CryptoCurrency Mining With GPU Is Profitable Again – Here’s How
It’s been a while since the Ethereum Merge.
And we all know it was a tough period for miners.
Well, the new crypto spring is here, and at least for now, GPU mining is profitable again.
Crypto and Bitcoin mining with GPU is not super profitable right now, but the situation is much better than until recently.
As mentioned here, on September 17, 2022(right after the Merge), one 3080Ti with $0.1/kWh would earn you just two cents per day.
Today, as I’m writing this article on April 4, 2023, one 3080Ti is earning $1.76 per day with the same electricity cost.
This is not a crazy amount of money like we’re used to in bull markets, but still 88x from the worst days that happened not so long ago!
What to mine with GPU in 2023?
Ethereum mining is gone for good(or bad if you ask me).
And Bitcoin mining difficulty skyrocketed several years ago, so we can’t mine Bitcoin either(with GPUs, we certainly can with ASIC machines for Bitcoin mining).
But, this recent crypto spring has brought to attention a few new cryptocurrency projects.
They have jumped enough to make GPU mining profitable again.
I think they are worth our attention, don’t you agree?
The absolute winner in almost all Nvidia and many of the AMD GPU mining.
Radiant is a new coin that appeared around the end of 2022.
By checking its stats, you can draw some parallels with Bitcoin, which Radiant tries to compete with(good luck with that!).
Yet, it looks interesting and I would suggest you check it out.
Be careful though, even though it’s the most profitable coin to mine right now, it has a market cap of just $14,756,998.
This means that this coin price can be manipulated by a single whale, and can go either way.
Total supply of 21 billion, with a halving time of 2 years.
The current supply of 4,988,276,439 RXD.
5-minute block times.
SHA512 mining algorithm.
8 decimal places(like Bitcoin), and the smallest part is called photon(like Bitcoin’s satoshi).
How to mine Radiant(RXD)?
Luckily for us, there are quite a few ways to mine RDX:
- Radiator is a ccminer fork for Radiant SHA-512/256 and Novo SHA-256t
- RadBFGMiner is a fork of the famous BFGMiner that can be used to mine Radiant
- And if you already have any of them, you can mine RDX with SRBMiner, Wildrig or BZminer
Whichever mining software you choose to mine Radiant, make sure to download the latest version, as older versions may not have the support for RDX mining.
And if you need some help choosing the best mining pool for Radiant, I suggest you start here.
How much can you earn while mining Radiant?
It depends on your electricity price, RDX price, and block reward.
At the moment of writing, here are the top 5 GPUs for Radiant mining:
- NVIDIA GeForce RTX 4090 – $4.14 revenue per day / $3.54 profit per day(electricity price $0.1/kWh)
- AMD Radeon RX 7900 XTX – $2.43 / $1.78
- NVIDIA GeForce RTX 4080 – $2.25 / $1.50
- NVIDIA GeForce RTX 4070 Ti – $1.77 / $1.48
- NVIDIA GeForce RTX 3090 Ti – $1.72 / $1.17
Nexa is also a relatively new coin that launched on 21.06.2022.
It was built and is maintained by Bitcoin Unlimited, an organization that many know for its work with Bitcoin and Bitcoin Cash.
Nexa is listed on around 7 exchanges so far and the wallet support looks good.
It has a current supply of 2.45286 trillion, which will grow to 21 trillion over the next 140 years.
Nexa’s current market cap is around $68.78 million, and it claims a capacity of >100,000TPS(transactions per second).
The mining algorithm is NexaPow.
How to mine Nexa(NEXA)?
Nexa can be mined with both AMD and Nvidia GPUs.
When it comes to software, you have several ways to choose from.
By far the easiest is to use Kryptex, which has a GUI app that allows you to mine NEXA(at periods when more profitable than other cryptos), and pay you in Bitcoin.
You can also use a Kryptex pool through which you can mine and get paid directly in NEXA.
And if you want to mine NEXA through a pool(Kryptex or some other), any of this cryptocurrency mining software should work:
How much can you earn while mining NEXA?
