NiceHash managed to fully unlock LHR graphic cards for mining. Now miners are boasting with new profit calculations. The profitability of Ethereum mining is still quite impressive.
Yesterday, May 7, NiceHash, one of the leading developers of mining software, released a new version of QuickMiner with full LHR unlock for Nvidia graphic cards.
NiceHash claims that LHR (Lite Hash Rate) GPUs are now fully utilized for Ethereum mining.
Previously, other mining software showed up to 70% unlock capabilities.
Miners all over the world were eager to try the new QuickMiner with 100 percent LHR unlock. And they have already posted impressive results.
How does NiceHash QuickMiner LHR unlock works?
Previous attempts to circumvent Nvidia’s LHR limitations were only partly successful. When taking two similar Nvidia GeForce RTX 30 cards for comparison miners could see the clear difference. The LHR cards could give up to 60-70% of the productivity (and profitability) of the regular versions of the same cards.
Ethereum mining was still quite profitable, but how is the situation changing now?
Well, with NiceHash 100% LHR Unlock the profitability is increasing substantially.
The hash rate for Ethereum mining with QuickMiner, using the DaggerHashimotto algorithm, is absolutely equal for LHR and non-LHR cards now. Hence the profitability is equal too.
For example, some miners post the RTX 3090 TI produces roughly 125-130 MH/s. That gives you roughly $4-$5 per day. Thus, the card will pay for itself in just 400 days (more than a year), electricity costs not included.
The RTX 3080 generates roughly $3-$3.5 in revenue. It will take 250 days to fully recoup its investment. Quite an impressive result from NiceHash LHR unlock.
Is it a good idea to buy hardware for Ethereum mining now?
Assuming that Ethereum is inevitably switching to Proof-of-Stake (PoS) later this year, talking about new mining hardware might seem a bit silly.
But many miners aren’t concerned with the Merge too much. They claim Ethereum has been postponing the switch to PoS for a while now. And it is quite possible that it will be put to the next year once again.
Other miners are rather confident that even if the Merge is to occur, there will definitely be another coin instead of Ethereum to keep mining profitable.
Anyways, NiceHash full LHR unlock is a bad news for gamers.
The whole idea of LHR cards was to make them unattractive for miners. That would be a relief for a tightened GPU market where miners were buying out everything they could, leaving gamers without GPUs.
Nvidia was obviously trying to be clever, but miners outsmarted the chipmaking company with unlock at 70% which kept Ethereum mining profitable.
Now with the NiceHash full LHR unlock the gamers are in danger once again. Miners will keep sweeping the GPU from the store shelves in a desperate effort to mine as much Ethereum as possible until the Merge happens.
NiceHash 100% LHR unlock – key takeaways
- NiceHash QuickMiner allows for mining Ethereum with 100% effectiveness no matter if your GPU is LHR or non-LHR
- The whole Nvidia LHR card idea is now out of the window now, miners have won.
- Gamers might be suffering again from GPU shortage because of the miners who won’t be afraid to by LHR video cards anymore. All kudos to NiceHash LHR unlock, of course.