Update: Ravencoin has switched to the new KawPoW mining algorithm. The main reason for this switch was to protect the network against ASICs. If you are a GPU miner, this is great news. This means GPU miners will reap even higher profits.
What makes Ravencoin even more profitable is the fact that it uses X16R algorithm. This algorithm is designed to be ASIC resistant. X16R algorithm uses 16 different algorithms. What is unique about X16R is it rotates through all 16 algorithms in random, Hence the letter “R” which stands for random or Ravencoin. The order of these 16 algorithms changes based on the hash of the previous block. This dynamic nature of X16R algorithm makes it difficult to build an ASIC. However, it is not impossible. It’s only a matter of time until someone builds an ASIC for hashing X16R. However, Ravencoin team has committed to change the algorithm if they find any ASICs being developed.
So, this means, it is a great opportunity for GPU miners. However, to mine Ravencoin profitably, you must own a powerful graphics card. But, not just any powerful graphics card; you need to find one that consumes less power and generates a high hash rate. The price of the graphics card is another important factor of consideration. When you shop for a graphics card, you need to find one with the best balance between the three.
Following are some of the best graphics cards for mining Ravencoin:
|Graphics Card||Hash Power (KawPoW)||Power Consumption||Efficiency||Price||Profit|
|RTX 2080 Ti||31.5 MH/s||220 W||6.98 W/MH||Check Price||Check|
|RTX 2080||26.50 MH/s||190 W||7.17 W/MH||Check Price||Check|
|RTX 2070||21.00 MH/s||150 W||7.14 W/MH||Check Price||Check|
|RTX 2060||18 MH/s||130 W||7.22 W/MH||Check Price||Check|
|GTX 1660 Ti||13.30 MH/s||90 W||6.79 W/MH||Check Price||Check|
|GTX 1660||10.70 MH/s||90 W||8.41 W/MH||Check Price||Check|
|GTX 1080 Ti||21.50 MH/s||190 W||8.84 W/MH||Check Price||Check|
|GTX 1080||16.90 MH/s||160 W||9.47 W/MH||Check Price||Check|
|GTX 1070 Ti||15.00 MH/s||130 W||8.67 W/MH||Check Price||Check|
|GTX 1070||14.50 MH/s||130 W||8.97 W/MH||Check Price||Check|
|GTX 1060||9.00 MH/s||90 W||10.00 W/MH||Check Price||Check|
|GTX 1050 Ti||6.40 MH/s||80 W||12.5 W/MH||Check Price||Check|
|Radeon VII||30 MH/s||240 W||8.00 W/MH||Check Price||Check|
|Radeon RX 5700 XT||21.00 MH/s||170 W||8.10 W/MH||Check Price||Check|
|Radeon RX 5700||20.00 MH/s||170 W||8.50 W/MH||Check Price||Check|
|RX Vega 64||23.50 MH/s||250 W||10.64 W/MH||Check Price||Check|
|RX Vega 56||22.00 MH/s||230 W||10.45 W/MH||Check Price||Check|
|RX 580||13.00 MH/s||170 W||13.08 W/MH||Check Price||Check|
|RX 570||13.00 MH/s||160 W||12.31W/MH||Check Price||Check|
|RX 480||13.00 MH/s||170 W||13.08 W/MH||Check Price||Check|
|RX 470||12.50 MH/s||150 W||12.00 W/MH||Check Price||Check|
The hash rate and power consumption stats given above are under stock settings. You can tweak your mining rig to get higher hash rates or lower the power consumption. This can be achieved by overclocking, lowering the voltage, using drivers, etc.
As of now, GTX 1660 Ti is the best graphics card for mining Ravencoin. GTX 1660 Ti is capable of generating 16 Mh/s at 90 W when mining Ravencoin. It is the most efficient graphics card on our list. This graphics card offers the best value for the money. Check out GTX 1660 Ti here.
An important consideration is the type of miner software you use. Some software is optimized for mining Ravencoin, hence generating higher hash rates. Some of the best miners available for Ravencoin include:
- Ravencoin Miner
- Silent Miner
How to Calculate Ravencoin Mining Profit
If you want to estimate how much money you are going to make from mining Ravencoin, there are few things you must know. First, you need to know the hash rate of your graphics card/s, the power consumption of the mining rig, Cost per kWh ($), and pool fees.
After you know all this information, use Ravencoin calculator. Enter hash rate, power consumption, electricity cost, pool fees and click calculate. You will a breakdown of your estimated earnings.
If you have a powerful mining rig, you can mine almost any cryptocurrency. Ravencoin is just one example. Mining profitability of cryptocurrency changes all the time. If you want to find the most profitable cryptocurrency to mine, check out this article. Happy mining!