As with any other coin, it depends on several factors, but here are today’s stats(without electricity cost, which is around 20%-30% at $0.1/kWh):
- NVIDIA GeForce RTX 4090 – $3.53/day
- NVIDIA GeForce RTX 4080 – $2.25/day
- NVIDIA GeForce RTX 4070 Ti – $1.73/day
- NVIDIA GeForce RTX 3090 Ti – $1.72/day
- NVIDIA GeForce RTX 3090 – $1.67/day
ALPH whitepaper was released in February 2019, while the mainnet has launched in November 2021.
But only with the recent jump in price(3x since February of 2023), it has become appealing to miners looking to mine this cryptocurrency with GPUs.
The Alephium network is secured with Blake3.
At the moment of writing, the price of ALPH is $0.3198.
It has a circulating supply of 37,390,373 ALPH and the max supply is capped at 1,000,000,000 ALPH.
The market cap is $11,927,889, which is quite low, so be careful when deciding whether to mine this coin.
How to mine Alephium(ALPH)?
There is a nice official guide on creating a wallet for ALPH and mining here.
It can be mined with either AMD or Nvidia, and there is a separate mining software for each of them.
Apart from their dedicated mining software, we can also use a few apps that we covered on this website already:
ALPH can also be dual-mined along with ETC, so that’s something to check and test as well.
How much can you earn while mining Alephium?
Here are today’s stats for mining ALPH(without electricity cost, which is around 20%-30% at $0.1/kWh):
- NVIDIA GeForce RTX 4090 – $2.4/day
- NVIDIA GeForce RTX 4080 – $1.25/day
- NVIDIA GeForce RTX 4070 Ti – $1.02/day
- NVIDIA GeForce RTX 3090 Ti – $1.34/day
- NVIDIA GeForce RTX 3090 – $1.11/day
Last but not least, KAS is at this very moment less profitable than the above options for cryptocurrency mining with GPU but has by far the biggest market cap.
It started growing rapidly in February of 2023 and has recently reached a price of almost four cents.
Kaspa is a proof-of-work cryptocurrency that also implemented the GHOSTDAG protocol allowing for fast and parallel blocks.
KAS was launched on November 7, 2021, and is protected by the kHeavyHash algorithm.
It has a block time of just one second and a circulating supply of 17.71 billion KAS.
Max supply is capped at around ~28.7 billion, and the current market cap has reached $618.6 million.
How to mine Kaspa(KAS)?
The current block reward of Kaspa is 246.94 KAS and the current network hash rate is at 763.5 TH/s.
There are several mining apps that we can use to mine Kaspa:
There are many pools for mining KAS, and I prefer the one from Kryptex.
The best thing- if you prefer a GUI app and automatic conversion of earnings to BTC, as well as mining KASPA only when it’s most profitable for your GPU, you can use the Kryptex app.
How much can you earn while mining Kaspa?
Kaspa isn’t as profitable as before mentioned coins to mine with GPU in 2023, but things change here often.
If you like Kaspa for reasons other than current profitability, it could be your way to proceed.
After all, it has a much bigger market cap than the other coins on this list.
Anyway, here’s how much you can earn today by mining KAS with some of the best GPUs on the market(without and with electricity cost at $0.1/kWh):
- NVIDIA GeForce RTX 4090 – $1.96 / $1.39
- NVIDIA GeForce RTX 4080 – $1.18 – $0.79
- AMD Radeon RX 7900 XTX – $1.18 / $0.53
- NVIDIA GeForce RTX 4070 Ti – $0.98 / $0.69
- NVIDIA GeForce RTX 3090 Ti – $0.92 / $0.54
Should we mine?
Well, what do you think?
If you already have a GPU that makes at least something and pays off the electricity part, that’s a good thing.
Just a few months ago you could barely earn a cent per day mining with the most expensive GPUs.
But if you are considering an investment into a GPU, or a GPU rig, think twice.
For gamers, it makes perfect sense.
For all others, things can go either way.
Long-term speaking, I believe that GPU mining will survive as it always did, and this situation is a real refreshment since the last autumn.
But if you’re looking for a quick buck, just mine with what you already have.
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