NVIDIA, Mining, and Ethereum After The Merge

Quick Context

Ethereum no longer rewards hashpower. Any guide about the best NVIDIA GPUs for mining ETH is outdated. If you still see those lists, they are recycling pre-Merge content.

The Merge (September 2022) transitioned Ethereum from Proof-of-Work to Proof-of-Stake. This made GPU mining Ethereum permanently obsolete. Validators now secure the network, not miners.

If you have GPUs from mining ETH, don't despair. There are better uses for your hardware now.

What GPUs Do Well Now

GPUs excel at parallel processing, making them valuable for several applications:

AI and Machine Learning

Inference, fine-tuning adapters, and vector search. VRAM capacity and memory bandwidth dominate the experience.

Demand for AI compute has exploded, creating opportunities:

• Run local AI models (Llama, Mistral, etc.)
• Fine-tune models for specific tasks
• Provide inference services
• Train smaller models

See our alternative ways to earn ETH for related opportunities.

Rendering and VFX

Blender, Redshift, Octane. Time savings turn into billables fast. Many professionals need GPU rendering for:

• 3D animation and modeling
• Video production and editing
• Architectural visualization
• Product visualization

Scientific and Data Workloads

CUDA accelerated workloads, simulations, and data engineering. GPUs speed up:

• Scientific simulations
• Data processing and analytics
• Machine learning training
• Cryptocurrency research and development

Other PoW Networks

Niche coins still target GPUs. Treat them like experiments and check liquidity before you commit. Examples:

• Ethereum Classic (ETC)
• Ravencoin (RVN)
• Various smaller altcoins

However, profitability is usually poor, and liquidity is low. Mining these often loses money after electricity costs.

Compute Marketplaces

Rent your GPU to others in a controlled setup if you are willing to run a tight ship. Platforms like:

• Vast.ai
• RunPod
• Lambda Labs

Require technical knowledge and security considerations, but can provide steady income.

PoW Due Diligence That Actually Matters

If you're considering mining other Proof of Work coins, evaluate these factors:

Algorithm Fit

Memory bound vs core heavy. Know what your card is good at:

• Memory-bound algorithms: Favor cards with high memory bandwidth
• Compute-bound algorithms: Favor cards with many CUDA cores
• ASIC-resistant: Some algorithms resist ASICs, keeping GPU mining viable longer

Liquidity

Where to sell, spreads, and depth. Thin books erase gains. Check:

• Which exchanges list the coin
• Trading volume and depth
• Ease of converting to major coins
• Withdrawal limits and fees

See our Market Fundamentals guide for more on liquidity.

Emission and Difficulty

Watch inflation and hashrate trends, not just price:

• Inflation rate: How many new coins are created daily
• Difficulty trends: Is hashrate increasing or decreasing?
• Block rewards: How much do miners earn per block?
• Halving schedules: When will rewards decrease?

Dev Activity

Ship velocity beats hype every time. Check:

• GitHub commit activity
• Recent updates and improvements
• Roadmap progress
• Community engagement

Pool Decentralization

One pool dominance is a risk you do not need. If a single pool controls over 50% of hashrate, that's a centralization risk. Look for:

• Multiple competing pools
• Reasonable distribution of hashrate
• No single entity controlling majority

Best Picks by Use Case

Instead of a fake top 10 for ETH, use buckets that age well. Match the job to the class of card.

AI Heavy

24 GB class or higher for fewer compromises. Favor strong memory bandwidth and stable driver support. Examples:

• NVIDIA RTX 4090 (24 GB)
• NVIDIA RTX 3090 (24 GB)
• NVIDIA A100 (40/80 GB, data center)

Balanced Dev Box

12 to 16 GB class for local inference, light fine tunes, and general compute without drama. Examples:

• NVIDIA RTX 4070 Ti (12 GB)
• NVIDIA RTX 4080 (16 GB)
• NVIDIA RTX 3060 (12 GB)

Render First

Cards that your render engine benchmarks well with, plus cooling that keeps clocks high. Focus on:

• Performance per dollar
• VRAM for large scenes
• Stable performance under load

Frugal PoW Experiments

Efficient cards with good perf per watt. Only if your power rate makes sense. Older cards like GTX 1660 or RTX 3060 can work if power is cheap.

Smart Ways to Repurpose Your Old Mining Rig

If you have GPUs from mining ETH, here are productive uses:

Home Lab GPU Node

Proxmox or Kubernetes for scheduled inference and batch jobs. Run:

• Local AI models
• Personal projects
• Development and testing
• Learning and experimentation

Media and Render Box

Turn time saved into client work or content output. Use for:

• Video editing and rendering
• 3D modeling and animation
• Content creation
• Freelance work

Edge AI

On-prem transcription, analytics, and low latency copilots with your data. Applications:

• Voice assistants
• Image recognition
• Data analysis
• Automation

Winter Heat Reuse

Useful compute that also warms the room is not the worst combo. Running AI workloads or rendering can heat your space while providing value.

Cost Reality Check

Model scenarios with power, cooling, downtime, pool fees, and hardware wear. If small swings in price or difficulty delete profit, call it a hobby and enjoy it like one.

Calculate True Costs

Don't just look at electricity. Include:

• Electricity: Power consumption × rate × hours
• Cooling: AC costs to manage heat
• Hardware wear: Depreciation and replacement
• Pool fees: Typically 1-2% of earnings
• Downtime: Maintenance and failures
• Time: Monitoring and management

Profitability Calculators

Use mining profitability calculators, but be realistic:

• They assume perfect uptime (unrealistic)
• They don't account for difficulty increases
• They assume current prices hold (volatile)
• Add buffer for unexpected costs

Security Basics

Mining and GPU compute require security considerations:

Wallet Security

• Keep wallets off machines that run random containers or miners
• Use dedicated wallets for mining payouts
• Don't store significant funds on mining rigs
• Use hardware wallets for larger holdings

System Security

• Patch drivers and containers on a cadence. Old images get you popped
• Use separate networks for mining rigs
• Monitor for unauthorized access
• Use reputable mining software

Hardware Monitoring

• Monitor temps and power. Throttling taxes yield and stability
• Watch for hardware failures
• Keep systems clean and well-ventilated
• Replace thermal paste periodically

Bottom Line

Ethereum GPU mining is dead. But GPUs are still valuable for AI, rendering, and other compute workloads. Before mining other coins, do the math and check liquidity. Often, repurposing rigs for AI or rendering provides better returns than mining alternative coins.