Is Mining Still Worth It on a Palit GeForce RTX 3080 After Ethereum's Shift to PoS?
GPU mining was quite profitable for miners during 2020-2021. Enthusiasts flooded the market, snatching up graphics cards at an astonishing rate. This surge in demand not only drove up prices but also caused a significant shortage of these devices, making them more valuable than ever.
The drop in cryptocurrency prices turned the tide for many miners, making GPU mining no longer profitable. As a result, miners began offloading their once-coveted equipment, which in turn led to a decline in graphics card prices.
GPU Mining: Current State
The main and popular cryptocurrency mined with graphics cards was Ethereum (ETH). In mid-September, ETH underwent a major blockchain upgrade known as 'The Merge,' which marked its transition from the mining-based Proof-of-Work (PoW) algorithm to the more energy-efficient Proof-of-Stake (PoS) system.
After Ethereum's 'Merge' miners who previously focused on ETH shifted to mining other altcoins that still operate on the Proof-of-Work algorithm. This caused a massive increase in their hashrates. However, the altcoin prices, which had grown in anticipation of Ethereum's upgrade, dropped substantially afterwards.
You can easily find the example of hashrate and price changes on the CoinMarketCap website for one of the popular mining coins—Ravencoin (RVN):
The same happened to other coins operating on the Proof-of-Work algorithm. Ethereum Classic (ETC) is another popular digital coin in the crypto world. You can find its price and hashrate changes on the CoinMarketCap website:
Increasing hashrate means your equipment mining fewer coins since their share of the total network hashrate decreases.
The Ravencoin hash rate increased sixfold, indicating that miners are now earning six times less RVN. Coupled with the cryptocurrency's price decline, this has made mining increasingly unprofitable for many users.
Experienced miners believe that it's vital to continue mining even when cryptocurrency prices are in a downturn since mining is considered as a long-term endeavor. Also, you need to maintain your emergency fund to cover current expenses. As a result, when the prices of mined cryptocurrencies will rise again, the miners’ efforts will be rewarded.
Nvidia GeForce RTX 3080
Nowadays, the most efficient Nvidia graphics cards for mining are the latest models: the GeForce RTX 3090 and the GeForce RTX 3080.
These graphics cards can produce positive returns at an electricity price of $0.06 even along with the significantly increased hashrate and decreased cryptocurrency prices.
Let's take a closer look at the GeForce RTX 3080 graphics card. This series includes two models: RTX 3080 and RTX 3080 Ti.
If you’re wondering whether RTX 3080 crypto mining will be profitable, you should pay closer attention to its characteristics.
RTX 3080 is available in two versions: one with 10 GB and another with 12 GB GDDR6X RAM. The base clock speed of these cards is 1.44 GHz and 1.26 GHz. It’s worth noting that they can be overclocked to reach up to 1.71 GHz. Both RTX 3080 models come with the new Ampere architecture, featuring 8 704 and 8 960 Nvidia CUDA cores.
The RTX 3080 Ti comes with 12GB of GDDR6X RAM and a GPU with 10 240 Nvidia CUDA cores with a base clock speed of 1.37GHz, which can be increased up to 1.67GHz.
Different cryptocurrencies use various hashing algorithms to compute hashes. According to the online calculator 2CryptoCalc, the performance of the RTX 3080 for the most popular hashing algorithms is as follows:
A more powerful graphics card has a higher hashrate:
At the beginning of 2021, Nvidia began implementing hashrate limiter technology in its RTX 30 series graphics cards to deal with Ethereum mining. This feature, known as Lite Hash Rate (LHR), was designed to reduce the hashrate for the Ethash algorithm when mining cryptocurrency with this graphics card.
According to information on Nvidia's website, starting in May 2021, RTX 3080 and RTX 3080 Ti graphics cards will have the LHR algorithm and can provide a hashrate of up to a maximum of 43 MH/s for Ethereum mining on Ethash.
Leaks and hacking attacks made the source codes of the drivers for the hashrate limiting drivers accessible to developers. Consequently, the LHR algorithm was completely unlocked through the latest versions of cryptocurrency mining software, including NBMiner, T-Rex, LoLMiner, and others.
Palit GeForce RTX 3080
If you’re eager to learn about RTX 3080 mining profitability and whether it’s worth buying for mining, you should consider this graphics card model in detail.
Nvidia is the manufacturer of GeForce RTX 3080 graphics chips. The video cards with these chips are produced by many computer hardware companies, including ASUS, Palit, MSI, Gigabyte, and others. Each manufacturer aims to increase the device's performance by improving its cooling systems, design, architecture, and adding various connectors and ports. However, the main characteristics of a video card that influence cryptocurrency mining performance remain unchanged.
