeon RX 6800: $145.80
Radeon RX 5700 XT: $126
Radeon RX 5600 XT: $85.20
Radeon RX Vega 64: $98.40
Radeon RX Vega 56: $77.70
Radeon RX 580 8GB: $67.80
From all indications, even when you don’t want to admit it, the king of computers is still the Radeon VII, and the last generation of AMD’s RX 5000 series is also doing excellently well. Even Polaris cards like RX 480/580 also put up excellent performance, so far as they are the 8GB VRAM models.
Let’s Talk About CPUs
Higher end CPUs can also be used, as they are handy for NiceHash in mining monero and converting it to BTC. But this will make your PC unusable for normal daily tasks. If you are not making use of the newer AMD Ryzen Threadrippers, the less than $.050 daily profit that comes from most CPUs is not worth the trouble.
What about Gaming Laptops?
You can make use of NiceHash on your gaming laptop, but it does not mean that you must. If you want to try it as a chosen option, then you should not put your GPU and CPU to work at the same time to avoid throttling and thermal problems. Most of the gaming laptops are not equipped with full fat GPUs.
These profit numbers will continue to swing for you, especially because you will be making use of your rig, and not reserve it for mining alone. One more thing, if you have a GPU that is not in use, you can slot it into your PC and instruct NiceHash to work with that, and not your dedicated gaming GPU. It will always be better for your spare GPU to be making Bitcoin for you instead of lying fallow and assimilating dust.