The world of cryptocurrency mining is booming, and choosing the right GPU for your mining rig is crucial.
In this article, we will explore the best budget GPU options for mining crypto in 2023, as well as the overall best GPUs for mining in 2023.
What Is a GPU for Mining?
A GPU, or Graphics Processing Unit, is a specialized computer processor designed to handle complex graphics and visual data.
In the world of cryptocurrency mining, GPUs are used to perform the mathematical calculations required to solve blocks in a blockchain network and earn rewards in the form of digital currency.
GPUs are preferred over regular CPUs because they can solve these calculations much faster and more efficiently, increasing the potential for mining profitability.
AMD GPUs vs Nvidia GPUs: Which One Are Better?
Before we dive into the best budget GPUs for mining, let’s address the ongoing debate between AMD and Nvidia GPUs.
Both manufacturers have their own strengths and weaknesses. Nvidia currently dominates the market share, but AMD GPUs are known for their high core count and good price-performance ratio.
AMD GPUs tend to have higher power consumption, but their lower cost can offset this compared to Nvidia GPUs, which are known for their efficient power consumption and excellent performance.
Ultimately, the choice between AMD and Nvidia GPUs depends on your specific needs and priorities, such as budget, power consumption, and performance.
The Best Budget GPU for Mining in 2023
Now, let’s explore the best budget GPUs for mining crypto in 2023. These GPUs offer a balance of price and performance, making them ideal for miners on a budget.
In terms of the best budget GPU, it was taken into account that the GPU shouldn’t cost more than $400 when making this top list.
1- AMD Radeon RX 5700
- Release: July 2019;
- Base Frequency: 1465 MHz;
- Boost Frequency: 1725 MHz;
- Typical Board Power (Desktop): 180 W;
- Max Memory Size: 8 GB;
- Max Memory Bandwidth: 448 GB/s;
- Memory Type: GDDR6;
- Price: ≈$349.
The AMD Radeon RX 5700 is ranked first on our list of the best budget GPUs for crypto mining in 2023. This GPU is currently regarded as the top choice for cryptocurrency mining and provides good performance for its cost.
The AMD Radeon RX 5700 provides a productive and affordable choice for cryptocurrency miners with an Ethash of 50.27 MH/s and a low power demand of 112W. It works as well as GPUs that cost more money, making it a clear winner in its price range.
If you’re searching for a budget-friendly GPU for crypto mining, the best inexpensive GPU for mining, or the best AMD GPU for mining, the AMD RX 5700 is the way to go. With its excellent performance and low power consumption, it’s a terrific investment for any miner trying to maximise their results.
2- AMD RX Vega 56
- Release: Q3 2017;
- Base Frequency: 1156 MHz;
- Boost Frequency: 1471 MHz;
- Typical Board Power (Desktop): 210 W;
- Max Memory Size: 8 GB;
- Max Memory Bandwidth: 410 GB/s;
- Memory Type: HBM2;
- Price: ≈$399.
A popular GPU among cryptocurrency miners because of its effectiveness and performance is the AMD RX Vega 56. It can efficiently mine a number of cryptocurrencies with an Ubqhash of 31.22 MH/s and a power consumption of 84W, providing a reasonable compromise between energy consumption and mining performance.
The RX Vega 56 is a highly recommended GPU for crypto mining, especially given that its price has not been severely affected by the mining craze.
3- AMD RX 6700 XT
- Release: March 2021
- Base Frequency: 2321 MHz
- Boost Frequency: 2581 MHz
- Typical Board Power (Desktop): 230 W
- Max Memory Size: 12 GB
- Memory Bandwidth: 384 GB/s
- Memory Type: GDDR6
- Price: ≈$399.
A more recent GPU that works well for cryptocurrency mining is the AMD RX 6700 XT. It is also the most recent addition to our list of the top GPUs for mining that are also budget-friendly. In comparison to earlier models, the RX 6700 XT offers increased power efficiency, which is crucial for mining because it can result in longer mining sessions and lower electricity expenses.
With regard to mining, the RX 6700 XT is capable of processing popular cryptocurrencies like Zcash or Monero, and its enhanced performance and efficiency make it a good option for contemporary mining.
The AMD RX 6700 XT is a fantastic choice for those searching for a powerful GPU for crypto mining.
4- Nvidia RTX 2060 Super
- Release: July 2019;
- Base Frequency: 1470 MHz;
- Boost Frequency: 1650 MHz;
- Typical Board Power (Desktop): 175 W;
- Max Memory Size: 8 GB;
- Max Memory Bandwidth: 448 GB/s;
- Memory Type: GDDR6;
- Price: ≈$399.
The Nvidia RTX 2060 Super is an excellent choice for GPUs on a budget for crypto mining in 2023.
It has real-time ray tracing capabilities and is based on the Turing architecture. Additionally, compared to the RTX 2060 standard, the RTX 2060 Super has a faster clock speed and more memory.
