Is NVIDIA’s Latest RTX Series Suitable For Crypto Mining?

Is NVIDIA’s Latest RTX Series Suitable For Crypto Mining?

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Blockchain

NVIDIA, which is known for its graphical processing units (GPUs) has recently launched its new GeForce series ‘RTX’. With high power and more realistic features, this series is an all new innovation and is two times more powerful than its predecessor series ‘GTX’.

As we all know, in crypto mining, the main hardware needed is graphics processing unit, which is replaced by CPUs. However, CPUs had limited processing speed and also limited output. So, these factors made mining process inefficient from CPUs.

Whereas, when we talk about GPUs, they come with more clocked processing speeds through which thousands of instructions can be executed at once. When compared with CPUs, GPUs are almost 800-1000 times faster.

Basically, GPUs can easily perform similar and repetitive codes faster than CPUs. These factors make them more suitable and efficient for crypto mining process. And when we talk about mining, it involves, continuous decoding of different hashes repeatedly with only one digit changing in every execution of data. Also, they come with many Arithmetic Logical Units (ALU) that are used in mathematical calculations, which leads to better & improved output for the mining process.

NVIDIA’s Latest RTX Series
Image Source: wccftech
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Talking about GPUs for mining, NVIDIA, a renowned brand for graphics cards, has recently launched its GeForce RTX series. This includes three graphic cards that are as follows:

  • NVIDIA GeForce RTX 2080 Ti
  • NVIDIA GeForce RTX 2080
  • NVIDIA GeForce RTX 2070

But, the question to ask is, ‘Is this series appropriate for crypto mining processes?’

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Well, before finding answer to the above question, let us first get acknowledged with features of NVIDIA’s latest graphics card series GeForce RTX.

This time NVIDIA has targeted gamers with this series, as they have now brought features that would allow gamers to relive the moment in more realistic and cinematic quality experience.

With more powerful NVIDIA Turing GPU architecture, breakthrough technologies, and 11 GB of next-gen, ultra-fast GDDR6 memory, this series will be the most powerful of all. It comes with all-new RTX platform that gives you 6X performance when compared to its predecessors. Also, it will be coming with a power of real-time ray tracing and AI enhanced graphics to games.

Now, coming on to the question, GeForce RTX series is definitely appealing to gamers, but it isn’t the case with miners at this point of time. This would definitely increase hashing power by 25-35%. However, the topic of concern for miners is that it costs almost double than its previous generation. NVIDIA RTX 2080 Ti is priced at $1,199, whereas, previous generation GTX 1080 Ti is of $599, almost double.

Also, NVIDIA has showed its concern over rising prices of GPUs earlier this year. The reason for rising prices was high demand of mining-based graphics cards by crypto miners. However, this demand disappointed gamers as the price went high and GPUs became unaffordable to them.

So, what we can make out is, NVIDIA does not want this series to be used for crypto mining processes. Although, mining would become much easier with GeForce RTX series, but looks like, this time NVIDIA does not want to disappoint their main target audience that is gamers.

And, on this NVIDIA said,

“All activities related to our GeForce product line are targeted at our main audience. To ensure that GeForce gamers continue to have good GeForce graphics card availability in the current situation, we recommend that our trading partners make the appropriate arrangements to meet gamers’ needs as usual.”

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