Do you want to mine Ethereum?Using an efficient Ethereum mining hardware will significantly reduce your electricity bills and cut down your costs.This article will help you learn more about the best Ethereum mining hardware.Table of ContentsWhat is a GPU Ethereum Miner?How can you find the best GPU and rig?Most efficient GPUs on saleRadeon R9 295X2Radeon R9 HD 7990Radeon RX 480Radeon RX 470Just Want Ethereum?Note: Before you get hardware make your you have Ethereum mining software, an Ether mining pool, and an Ethereum hardware wallet for secure storage of Ether.If you just want Ether then just buy Ethereum.Mining has a lot of setup costs and some technical knowledge is required.In order to mine Ethereum, you will need specialized hardware known as graphics processing unit (GPU).Ethereum’s developers originally intended for it to be mined on computer CPUs but miners later discovered that GPUs gave them more hashing power.So, in the most simplest of terms: a GPU is a specialized Ethereum mining computer.Some GPUs have a higher hash rate than others, while some use more electric power as well.In choosing the most efficient GPU the most important thing is striking a balance between how powerful you want your rig to be and how much you are willing to spend on the GPU itself and the electricity.Many of these costs will vary by country.

Is it cheap to buy GPUs in your country?Since most GPUs are sold on Amazon and eBay, if you live in a country where those retailers ship to then you will likely have an easier time getting the GPUs.Also, what is the cost of electricity in your country?Electricity costs are the deciding factor for most miners.As we have seen with Bitcoin mining, miners in China, Iceland, and other places with cheap electricity have a huge advantage!Now that you understand the factors that make GPU rigs good, here is a list and brief description of the most efficient GPUs on sale.Note that the power costs per day numbers used below were based on the global average cost of electricity and the price of Ether on September 16, 2016.For more accurate estimates, use an Ethereum mining calculator and plug in your own numbers.The Radeon R9 295X2 has by far the highest hash rate (46.0 MH/s) of the Ethereum GPUs on the market and will cost you $600.It has a power cost per day of about $1.44, a return per day of about $1.61 and a cost per MH/s of $13.04.

This gives a return per year of $586.43.A Radeon R9 HD 7990 will cost you $680.Its power cost per day is lower than the R9 295X2 at $1.08 but its hash rate is significantly lower at 36 MH/s.Its return per day is $1.29 while its cost per MH/s is $18.89, giving it a return per year of $469.40.The Radeon RX 480 is most arguably the most economical in terms of cost and saving electricity.Its power cost per day is significantly lower than the two that I have mentioned at $0.4320.Its hash rate is 25.0 MH/s, meaning its cost per MH/s is $7.96.bitcoin safety deposit boxThis gives a return per day of $1.21 and therefore a return per year of $440.91.litecoin storyRadeon RX 480 will cost you $199.A Radeon RX 470 has a modest hash rate of 24.0MH/s.litecoin mining gpu vs cpu

Its power cost per day is exactly the same as the Radeon RX 480 at $0.4320.Its cost per MH/s is $9.13, giving it a return per day of $1.15 and a return per year of $418.16.Radeon RX 470 will cost you $219.Now that you know the best Ethereum mining hardware, get a secure wallet for your Ether.If you don’t want to mine you can always just buy some Ether online.If you just want ether, mining is NOT the best way to obtain them.Buying ether is the EASIEST and FASTEST way to purchase.Get $10 worth of free ether when you buy $100 or more at Coinbase.ethereum price evolutionEthereum Sign up or log in to customize your list.ceo bitcoin exchange found dead_ Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top up vote 7 down vote favorite 2 I've heard that Ethereum mining is ASIC resistant since it requires memory-hard hashing algorithms.mt4 with bitcoin

However, why can't miners buy large DRAM and devote the memory to ASIC mining?What prevents miners from making an ASIC paired with large DRAM?mining proof-of-work ethash up vote down vote According to the Ethereum white paper: The current intent at Ethereum is to use a mining algorithm where miners are required to fetch random data from the state, compute some randomly selected transactions from the last N blocks in the blockchain, and return the hash of the result.This has two important benefits.First, Ethereum contracts can include any kind of computation, so an Ethereum ASIC would essentially be an ASIC for general computation - ie.Second, mining requires access to the entire blockchain, forcing miners to store the entire blockchain and at least be capable of verifying every transaction.[...] one notably interesting feature of this algorithm is that it allows anyone to "poison the well", by introducing a large number of contracts into the blockchain specifically designed to stymie certain ASICs.

So basically, an ASIC should not have any benefit at all because it's just general computation.And to top it off, contracts can be released that are specifically ASIC-hard so there would be an active disincentive to using ASICs.Though I'm not sure if that has ever been done or not in the wild.Another interesting thing that doesn't seem pointed out in the white paper is that the memory has to be FAST.So standard DRAM isn't really up to the challenge, which is why the RAM on GPUs take the brunt of the work in most mining today.Browse other questions tagged mining proof-of-work ethash or ask your own question.Ethereum’s recent price rise, from less than $1 per ether to more than ten times that witin six months, has created a gold rush centered around it.And among people who want to capitalize on this gold rush are Bitcoin miners, many of whom have now also started to mine Ether.Bitcoin mining is the process in which miners create new blocks, which are groupings of transactions, that satisfy some specific constraints.

Creating such blocks is not easy, and requires huge computing power.The hardware required is costly, as is the electricity needed to run the hardware.Miners make up for this cost by earning a reward in the cryptocurrency they are mining.With the increase in Ether price, it is becoming more and more attractive to mine Ether too.This is what is attracting leading Bitcoin miners to Ethereum mining., who owns up to 10% of world’s bitcoin mining computing power.He recently declared on his facebook page that, “I am a miner of #ethereum.” With this announcement, he also started a crowdfunding campign to fund his new Ethereum mining operation.A lot of other leading miners are now also mining ethereum.Mining in the Ethereum network is fundamentally the same process, because it is still based on proof of work (PoW) , where the miner has to show that they have solved a complex computation.However, there are some differences too.One major difference is that whereas Bitcoin mining is done using custom designed ASIC chips, ethereum mining is currently ASIC resistant because it uses a PoW algorithm called Ethash that’s said to be ASIC resistant.

Another difference is that whereas blocks are created every 10 minutes in Bitcoin network, in Ethereum network new blocks are created every 14 seconds.There are plans among the developers of Ethereum to shift to a ‘proof of stake’ algorithm after a few months, but for now, computational leaders of Bitcoin mining are shifting to mine Ethereum too.One such Bitcoin miner is F2Pool, which is a pool of users that mines the maximum number of bitcoins as of mid-2016.F2Pool also operates an Ethereum mining pool for users who want to mine Ether.Another major Bitcoin player, Genesis Mining, has also started to offer cloud computational devices for mining in the Ethereum network.Genesis Mining recently unveilved the largest Ethereum Mine in the world, called ‘Enigma’.Ethereum developers have already outlined a roadmap where they plan to switch to ‘proof of stake’ (PoS) algorithm for Ethereum mining in the near future.They plan to switch to PoS because they have concerns in case a single entity with 51% mining power is able to change the old blocks, rendering obsolete countless contracts and transactions.