If you’re new to mining Ethereum, this guide covers all the important facts in a simple, low-jargon way. Let’s start with some short answers to common questions about Ethereum mining:
Q: Why should I mine Ethereum tokens (aka ether or ETH)? doesn’t mining Ether take up a lot of electricity?
A: If done properly, more money is earned by selling mined ETH than is spent on electricity. In other words, it’s profitable!
Q: Can I mine with my CPU (Personal computer’s processor) instead of an expensive graphics card (GPU)?
A: GPUs are so much faster that CPU-mining is no longer profitable or worthwhile. Even entry-level GPUs are about 200 times faster than CPUs for mining purposes.
Q: What’s the best GPU to use for getting the most ETH for the least electricity?
A: AMD cards tend to edge out similarly-priced NVidia cards in terms of efficiency. We cover the best cards to get under the heading “GPU Hardware” further down in this post.
Q: Why point your GPU towards a mining pool as opposed to solo-mining?
A: Unless you throw a fortune into mining hardware, your odds of generating ETH on your own are low. Pool-mining allow you to earn ETH in a regular and predictable way.