NVIDIA’s mining blockade broken!

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Goodbye to GPU gaming stock: NVIDIA’s mining blockade has been broken!

A new upgrade for the NBMiner mining program was released only yesterday, claiming to sidestep NVIDIA’s LHR limits on its RTX 30 series GPUs, allowing 70 percent of their power to be harnessed (as opposed to the 50 percent set by NVIDIA in the limitation). 

According to current sources, the power of an RTX 3060 Ti when mining with this new update reaches 40.5 MH/s, which is 35% more than the previous limit (30 MH/s), but is this enough to make mining with these graphic cards lucrative again?

The LHR limitation imposed by NVIDIA on its latest generation RTX 30 Series graphics cards is intended to discourage cryptocurrency miners from being interested in them. This limitation reduces mining power by 50%, making it unprofitable to use them for mining in most cases, and thus miners opt for other alternatives, leaving these graphics cards in stock for normal users.

NVIDIA graphics cards are still not profitable for mining!

It was just a matter of time before mining software developers found a way around NVIDIA’s LHR constraint, as predicted, and that is exactly what has happened with the latest update to the popular NBMiner software. With this update, the hashrate of the RTX 3060 Ti is now more competitive and can compete with some of the most regularly used GPUs in mining, such as the RTX 2070 or AMD’s RX 5700, albeit this is only if stock of these GPUs is available.

And, regrettably for both miners and users, the RTX 3060 Ti’s prices remain exceptionally low. Resellers on eBay, for example, are still offering these graphics cards at exorbitant prices (more than double the original price), let alone finding any of these graphics cards in regular stores. Over the last week, the average price of the RTX 3060 Ti on the used market was roughly $940.

This renders the RTX 3060Ti uneconomical to mine for the time being, despite the fact that their performance has considerably increased with the recent NBMiner upgrade. Even with a hashrate of 41 MH/s, they mean an average revenue of $3.25 per day at current pricing, so it would take around 290 days of 24/7 mining to cover the initial cost.

NVIDIA CMP

Meanwhile, the recently announced Radeon RX 6600 XTs have a mining performance of roughly 32 MH/s and are now available on the used market for a significant premium ($620 on eBay on average). This generates around $2.5 per day on average, so you’d have to keep these graphics cards mining for 248 days straight to achieve a return on your investment.

Regardless, NBMiner does provide some performance benefits for the RTX 3060Ti LHR when mining, and the same should be true for the rest of NVIDIA’s LHR GPUs. If Ethereum cryptocurrency prices continue to grow, we may see a fresh wave of miners gobbling GPU supply, upending all of NVIDIA’s efforts to counteract this trend.

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