Cryptocurrency mining remains a compelling way to generate passive income, even as profitability has cooled from its all-time highs. With over 22,900 digital currencies in circulation by early 2024—up from just 12,000 in 2022—the opportunities for miners have expanded beyond Bitcoin and Ethereum into a diverse ecosystem of altcoins and niche blockchains. While ASICs dominate Bitcoin mining, GPU mining continues to thrive due to its flexibility, adaptability, and accessibility across various proof-of-work (PoW) cryptocurrencies.
GPUs, or graphics processing units, excel at parallel processing—making them ideal for solving the complex cryptographic puzzles that underpin blockchain networks. Whether you're mining Ethereum (ETH), Ergo (ERG), Conflux (CFX), or Flux (FLUX), selecting the right GPU is critical to maximizing efficiency, reducing power costs, and improving return on investment (ROI).
This guide explores the top GPUs for mining in 2024, evaluates their performance metrics, and provides insights into software optimization and setup strategies to help both beginners and experienced miners build profitable rigs.
Why GPU Mining Still Matters in 2024
Despite Ethereum’s transition to proof-of-stake (PoS), many altcoins still rely on GPU-minable algorithms such as KawPow, Autolykos, and ProgPoW. These coins offer viable income streams with lower entry barriers compared to ASIC-dominated networks.
GPUs also provide unmatched versatility. Unlike specialized hardware, they can be repurposed for gaming, rendering, or switching between different mineable coins based on profitability. This adaptability makes GPU mining a smart long-term strategy in a volatile market.
👉 Discover how to maximize your mining ROI with next-gen GPU setups.
Top GPUs for Mining in 2024
NVIDIA RTX 4090 – The Ultimate Mining Powerhouse
The NVIDIA GeForce RTX 4090 stands at the pinnacle of GPU mining performance in 2024. Built on the advanced Lovelace architecture, it delivers exceptional hash rates and energy efficiency, making it a top choice for serious miners.
With 24 GB of GDDR6X VRAM and 16,384 CUDA cores, the RTX 4090 dominates in mining ETH, ERG, and FLUX. Its high computational throughput ensures consistent performance across multiple algorithms.
- Power Consumption: 450W
- Hashrate (Ethereum): ~250 MH/s
- Estimated Daily Profit: $0.52 (varies by electricity cost and market)
While its price tag ranges from $1,700 to $2,000, the RTX 4090 offers one of the best long-term ROI potentials for large-scale operations. However, due to its cost and power demands, it’s best suited for well-cooled, professionally managed mining farms.
NVIDIA RTX 3080 Ti – Balanced Performance & Efficiency
The RTX 3080 Ti strikes an excellent balance between price, performance, and power efficiency. Based on the Ampere architecture, it supports high-speed memory and advanced ray tracing capabilities—though miners care more about its raw compute power.
Equipped with 12 GB GDDR6X VRAM and 10,240 CUDA cores, this card handles ETH, CFX, and ZANO with ease. It's also a favorite among gamers who want dual-use functionality.
- Power Consumption: 350W
- Hashrate (Ethereum): ~112 MH/s
- Estimated Daily Profit: $0.48
Its broad OS compatibility and widespread availability make it a reliable pick for both solo miners and pool contributors.
NVIDIA RTX 3090 – High VRAM for Algorithm Flexibility
As the flagship of the RTX 30 series, the RTX 3090 offers 24 GB of GDDR6X VRAM, giving it an edge in memory-intensive mining algorithms. This makes it especially effective for coins like Ergo, which benefit from larger VRAM capacity.
Despite sharing a similar power draw with the 3080 Ti, the 3090 delivers slightly better performance thanks to its superior memory bandwidth.
- Power Consumption: 350W
- Hashrate (Ethereum): ~120 MH/s
- Estimated Daily Profit: $0.47
Priced around $1,500, it’s a premium option best justified in multi-GPU rigs where memory scalability is crucial.
AMD Radeon VII – Legacy Performance with Broad Compatibility
Though older than current-gen cards, the AMD Radeon VII remains relevant due to its 7nm process technology and support for 136 mining algorithms across 285 cryptocurrencies. With 16GB HBM2 memory, it handles memory-heavy tasks efficiently.