Graphics cards manufactured by Palit are one of the best and most affordable on the crypto market.
Palit offers a comprehensive lineup for the RTX 3080 series, featuring two distinct models: GamingPro and GameRock. Each of these models is available in six different versions, resulting in a total of 12 unique RTX 3080 graphics cards from Palit. The manufacturer presents three distinct options for the RTX 3080 Ti series: GamingPro, GameRock, and GameRock OC.
As of June 2024, the retail price for new Palit GeForce RTX 3080 and RTX 3080 Ti graphics cards starts at $1 000 in specialized stores. Depending on the operation term, you can also find these devices on the secondary market, including Amazon and eBay marketplaces, starting from $500.
Palit 3080 Gaming Pro Mining Options
You can mine many cryptocurrencies with the Palit 3080 Gaming Pro since it supports various hashing algorithms. To maximize the efficiency of the graphics card, it should be overclocked and the Nvidia hashrate limiter bypassed. According to Whattomine data, at the time of this article's release, the most profitable cryptocurrency for mining is Nimiq (NIM) earning approximately 18 cents per day.
Palit GeForce RTX 3080 GamingPro Graphics Card: Dual Mining
There is a chance to use your graphics card for dual mining. It gives you an opportunity to mine two different cryptocurrencies that operate on separate hashing algorithms. This can be possible because different hashing algorithms use multiple computing powers of the GPU.
Some algorithms rely on the card’s processor (GPU cores), while others leverage the card’s memory (VRAM). This dual-purpose capability allows for more efficient use of the hardware and can potentially increase your overall mining profitability.
It’s worth noting that this dual-mining capability is particularly attractive for mining farm owners since it allows for more efficient usage of the card's resources and can increase your earnings by diversifying mining activities.
Power and Hashrate of the Palit GeForce RTX 3080 GamingPro: Unlocking the Potential of Dual Mining with Ergo (ERG) and Kaspa (KAS)
The Ergo coin operates on the Autolykos hashing algorithm. When using the Palit GeForce RTX 3080 GamingPro graphics card, this algorithm achieves a hashrate of 220 MH/s, drawing just 220 watts of power.
Kaspa operates on the kHeavyHash hashing algorithm. The Palit GeForce RTX 3080 GamingPro graphics card can achieve a staggering hashrate of 850 MH/s on this algorithm, consuming just 260 watts of power. When dual mining ERG and KAS, this powerful GPU can earn you 17 cents per day at current cryptocurrency prices.
When dual mining Ethereum Classic (ETC) and Alephium (ALPH), the Palit GeForce RTX 3080 GamingPro delivers impressive performance. Ethereum Classic runs on the Etchash algorithm, where this GPU achieves a hashrate of 98 MH/s while consuming 240 watts of power.
Alephium (ALPH) operates on the Blake3 hashing algorithm, where the Palit GeForce RTX 3080 GamingPro truly shines. In this algorithm, the GPU achieves an impressive hashrate of 2.1 GH/s while drawing 270 watts of power.
According to the Minerstat online calculator, at current cryptocurrency prices, the Palit GeForce RTX 3080 GamingPro can earn 32 cents per day when dual mining Ethereum Classic (ETC) and Alephium (ALPH).
Palit GeForce RTX 3080 GamingPro: Dual Mining Ethereum Classic (ETC) + Kaspa (KAS)
According to the Minerstat online calculator, when dual mining Ethereum Classic (ETC) and Kaspa (KAS), the Palit GeForce RTX 3080 GamingPro can earn you 32 cents per day at current cryptocurrency prices.
Overclocking Palit GeForce RTX 3080 for Mining
Before overclocking the Palit GeForce RTX 3080 for mining, it's worth mentioning that each graphics card is unique and responds differently to parameter adjustments. All GPUs are made from silicon, which can vary in architecture. As a result, overclocking can often lead to improved performance, but in some cases, it can also cause the card to fail. This element of unpredictability in GPU overclocking is known as the ‘silicon lottery.’
One of the popular tools for overclocking graphics cards is MSI Afterburner. This program allows you to fine-tune your GPU settings by adjusting various 'sliders' to achieve the desired performance.
When overclocking your graphics card, it’s crucial to make adjustments gradually and monitor the temperature and performance after each change. If you notice any deviations or overheating, it’s important to stop the overclocking process and revert to the previous settings. This approach helps stabilize the temperature and prevent excessive heat, ensuring the longevity and reliability of your GPU.
Let's consider the overclocking settings on the main hashing algorithms available for calculations on the Palit GeForce RTX 3080 graphics card.
