We get it…
You are most likely reading this guide because you want to mine Ethereum for a profit.
You came to the right place.
This page will discuss different Ethereum mining hardware and the profit you can make using them.
After learning about Ethereum mining hardware, consider checking out our Ethereum mining software and mining pool guides. Being educated about both of these topics can cause your mining to be more profitable.
Ethereum Mining Profitability
Your returns mining Ethereum depend on the price of Ethereum, your hardware costs, your electricity cost, and your Ethereum mining pool’s fee. Cryptocompare is a great tool to calculate your mining profitability. Plug in the relevant information, and have a personal estimate made on your profitability.
Best Ethereum Mining Graphics Cards
The R9 295 X2 has the highest hashing power out of any graphics card at 46 MH/S. If you are looking to get the most profit from mining Ethereum, look nowhere else. The Radeon R9 will use around 500W of electricity when mining. Most R9 295 X2 miners report profits of over $1,500 yearly. Expect these to sell for around $500 used.
The Radeon R9 HD 7990 is probably your next best bet for mining Ethereum profitably. These cards give you 36 MH/S at 300 W. Expect to pay around $300-$350 for a 7990.
Next up is the Radeon RX 480. The RX 480 has an average hash rate of 25 MH/S and draws 150 W. An RX 480 will cost you around $300.
The Radeon RX 470 is the older version of the RX 480, but can still be used to mine Ethereum profitably. It costs around $300 too and has 24 MH/s on average and a power consumption of 150 W.
Best Ethereum Mining Power Supplies (PSU)
Depending on the total power consumption of your Ethereum mining rig, you will need to get different or multiple power supplies. To calculate how many miners each power supply can support, divide the total power supply by the total power consumption of your GPU.
For example, the Radeon R9 295 X2 uses 500W and the EVGA Supernova can support 1300 W. 1300/500= 2.6.
We have to round down as you can’t mine with .6 of a graphics card, but this means you can run 2 R9 295 X2’s on one EVGA Supernova.
If we decide to get 5 EVGA Supernova’ that means that it can support 5*1300 = 6500 Watts. If we divide 6500/500, we get 13. This is the optimal use of our power supplies as there is no remainder.
Here are a few we recommend:
This graphics card will cost you around $100 and can support 2 R9 295s.
This graphics card costs around $60 and can support 550 Watts.
Best Ethereum Mining Motherboards
This is the ultimate mining rig motherboard. It features 19 PCI-E slots which are effectively 19 GPUs!
This is another great option and has 7 PCI-E Slots.
Frequently Asked Questions
What is the best Ethereum mining ASIC?
Ethereum has been able to avoid ASICs by increasing the amount of VRAM needed to mine. ASICs are extremely harmful to cryptocurrency mining, as it moves mining power from the average person to centralized setups.
Is it worth buying mining hardware?
This really depends on how much free time you have, and how much profit you are ok with. Typically mining hardware can pay themselves off in the first few months, making all the rest of the coins mined straight profit.
For some, it is easier to just buy Ethereum directly.
Where can I buy Ethereum?
Ethereum is the #2 cryptocurrency in terms of market cap, making it obtainable on a large number of exchanges. Coinbase and Gemini are two of the most popular exchanges to purchase Ethereum on.
Where can I store Ethereum that I mine?
What software do I use to mine Ethereum?
There are a lot of good options here, including Ethminer, Wineth and Claymore’s Dual Miner.
Claymore’s Dual miner is great because you can mine Ethereum and other similar algorithm coins at the same time, without harming your Ethereum hash rate. Even if you don’t want to keep the other coins you mine, you can sell them for Ethereum on an exchange like Binance!
We have a full guide on Ethereum mining software if you want to learn more.
What Ethereum mining pool should I join?
Ethereum mining pools help you receive more frequent payouts from your mining. Some of the most popular pools include Etherpool and Nanopool. Check out our Ethereum mining pool guide to learn more.
How is Ethereum mining different than Bitcoin mining?
While you could still mine Bitcoin with the GPUs stated above, they would be less successful as Bitcoin mining is dominated by ASICs. Ethereum purposely invalidates ASICs by increasing the amount of VRAM needed to mine.
What is the best GPU to mine Ethereum with?
There is no best GPU as depending on your circumstances one might be better than others. The R9 295 X2 will most likely bring the highest return on investment.