Here’s the thing:
There is a direct correlation between the Monero mining hardware you use and the profit you will make mining. You most likely want to mine for a profit, so this guide will teach you how to do it right. If you want to cut to the chase and purchase Monero, we have a guide on that as well!
There are 5 factors that determine mining profitability.
- Hardware Cost (How much are you paying upfront?)
- Hash Rate (How fast does your rig mine?)
- Electricity Cost (How much is the electricity in your location kWH)
- Power Consumption (How much electricity does your rig use?)
- Mining Pool Fee (Does your mining pool charge a fee?)
Below we will compare and contrast different Monero mining GPUs, CPUs, Power Supplies and more.
If you are interested in purchasing Monero directly, check out our buying Monero guide to learn how to buy for the lowest fees.
Best Monero Mining GPU’s
The most efficient Monero mining GPU would be the XFX R9 295X2. This graphics card will initially cost you between $500-$650 depending on condition.
The R9 295XT has a hash rate of around 1800 H/s, and a power consumption of 500 W. Plug these numbers along with your electricity cost per KWh into CryptoCompare to determine your profitability.
The Radeon HD 7990 GPU is a viable option for Monero mining. It will run you around $400 depending on its condition.
The Radeon HD 7990 has a hash rate of 1120 H/s and a power consumption of 375 watts. This card is cheaper than the 295X2, but has lower hashing rate. Plug these numbers into CryptoCompare to see how profitable mining Monero with the Radeon HD 7990 will be for you.
The AMD R90 280X currently costs around $150. It has a hashing rate of 500 H/s, with a power consumption of around 300W. Check out Cryptocompare and plug in these numbers along with the electricity cost in your area to determine how profitable this GPU will be for you. Because the AMD R90 280x is so cheap, consider stacking several of these together to create a more powerful mining rig.
Best Monero Mining CPU’s
CPU mining is not normally more profitable than GPU mining, but it can certainly be done. You may also need a cooling fan to cool your ASIC or GPU.
CPU web mining is a trend that has kicked off allowing website hosts to let their visitors optionally opt into CPU mining (We don’t do this!).
Here are some CPU’s that can allow you to mine Monero for a profit.
The AMD Opteron is one of the most powerful CPU’s. It has a hash rate of around 415 H/s, while only costing you $50. It uses around 200 W of power per chip. Enter your numbers into Cryptocompare and see just how profitable this CPU will be for you!
The AMD FX380 is also an option and will cost you around $100 on eBay. Consider getting a used one to save upfront cost. I am unable to find exact power consumption numbers on this, but it should be around 300W.
Best Monero Mining Power Supplies (PSU)
In order to figure out your power supply needs, you will want to calculate your total power output. This can be found by adding up the power consumption of each GPU/CPU you are using.
Here are some of the best power supplies for your money:
The Corsair HX1000i can support 1000 watts. That means for every 2 XFX R9 295X2 you decide to use, you will need 1000 watts to support it. This leads to a 2:1 ration between Corsair HX1000i’s and XFX R9 295X2’s.
The EVGA Supernova 1000 P2 is another great option. It will cost you around $200 but can support over 1200 Watts. The AMD R90 280X discussed earlier consumes 300W. This means that 4 of them can be supported by the EVGA Supernova.
It is important to try and make the most out of your power supplies. For example, if I had two XFX R9 295X2’s (1000 W total) and one EVGA Supernova (Supports over 1200W), I would be wasting 200 Watts.
Best Monero Mining ASIC
As stated earlier, Monero’s mining algorithm defends against ASICs. In order to mine Monero most profitably, you should use the XFX R9 295X2. Learn more about the 295X2 above.
Best Monero USB Miner
USB miners are a thing of the past and aren’t really able to compete with GPU’s and CPU’s when it comes to Monero mining. I would not recommend trying USB mining, just use one of the GPU’s or CPU’s discussed above.