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Nvidia unveiled its new and improved RTX 3080, but will it be good for mining?

Nvidia will launch the next generation of its popular RTX graphics card series on September 17th. One of them will be the RTX 3080, which will be presented as a mid-range card among the 3090 and 3070 competitors.

However, the card’s performance will surpass that of the previous generation, the RTX 2080 Ti. According to Tom’s hardware, the GPU is said to be “twice as fast” as the last generation of Nvidia, and the raw data suggests the performance improvements could be even bigger. All of this for the same price of USD 700. The RTX 3090 appears to be a less efficient model in terms of performance / cost, with twice the price but only a 20% performance improvement.

However, all of these numbers only apply to video games, not necessarily mining. Traditionally AMD has been dominant in this sector as its cards generally have a higher hash rate per watt or unit cost.

Nvidia unveiled its new and improved RTX 3080, but will it be good for mining?
Nvidia unveiled its new and improved RTX 3080, but will it be good for mining?

The RTX 2080 Ti is generally below average when compared to its predecessor, the 1080 Ti. Part of this is due to the specifics of these cards. The RTX series is focused on providing innate ray tracing capabilities that are very useful for AAA games but of no use to miners.

Philip Salter, Operations manager Genesis Mining, said Cointelegraph lOr what the RTX 3080 could mean for the cryptocurrency mining industry:

“The hash rate that can reach 3080 remains to be seen. In theory, Ethereum’s hash rate could only be 60-70% faster if you look at the memory bandwidth. We’ve already seen the advertised 1TB / s in the AMD Vega VII, and you can hit 100MH with this card. “

However, he stated that achieving such a hash rate requires optimizing the storage times for Ethereum mining. This can only be achieved by changing the VBIOS (video BIOS) settings of the GPU, an internal firmware. “”However, you cannot implement custom VBIOS changes in Nvidia, so you have to adhere to the storage times set by the manufacturer. “, Salter added.

Nvidia could release an official VBIOS mod to help improve Ethereum mining. but that’s something that hasn’t happened before.

In addition to performance issues, pricing is likely to be another issue. Nvidia has a “strong position in the video game market” and the price of its cards generally reflects: Said Salter. The premium for ray tracing cores also increases the price for miners.

“In the end, the 3080 is unlikely to be able to outperform AMD’s lineup of affordable, adjustable GPUs for mining.” completed. However, If the current price increase for Ether (ETH) continues, GPU demand can get so great that Nvidia cards could become attractive overnight. something similar to the 2017 bull market.

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