Guide to Building a GPU Mining Rig for Ethereum and Other Altcoins

When considering the purchase of a GPU mining rig for Ethereum and other altcoins, it is crucial to weigh the benefits and drawbacks of different graphics cards. In this guide, we will explore the profitability and practicality of using a GTX 1050 Ti for mining, compared to more powerful options such as the GTX 1060, 1070, and 1080 Ti. We will also address the limitations and considerations when mining Ethereum and Zcash with 1050 Ti GPUs.

Profitability of GTX 1050 Ti

Let's dive into the numbers. A GTX 1050 Ti 4GB will net you approximately $25 per month on NiceHash. While this might seem appealing due to its relatively low cost and ease of use, the reality is that this GPU is not suitable for actual Ethereum mining due to its insufficient RAM. Well, it cannot mine Ethereum at all, as the onboard memory falls short of the minimum requirement.

Comparing GPUs for Mining

The performance and profitability of GPUs vary greatly. For instance:

GTX 1060 offers a better return on investment in terms of percentage, making it a more attractive choice for those seeking higher efficiency. A GTX 1070 can generate a better dollar amount at the end of a year, due to its higher efficiency and power output. The GTX 1080 Ti, although more expensive, delivers better dollar amounts after approximately 17 months of consistent mining, illustrating its superior long-term profitability.

These figures and rankings change as the value of Bitcoin fluctuates, given that the NiceHash values form the basis of these estimations.

Limitations and Efficiency

For Ethereum mining, a GTX 1050 Ti is not sufficient. This is because its onboard memory is just 2GB, which is insufficient for Ethereum mining. Similarly, even a 4GB version of the 1050 lacks the necessary onboard memory. Therefore, for Ethereum mining, you must opt for a GPU with at least 4GB of memory, such as the GTX 1060, or better yet, the GTX 1070 and 1080 Ti.

However, if you are looking to mine Zcash, the 1050 Ti's performance is still limited, particularly when considering the Hash per Watt. The 1050 Ti is not very efficient, resulting in limited profitability for Zcash mining. Given this, it is highly recommended to consider more powerful GPUs for more substantial returns.

Building Your GPU Mining Rig

To build a GPU mining rig for Ethereum and other altcoins, you can follow these steps:

Choose the Right GPU: Based on the information provided, the most suitable GPUs for Ethereum mining are the 1060, 1070, and 1080 Ti, while the 1050 Ti is not recommended due to its limitations. Calculate Costs and Efficiency: Determine the cost of your electricity and calculate your expected earnings. For example, if you are using a 1060 with a hash rate of 18, you can mine approximately 900 ETH (or equivalent) per month, which is twice the amount you would earn with a 1050 Ti. Consider the Environment: Ensure you have a suitable environment to house the GPU, as it might be noisy. Proper cooling is crucial to prevent overheating. Follow the Guide: Refer to a comprehensive guide and take into account my recommendations to build a more efficient and profitable mining rig.

By following these steps and recommendations, you can set up a GPU mining rig that is not only efficient but also profitable. Whether you are mining Ethereum, Zcash, or other altcoins, choosing the right GPU and setting up a cost-effective rig is key to maximizing your returns.