Crypto Stashed, an online company whose purpose is to instruct others on the utilities of Cryptocurrencies, has published a new blog entry discussing the best Graphics Processing Units (GPUs) that can be used to mine the Monero altcoin. With this post, the company adds to a growing library of articles on the best coins to mine purely with the CPU, as well as the differences between an Altcoin mining machine and a traditional mining setup.
While the subject of Cryptocurrency mining has lost steam compared to a time when it was more profitable, and therefore more popular, the company asserts that it is still a very fruitful activity. Given that cryptocurrency has passed its peak popularity, Crypto Stashed explains that a deeper understanding of the basics of this activity is required to be successful as a modern miner. They state that, if adequate equipment is used to mine specific coins, mining can be just as profitable as it was during the industry’s previous bloom.
Brian Rudderow, a representative of the company and author of the Crypto Stashed Monero Mining guide, states, "Understanding the differences between the various cryptocurrencies, and what makes one more profitable than the other, is a crucial part of making a profit as a miner. This is especially noteworthy considering that mining is not as easy as it used to be. A couple of years ago, you could use any hardware to mine the coin of your preference and still make a significant profit out of it. Nowadays, you need to be more careful with choosing your hardware, and there are specific pieces that will determine the most profitable currencies that you can mine."
As the company notes, the hardware needed to mine a specific coin is largely dependent on the complexity of the algorithm that is used to mine it. The Monero Altcoin utilizes an algorithm called "Cryptonight," which is incidentally one of the most challenging and complex algorithms, as it requires some of the best GPUs available in order to function correctly. However, this complexity is justified by the advantages that this algorithm offers, as it is a unique algorithm that, unlike others, takes full advantage of the machine's CPU and GPUs. The combination of these benefits makes Monero Altcoin one of the most profitable mining scenes today. However, it also means that there are additional factors to consider when choosing the hardware for a mining machine. Crypto Stashed outlines these factors in their article, along with their recommendations.
The minimum requirement to mine Monero Altcoin includes a Motherboard with enough PCIe slots to fit multiple GPUs, 8GB of DDR3 or higher RAM, an SSD or a HDD, and a CPU that is sufficiently advanced enough to avoid bottlenecking the other hardware. Following this, Crypto Stashed makes their recommendation for the best GPUs with which to mine Monero Altcoin, outlining the benefits that each piece offers.
The first recommendation made by the experts is AMD's RX 580 model. This graphics card is a combination of raw strength and low power consumption, coming in two different versions that possess 4GB and 8GB of VRAM, respectively. While it has a low Hashrate of 20 to 30 Mh/s, this is one of the most commonly used cards to mine Monero Altcoin, producing the best quantifiable results with respect to its power consumption.
The company also recommends another set of GPUs manufactured by AMD: the Radeon RX Vega Series. These cards have a higher power consumption that the RX 580 model, though they compensate with a higher Hashrate—going up to 45 Mh/s—with up to 8GB of VRAM. A drawback of this option is its short lifespan, which can be greatly influenced by the reliability of the system’s Power Supply Unit.
Finally, Crypto Stashed recommends the Nvidia GTX 1080 Titan Series. While this is the most powerful option out of the three, these cards have also received numerous bug reports and complaints from their users for failing to function correctly. The raw power of this card still makes it the best option for those who want to buy fewer GPUs, as it possesses the most VRAM of the lot, going up to 11GBs. It is complemented by a Hashrate of 35-40 Mh/s.
In conclusion, the company states that mining Monero Altcoin can still be a very profitable activity, though hardware selections must be made carefully. They invite interested parties to visit their company website, where they host a wealth of information on mining and other topics related to cryptocurrencies.
SOURCE: Press Advantage [Link]
Crypto Stashed is an online review blog which analyzes the latest news and info in the Cryptocurrency space and outlines hot products, tech, coins, and trades for our readers.
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