As of July 2018, Ethereum mining is based on a Proof of Work (PoW) algorithm. Miners compete to solve math problems and are rewarded with Ethereum if they are the first to do so.
The more miners that join the network, the more difficult the math problems become. As a result, it can take days or even weeks for a slower miner to successfully mine a block of transactions and receive their reward.
NOTE: WARNING: Mining Ethereum with a 1060 3GB GPU is not recommended due to the reduced amount of memory available. The Ethereum network requires a minimum of 4GB memory to function correctly, and the 3GB model may have difficulty keeping up with the network’s demands. Additionally, mining profitability can be significantly impacted by the amount of memory available on the GPU, so it is likely that a 1060 3GB would be less profitable than other models.
A 1060 3GB can mine Ethereum if it’s part of a mining pool. When miners work together in a pool, they share their processing power and rewards are distributed evenly among all members of the pool.
However, solo mining is no longer profitable due to the difficulty of the math problems.
In conclusion, a 1060 3GB can mine Ethereum as part of a pool, but solo mining is no longer profitable.
3 Related Question Answers Found
The short answer is yes, a GTX 1060 can mine Ethereum. The longer answer is that it depends on a few things, such as your electricity cost, the hashrate of your 1060, and the current price of Ethereum. Let’s take a closer look at each of these factors.
The Antminer D3 is a powerful ASIC miner that is designed for mining cryptocurrencies that use the X11 algorithm. This includes popular coins such as Dash, Litecoin, and Bitcoin Cash. While the D3 is not specifically designed for Ethereum mining, it is still possible to mine ETH with this rig.
As cryptocurrency prices continue to surge, many people are wondering if they can cash in on the craze by mining Ethereum with their NVIDIA GTX 1050 Ti graphics card. The GTX 1050 Ti is a popular budget-friendly graphics card that is capable of delivering decent gaming and mining performance. So, can it be used for mining Ethereum?
