Why Mine with 3060ti (Why Mine with NVIDIA)

08/13/2023 08:56 • AI Insights • 68 views

Why mine with 3060ti, it has the following advantages: resistance to ASIC chips, supports frequent operations, and low power consumption.

Before the Bitcoin halving, fluctuations in mining power resulted from the rise in BTC price and difficulty adjustment. As a result of the Bitcoin network block reward decreasing to 6.25B, the average block time increased from 6 minutes to over 3 hours. This led to a significant drop in Bitcoin’s hash rate (currently reached around 2 months). However, such a situation will not happen again in the coming weeks, as it implies a significant increase in Bitcoin’s hash value (if it continues to grow at this rate), which would only result in higher transaction fees.

In fact, according to data from CoinMarketCap, the mainstream algorithms used in the current market include FPGA, Scrypt, and the most commonly used FPPS+SHA256. However, considering the significant impact of the recent decline in cryptocurrency prices (such as the 80% drop in ETH), the use of these algorithms has been affected. (Image from CoinMarketCap)

So why use 3070ti for mining? Why use 3060Ti? It is because of its low power cost and the long time it takes to recover normal operation. This is also an important factor affecting the efficiency of Bitcoin mining.

In fact, more and more large investors are starting to enter the mining industry. For example, MicroStrategy CEO Michael Saylor announced a $300,000 investment in Tesla stocks. He believes that Bitcoin is a good choice as a store of value and can effectively store assets.

It is reported that Marathon Digital Holdings, a subsidiary of the company, is purchasing 3,000 bitcoin mining machines. The company, founded in April 2013 and owned by a company led by Bill Gates, holds the majority of the shares of these devices. In addition to Microstrategy, the company is also partnering with Deloitte to launch a new technology called “Proof-Of-Work”.

Why mine with NVIDIA

NVIDIA’s graphics processing units (GPUs) have a market share of up to 70%, making them the most convenient option for mining.

But for ordinary players, how can they bring their own graphics cards and GPUs into the cloud? The answer is simple: because your gaming computer, laptop, or server are all products based on chips produced by NVIDIA – so your demand for these products is not high!

Why do you need to use NVIDIA’s memory driver to mine blockchain digital assets? In fact, if you are not familiar with graphics card technology, you may feel that you don’t have any hardware resources to operate. If you want to study it from the beginning, it would be difficult to find a product that meets your needs. However, we can find some key technical features that make it one of the most commonly used solutions in the current mining industry.

Currently, some high-end graphics cards have been used for hashing algorithms of cryptocurrencies such as Ethereum and Bitcoin, and NVIDIA has also been focusing on this field. It has launched a series of new products, including Intel RTX3060 and AMD RDNA. Among them, RTX3080 is the most efficient calculation engine, providing stronger computing power output capability; Radeon RX580 is a high-performance CPU with high-speed computing capabilities. (Image from the internet)

Of course, these are functions that most people cannot imagine, such as video conferences, software development kits, and more. In addition, there are many other applications that are trying to utilize NVIDIA’s memory driver system, such as game consoles or smart TVs. However, although some users may choose to use NVIDIA, and it is not specifically designed for specific scenarios, it may also expose their devices to attacks. NVIDIA’s memory driver system supports real-time transaction execution and multi-threaded data processing, among other methods.

However, NVIDIA’s graphics card is not the consideration for all GPUs – its power consumption can be as low as 30MH/s, and it can only produce more than 100,000 memories per second. It cannot guarantee producing super-large block time with every shipment, resulting in significant waste costs. With the rising prices, more and more graphics card manufacturers are also looking for suitable GPUs to make a profit. Therefore, to reduce mining difficulty and increase revenue, NVIDIA has adopted an “unmanaged” mode – allowing users to communicate directly with NVIDIA. This approach ensures that each user’s computer has sufficient memory and stores it locally, greatly improving security and reducing the risk of loss.

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Why Mine with 3060ti (Why Mine with NVIDIA)

Why mine with NVIDIA

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