Overclocking Palit GeForce RTX 3080 for Mining on Etchash Algorithm (for ETC)
Settings for overclocking a graphics card for both Etchash and Ethash algorithms are quite similar. If you’re eager to achieve optimal performance with these settings, it’s recommended to use the mining programs like:
- LoLMiner
- Trex
- Gminer
Here’s a table outlining three overclocking options for the graphics card: minimal, medium, and maximum. Keep in mind that higher levels of overclocking increase the risk of potential hardware failure.
For hashing algorithms like Ethash and Etchash, which are memory-intensive, the focus during overclocking should be on the memory frequency.
| Overclocking Level | Core frequency | Memory frequency | Power Limit | Fan Speed | Hashrate | Power consumption |
| Minimal | 1200 MHz | 1800 MHz | 250 watts | 70% | 96,43 MH/s | 250 watts |
| Medium | 1200 MHz | 2200 MHz | 240 watts | 70% | 98,92 MH/s | 223 watts |
| Maximum | 1200 MHz | 2600 MHz | 240 watts | 70% | 101,58 MH/s | 224 watts |
Overclocking Palit GeForce RTX 3080 for Mining on Autolykos Algorithm (for ERGO)
It’s advisable to use the T-Rex mining program for overclocking a graphics card on the Autolykos algorithm.
| Overclocking Level | Core frequency | Memory frequency | Power Limit | Fan Speed | Hashrate | Power consumption |
| Minimal | 1700 MHz | 2000 MHz | 250 watts | 70% | 220,71 MH/s | 200 watts |
| Medium | 1700 MHz | 2200 MHz | 250 watts | 70% | 225,18 MH/s | 214 watts |
| Maximum | 1700 MHz | 2600 MHz | 250 watts | 70% | 228,22 MH/s | 213 watts |
Overclocking Palit GeForce RTX 3080 on the Octopus algorithm for CFX mining.
| Overclocking Level | Maximum |
| Core frequency | 200 MHz |
| Memory frequency | 2100 MHz |
| Power Limit | 260 watts |
| Fan Speed | 70% |
| Hashrate | 90,73 MH/s |
| Power consumption | 260 watts |
Overclocking Palit GeForce RTX 3080 on the KawPow algorithm for RVN mining. It’s recommended to use the Trex mining program for overclocking the graphics card on KawPow algorithm.
| Overclocking Level | Medium |
| Core frequency | 0 MHz |
| Memory frequency | 2000 MHz |
| Power Limit | 250 watts |
| Fan Speed | 70% |
| Hashrate | 42,17 MH/s |
| Power consumption | 250 watts |
Profitability and ROI of Palit GeForce RTX 3080 Graphics Card
Considering the Palit GeForce RTX 3080 current price and the mined coins, it’ll take between 7.5 and 14.5 years to provide ROI, which might seem less attractive in terms of return on investment.
However, experienced miners often mine crypto with the expectation of significant future price increases that could greatly surpass the initial costs of mining.
F.A.Q.
Выгодно ли майнить на видеокарте Palit GeForce RTX 3080?
Видеокарта Palit GeForce RTX 3080 позволяет добывать множество криптовалют. Также при помощи этой видеокарты можно заниматься двойным майнингом, добывая одновременно две криптовалюты. В текущих условиях, когда хешрейт большинства криптовалют кратно вырос, а их стоимость упала, майнинг стал не столь выгодным, как раньше. Майнеры, которые рассчитывают на рост стоимости криптовалют в будущем, продолжают добывать монеты при помощи графической карты Palit GeForce RTX 3080.
Is it profitable to mine on Palit GeForce RTX 3080?
The Palit GeForce RTX 3080 graphics card allows mining a wide range of cryptocurrencies and supports dual mining. Nowadays, mining has become less profitable since cryptocurrencies are in a downturn and hashrates for most cryptocurrencies have increased. However, miners who anticipate future increases in cryptocurrency prices continue using Palit GeForce RTX 3080 to mine coins, banking on future gains to offset present challenges.
What is the ROI of the Palit GeForce RTX 3080?
Considering the current low cryptocurrency prices and their high hashrate, it’ll take approximately 7.5 years to provide this graphics card’s ROI.
Is Palit GeForce RTX 3080 available for sale?
You can find these graphics cards available for purchase both at specialized computer hardware stores and on marketplaces, including Amazon and eBay.
How much does the Palit GeForce RTX 3080 cost?
As of June 2024, the price for Palit GeForce RTX 3080 in stores starts at $1 000. You can also find used graphics cards on marketplaces starting from $500.
Does the LHR limiter apply to Palit GeForce RTX 3080 video cards?
Graphics chip manufacturer Nvidia implements an LHR mining limiter on all RTX 30 series graphics cards. However, this restriction applies only to the Ethash hashing algorithm and can be fully bypassed in the latest versions of mining software.