For instance, the Nvidia RTX 2060 Super provides an excellent blend of performance and power consumption with an Ubqhash of 42.35 MH/s and a median power usage of 116W.
Furthermore, this GPU is an excellent pick for gamers, providing exceptional performance for the budget. It’s an excellent option for a budget gaming system and can handle demanding games at high settings.
5- Nvidia RTX 3060Ti
- Release: December 2020;
- Base Frequency: 1410 MHz;
- Boost Frequency: 1665 MHz;
- Typical Board Power (Desktop): 200 W;
- Max Memory Size: 8 GB
- Max Memory Bandwidth: 448 GB/s;
- Memory Type: GDDR6;
- Price: ≈$399.
The RTX 3060Ti is equipped with third-generation Tensor cores and second-generation RT cores from Nvidia, enabling it to handle demanding tasks like real-time ray tracing and AI-enhanced graphics.
A highly anticipated GPU for miners, the Nvidia RTX 3060Ti has enhanced performance and efficiency compared to previous models. The GPU offers an increased clock speed, 8 GB of GDDR6 memory, and Ampere architecture. Because of this, it can be used to mine cryptocurrencies like Aion, Bitcoin Gold, and Zcash.
Using the Equihash (210.9) algorithm to mine Aion, this GPU will have a hashrate of around 298.5 H/s and a power consumption of 124W. Additionally, Ubqhash, which is a profitable GPU at the time of writing and mining through the examples above, has a hashrate of 31.22 MH/s and a power consumption of 84W.
This GPU is excellent for gaming as well because of its ray-tracing capabilities.
6- AMD RX 480
- Release: June 2016;
- Base Frequency: 1120 MHz;
- Boost Frequency: 1266 MHz;
- Typical Board Power (Desktop): 150 W;
- Max Memory Size: 4 GB;
- Max Memory Bandwidth: 224 GB/s;
- Memory Type: GDDR5;
- Price: ≈$229.
The AMD RX 480 is an older GPU that was popular among miners when it was released in 2016. It was well-received for its excellent performance and minimal power usage, making it a reasonable choice for cryptocurrency mining.
It is a factor to consider if you wish to mine crypto using budget GPUs, even though it is not an exceptional GPU in comparison to 2023 technology. Utilising the Ubqhash algorithm, AMD RX 480 can achieve a hashrate of 25.78 MH/s while using only 69W of power.
Best GPU for Mining in 2023
Next, let’s look at the best GPUs for mining in 2023 overall. These GPUs provide top-of-the-line performance and are suitable for miners who are willing to invest more.
1- Nvidia RTX 3090
- Release: September 2020;
- Base Frequency: 1400 MHz;
- Boost Frequency: 1700 MHz;
- Typical Board Power (Desktop): 350 W;
- Max Memory Size: 24 GB;
- Max Memory Bandwidth: 936 GB/s;
- Memory Type: GDDR6X;
- Price: ≈$1499.
A top-tier GPU that provides great performance is the Nvidia RTX 3090.
The Nvidia RTX 3090 is most likely the most expensive card in this list and one of, if not the best, GPUs currently available for cryptocurrency mining.
With its 48.61 MH/s hashrate on the RVN – KawPow algorithm, the NVIDIA GeForce RTX 3090 has the potential to earn over $16.35 per month in terms of mining capacity.
Furthermore, this GPU has been increasingly suggested online by a variety of enthusiastic or expert miners.
2- Nvidia RTX 3060 Ti LHR
- Release: May 2021;
- Base Frequency: 1410 MHz;
- Boost Frequency: 1770 MHz;
- Typical Board Power (Desktop): 220 W;
- Max Memory Size: 8 GB;
- Max Memory Bandwidth: 448 GB/s;
- Memory Type: GDDR6;
- Price: ≈$450.
The Nvidia RTX 3060 Ti LHR is an excellent GPU that is ideal for cryptocurrency mining. Its high hash rate is one of the most important advantages of using this GPU for cryptocurrency mining. With higher processing capability than comparable GPUs in its class, the RTX 3060 Ti LHR enables you to mine cryptocurrencies quickly and effectively.
For instance, this GPU produces a hashrate of 24.63 MH/s when mining Ravecoin with the KawPow algorithm, which can bring you $8.34 per month.
Additionally, despite being under a lot of load, the GPU is kept stable and functional by its sophisticated cooling system.
Additionally, the GPU is power-efficient, allowing you to achieve high hash rates while using less electricity.
The Nvidia RTX 3060 Ti LHR is a robust and adaptable GPU that delivers outstanding performance for cryptocurrency mining, making it a perfect option for both professionals and enthusiasts.
3- Nvidia RTX 3070 LHR
- Release: May 2021
- Base Frequency: 1500 MHz;
- Boost Frequency: 1815 MHz;
- Typical Board Power (Desktop): 220 W;
- Max Memory Size: 8 GB;
- Max Memory Bandwidth: 448 GB/s;
- Memory Type: GDDR6;
- Price: ≈$499.
