GPUs are versatile pieces of computing equipment. They're necessary for gamers, professional videographers, and of course cryptocurrency miners. But is mining bad for GPUs? Will mining kill a GPU card?
Mining Cryptocurrencies with GPUs
Mining Bitcoin and cryptocurrencies takes some serious knowledge and usually requires regular technical updates. Gone are the days when you could mine Bitcoin on your laptop. That’s what Satoshi Nakamoto was doing in the early days of Bitcoin, and the block reward back then was 50 BTC.
To mine Bitcoin and cryptocurrencies nowadays you need at least a GPU set up. GPUs have made mining much better and have helped secure the blockchain networks much more than CPU.
Some say GPUs don’t excel in any single area, because they’re pretty good at different things – a jack of all master of nothing kind of thing. But that’s doing disservice to GPUs – they render fantastic images, animations and video for amazing gaming graphics, help photographers and video editors design state of the art screen, and of course mine cryptocurrencies at a competitive rate.
CPU had been the norm for the first few years of cryptocurrency mining, before GPU took over. CPU mining was an obvious choice for Satoshi in the early days, but as BTC gained momentum, engineers looked at ways to control more of the hashrate.
GPU mining is much more effective at mining than CPU, and it made miners’ CPU set up defunct pretty quickly, especially if you wanted to win the BTC block reward.
GPU Mining Made It Easy for Hobbyists to Get Into Mining Crypto
All of a sudden, gamers with GPU chips had, at their disposal, a chip capable of competing for the hardest money ever created – Bitcoin. As there are so many gamers, GPU miners quickly became ubiquitous, which helped up the hashrate and secure the network exponentially.
Of course GPUs aren’t only made for mining cryptocurrencies. They’re multipurpose tools that some call the Swiss Army Knife of computing. From smartphones to AI, a GPU is a flexible jack-of-all-trades piece of hardware in the computing world, but since mining took off, other hobbyists have struggled at times to get GPU cards.
What To Do With Retiring Mining GPUs
GPUs used for mining cryptocurrencies remain useful after retiring from mining. Because of their dynamism, GPUs can last a long time and will retain their resale value and can be reconfigured and deployed back into gaming.
The only flaw GPUs have, in the mining world, is that they’re not built purposefully for mining crypto. Now we have application-specific integrated circuit (ASIC) machines, that are much more powerful chips and are built specifically to mine cryptocurrencies, such as Bitcoin.
Although many cryptocurrencies can be mined with GPUs and many miners are making a good profit mining some altcoins. If you decide to get into mining, always make sure you do your research and work out the costs of everything to make sure it is profitable in your area.
Author: John Wilson