Will the new NVIDIA GeForce RTX 20 Series make a difference for mining?

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Will the new NVIDIA GeForce RTX 20 Series make a difference for mining IMG 07

The NVIDIA GeForce RTX 20 Series was announced at Gamescom in Cologne, on 20 August, 2018. The RTX 20 series is based on the Turing microarchitecture, and features real-time ray tracing.

It is exciting news for both game players and cryptocurrency mining communities.

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Let’s take a look at the three graphics in the series:

RTX 2070 is priced USD499. Specs are as follows:

NVIDIA CUDA Cores2304
Base Clock1410MHZ
Standard Memory Config256-bit 8GB GDDR6
Graphics Card Power175w

RTX2080 is priced USD699. Specs are as follows:

NVIDIA CUDA Cores2944
Base Clock1515MHZ
Standard Memory Config256-bit 8GB GDDR6
Graphics Card Power225w

RTX2080 TI is priced USD999. Specs are as follows:

NVIDIA CUDA Cores4352
Base Clock1350MHZ
Standard Memory Config256-bit 11GB GDDR6
Graphics Card Power260w

 

Use the series for mining?

To use the graphics in the series for mining cryptocurrencies, we first need to know that hashing power in this case is determined mainly by: CUDA cores, memory clock and GPU clock.

Different currencies have different mining features. For example, ETH requires high memory clock, thus when choosing a graphic, its memory clock should be one of the major considerations. The GTX1070 and GTX1080Ti have quite price difference, however to mine ETH, the results are pretty much the same.

For most current currencies, to mine with graphics, it relies majorly on the CUDA cores and clock speed.

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NVIDIA GPU mining comparations

According to the three major factor that affects hashing power, we made an estimation of the hashing power of the following graphics:

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As in the chart, with the RTX20 series, the hashing power can be increased by 15% and 21% if not to take overclocking into account. In ideal circumstances, the hashing power can be expected to increase by 30%. We have experimented to use GTX1080Ti, to mine X16R algorithm, the hashing power hit 20MH/s which is 30% higher than expected 15MH/s in the above chart.  Will the new NVIDIA GeForce RTX 20 Series make a difference for mining IMG 05

 

Use this series to mine ETH

As the series was just announced, we are not able to find out the hashing power for ETH right now. However, we figured out a way to get a rough idea.

We know that the Titan V hashing power is 79MH/s for ETH, Titan V is of HMB2, however the new series is of GDDR6. So to use Titan V to make an assumption doesn’t work.

However we can use 1080Ti (which is of GDDR6) to compare with Titan V and make a rough speculation:

The theoretical speed of 2080Ti is 864GB/s, which is 32% faster than HMB2, so for ETH mining, its hashing power may be 104MH/s. However Titan V has 5120 cores, and 2080Ti has only 4352, so its hashing power should be lower than 104MH/s. A reasonable speculation is 80Mh/s. The real performance will need to wait until the shipping of the new series starts and to test them for real.

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Is RTX 2080Ti worthy for mining?

The hashing power of 1080Ti for ETH is 55Mh/s, the price is below around USD550 on ebay. The hashing power of 1070 is 31MH, but the price is below USD350

In terms of mining ETH, if the hashing power of RTX2080Ti for ETH mining can meet 86MH/s, then it is 56% higher than that of the 1080Ti, and 177% higher than that of the 1070.

However, with the release of the new series, the prices for previous series might decrease. In addition, with Bitmain’s realese of Antminer E3, it is yet unknown if ASIC mining will end up the future for the ETH mining. There are risks to buy the new series for mining.

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Another consideration is that NVIDIA’s expected revenue from mining buyers is only 10% of what they have expected. They have decided to discontinue developing graphics specially for mining cryptocurrencies.

For mining worker, there is a lot to consider whether if this new series is worthy of buying.

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