Its ability to reach clock speeds up to 1800 MHz ensures solid performance despite lacking modern architectural optimizations.
- Power Consumption: 300W
- Hashrate (Ethereum): 93 MH/s
- Estimated Daily Profit: $0.42
While no longer in production, used units can offer value for budget-conscious miners targeting specific altcoins.
AMD RX 6800 XT – Best Value for Mid-Tier Miners
The RX 6800 XT is one of the most cost-effective options in 2024. Priced around $500, it delivers strong performance using AMD’s RDNA 2 architecture, optimized for energy-efficient computing.
With 16 GB of GDDR6 VRAM, it’s ideal for Ethereum and Ergo mining while maintaining low power consumption relative to its output.
- Power Consumption: 300W
- Hashrate (Ethereum): ~62 MH/s
- Estimated Daily Profit: $0.41
Its affordability and availability make it a go-to choice for building scalable mining farms without breaking the bank.
👉 Learn how to optimize your RX 6800 XT for maximum daily returns.
How Does GPU Mining Work?
At its core, crypto mining involves solving cryptographic hashes to validate transactions and add new blocks to the blockchain. Each block contains:
- Transaction data
- Previous block’s hash
- Nonce (random number)
- Current block’s hash
Miners compete to find a valid nonce that produces a hash below the network target. The first to solve it earns a block reward—usually paid in cryptocurrency.
GPUs outperform CPUs because they can process thousands of threads simultaneously. This parallelism is essential for rapidly iterating through billions of hash combinations.
Key steps in GPU mining:
- Assemble a mining rig with compatible GPUs
- Join a mining pool to increase reward frequency
- Install mining software
- Start hashing and monitor performance
- Track profits vs. electricity costs
Best GPU Mining Software in 2024
Choosing the right software is just as important as selecting the hardware.
NiceHash
Automatically switches to the most profitable coin. Great for beginners with minimal setup required.
Claymore’s Dual Miner
Allows simultaneous mining of two coins—ideal for maximizing GPU utilization.
CGMiner
A veteran in the space, highly customizable with remote monitoring support.
PhoenixMiner
Efficient Ethereum miner with low developer fees and stable performance.
T-Rex Miner
Optimized for NVIDIA GPUs; supports multiple algorithms with high hash rates.
Ethminer
Open-source and specifically built for Ethereum mining—best for experienced users.
Frequently Asked Questions (FAQ)
Q: Is GPU mining still profitable in 2024?
A: Yes, especially for altcoins like Ergo, Conflux, and Flux. While Ethereum mining ended after The Merge, numerous PoW coins remain profitable with efficient hardware.
Q: Which is better: NVIDIA or AMD for mining?
A: Both have strengths. NVIDIA cards often offer higher performance per watt, while AMD GPUs tend to be more affordable and support open-source drivers.
Q: Do I need a special motherboard for a mining rig?
A: Not necessarily, but motherboards with multiple PCIe slots (like those designed for mining) improve scalability and stability in multi-GPU setups.
Q: How much electricity does a mining rig use?
A: A single high-end GPU uses between 300–450W. Always calculate your local electricity rate when estimating ROI.
Q: Can I use gaming GPUs for mining?
A: Absolutely. Cards like the RTX 4090 and RX 6800 XT are designed for gaming but perform exceptionally well in mining rigs.
Q: What affects mining profitability?
A: Key factors include cryptocurrency price, network difficulty, power cost, hardware efficiency, and pool fees.
👉 Start mining smarter today—explore tools to track real-time profitability.
Final Thoughts
GPU mining remains a viable entry point into the cryptocurrency economy in 2024. While market conditions have evolved, technological advancements in GPUs and software have kept pace. Cards like the RTX 4090, RTX 3090, and RX 6800 XT offer powerful combinations of speed, efficiency, and flexibility.
Success depends not only on hardware selection but also on smart software configuration, energy management, and staying informed about algorithm shifts and coin valuations.
For those ready to dive in—or scale up—an optimized GPU mining setup can deliver steady returns in an ever-expanding digital asset landscape.