The Nvidia RTX 3070 Ti LHR, a brother of the Nvidia RTX 3060 Ti LHR, must be given an important position on this list.
This card released at the same time as the Nvidia RTX 3060 Ti LHR and is essentially the same card with a somewhat higher frequency.
For instance, this GPU generates a hashrate of 34.08 MH/s when mining Ravecoin with the KawPow algorithm, which can bring you $11.46 per month.
The Nvidia RTX 3070 Ti LHR is a decent option for mining because it is neither overpriced ($50 more expensive than the Nvidia RTX 3060 Ti LHR) nor excessively expensive, and it also has a frequency that should be taken into account.
4- Nvidia RTX 4080
- Release: September 2022
- Base Frequency: 2205 MHz
- Boost Frequency: 2505 MHz
- Typical Board Power (Desktop): 320 W
- Max Memory Size: 16 GB
- Max Memory Bandwidth: 716.8 GB/s
- Memory Type: GDDR6X
- Price: ≈$1199
In terms of cryptocurrency mining, the NVIDIA RTX 4080, which was released late last year, has already yielded some promising results.
With an average power usage of 250W and a hashrate of 122.00 MH/s while using the NexaPow algorithm, this GPU generates around $12.9 per month.
Although it has yet to be employed on a large scale due to its recent launch, it offers immense promise. It can provide significant profits depending on other costs such as electricity.
5- AMD RX 6800 XT
- Release: November 2020;
- Base Frequency: 1825 MHz;
- Boost Frequency: 2250 MHz;
- Typical Board Power (Desktop): 300 W;
- Max Memory Size: 16 GB;
- Memory Type: GDDR6;
- Price: ≈$649.
The AMD Radeon RX 6800 XT was released on November 18, 2020, but it was so popular that it sold out in just one day. On some marketplaces, the shortfall caused prices to soar, with some vendors raising their rates by as much as 100%. The RX 6800 XT is still a very popular graphics card, especially for cryptocurrency mining, despite its restricted supply.
With a hashrate of 30.82 MH/s on the RVN – KawPow (NBMiner) algorithm, the RX 6800 XT is able to earn an eye-catching $10.44 a month.
This GPU specialises at mining the cryptocurrencies Ravencoin and Beam, which are among the most profitable coins to mine with AMD graphics cards.
Therefore, the RX 6800 XT is a top-performing GPU that provides outstanding results for cryptocurrency miners, despite the fact that it can be difficult to find due to its limited availability and high demand.
6- Nvidia GTX 1080
- Release: May 2016;
- Base Frequency: 1607 MHz;
- Boost Frequency: 1733 MHz;
- Typical Board Power (Desktop): 180 W;
- Max Memory Size: 8 GB;
- Max Memory Bandwidth: 320 GB/s;
- Memory Type: GDDR5;
- Price: ≈$599.
In May 2016, the Nvidia GTX 1080 was released as the company’s flagship graphics card. Before the release of the 1080 Ti, it was the company’s top-performing GPU for almost a year.
Even though this GPU has been around for a while, due to its performance and compatibility with a variety of mining algorithms, it is still a popular choice for some users in the crypto-mining industry.
High computing power, which can provide a good mining hash rate for some algorithms, is one of the GTX 1080’s main advantages for crypto mining.
Therefore, those who wish to mine cryptocurrencies and are seeking for a GPU that offers decent performance, compatibility, and affordability may choose the Nvidia GTX 1080.
What To Consider When Buying a GPU for Crypto Mining?
When it comes to improving your cryptocurrency mining rig, several essential aspects are required to maximize your investment and generate the best return. The following are the main factors to think about when selecting a GPU for cryptocurrency mining:
Investment Cost – The GPU’s price is one of the most important things to think about because it has a big impact on your overall investment and possible profits. Think about the cost of the GPU in relation to the estimated returns from mining, taking into account things like electricity prices and market conditions.
Hardware Compatibility – Verify that the GPU you select is compatible with the motherboard, power supply, and storage on your system.
Hashrate Potential – The higher the hashrate, the faster and more efficient the GPU will be in solving mathematical puzzles and earning rewards.
Energy Efficiency – When it comes to cryptocurrency mining, electricity bills can rapidly pile up, therefore it’s crucial to get a GPU that is energy efficient. Take into account the GPU’s power usage, efficiency, and potential hashrate as well as the price of electricity in your location.
By taking into account all of these factors, you may choose the optimal GPU for your cryptocurrency mining needs.
Conclusion
It’s important to note that the cryptocurrency mining landscape is constantly evolving, and new GPUs may be released in the future that could offer even better performance and efficiency.
Additionally, mining profitability depends on various factors such as cryptocurrency prices, network difficulty, and electricity costs. Therefore, it’s crucial to do thorough research and consider these factors before investing in GPUs for mining.
Remember to also consider the availability and pricing of GPUs, as the market can be influenced by supply and demand dynamics.
