Nvidia GeForce RTX 3050 Is Incompatible With Ethereum Mining

Nvidia GeForce RTX 3050 is incompatible with Ethereum mining, which means that you can’t mine Ethereum with this graphics card.

The Nvidia Geforce RTX 3050 will launch on January 27, 2022. However, the official specification for the device has already been made public.

The GeForce RTX 3050 will come equipped with 8GB of GDDR6 RAM, which will enable it to deliver 18 TFLOPs of ray tracing performance, 73 TFLOPs of AI tensor performance and 9 TFLOPs of shader performance.

At 73 W, the hash rate will fluctuate around 12.5 MH / s. The card will most likely only be able to mine ETH using the Lite Hash Rate algorithm rather than the ethash algorithm.

As a result, the GeForce RTX 3050 may out to be a reasonably priced offering, and it will not be made to fulfill the demand of cryptocurrency miners. Nonetheless, the current chip shortage may result in a price increase above the recommended level.

At the official price of 249 euros, it would take the ETH miner about 500 days to recover the investment costs. However, the condition is that the price will not increase after the premiere (which is likely), and the value of ETH will not fall further.

Ethereum Mining and Graphics Cards

Ethereum miners frequently use graphics GPUs, and Bitcoin miners utilize ASICs, which are significantly more powerful and substantially more expensive.

Nvidia’s selection could have been a strategic one. It is probable that the business intended to introduce a new low-cost graphics card targeted exclusively towards gamers.

Additionally, it is worth noting that the profitability of ethereum mining has decreased in recent months due to the dramatic collapse in the value of ETH. At the beginning of November, MHash/s cost more than $0.08 per day, and it is only $ 0.03, though, today.

Furthermore, Nvidia has already implemented particular limits on its cards, preventing them from mining at maximum capacity. Later, she withdrew them accidentally.

Read Also: Binance will sponsor the Argentina national football team

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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