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Geforce GTX 1060

Official Geforce GTX 1060 product specs:

  1. GPU architecture: Pascal
  2. Memory speed: 8 Gbps
  3. Boost clock: 1.4x (1708 MHz)
  4. CUDA cores: 1280 for 6Gb GPU and 1024 for 3Gb GPU
  5. Memory: 3Gb and 6Gb

Today, we are going to review the hashrate of Nvidia GTX 1060 video card when mining via various algorithms. Unfortunately, the 3GB GPU model for Ethereum mining will only be available till 2019. Subsequently, 3GB video cards will no longer store the ETH DAG-file which keeps getting larger. For this reason, we will consider the 3GB model with regards to obtaining Zcash (Equihash) only.

Table of contents

  1. GTX 1060 6Gb: base (stock) clock and boost clock
  2. ETH and ZEC mining with GTX 1060
  3. Reducing power consumption of GTX 1060
  4. Gigabyte Geforce GTX 1060 6GB: mining productivity upon overclocking
  5. Monthly profitability of a mining rig: 6x Geforce GTX 1060 6Gb
  6. GTX 1060 or GTX 1070?

GTX 1060 6Gb: base (stock) clock and boost clock

In March, while introducing GeForce GTX 1080 Ti, Nvidia released two updates: GeForce GTX 1060 9 Gbps and GeForce GTX 1080 11 Gbps. The new video cards with increased video memory gained a lot of traction. We got particularly interested in GTX 1060 with 9 GHz GDDR5 instead of 8 GHz GDDR5. To be more precise, we’re talking about ASUS GeForce GTX 1060 OC 6GB 9Gbps here and we have set to test its mining productivity.

The GTX 1060 6Gb has a rather high stock rate but the real fun starts once the card is boosted. Compared to GTX 1050 Ti, GTX 1060 has an amazing overclocking potential. For the testing purposes, we were using ВК Gigabyte Geforce GTX 6Gb run on a dual-core processor and the following mining software: Claymore AMD + NVIDIA GPU Miner v9.6, EWBF’s CUDA Zcash miner and Nvidia Optimised Ethminer and NiceHash.

The hashrate for Ethereum mining as per the stock rate amounted to 19 MHS/sec with the power consumption of 100W and the temperature of the video card at 68℃.

We were able to boost the clock to 4700 Mhz (+925 Mhz). Overclocking like this can only be achieved with the help of MSI Afterburner or a similar applet. For Ethereum mining, this increased the hashrate to 23.7-25 MHS/sec. At the same time, the power consumption grew to 120W.

All in all, this makes Geforce GTX 1060 one of the top revenue-generating video cards for mining considering current prices, complexity of Ethereum mining and electricity costs of $0.1 per kWh. At this point, it’s worth mentioning that GTX 1060’s cooling system is remarkably good at keeping the GPU temperature at 56-60℃ and fan speed at 65%. The video card could be further boosted which would lead to the higher hashrate, yet would also destabilize the mining process.

ETH and ZEC mining with GTX 1060

This model deploys a faster Samsung GDDR5 memory, which makes the card more attractive in terms of popular crypto-algorithms for mining Equihash and Ethash. We set out to test its productivity while mining ETH and ZEC despite the fact that the GTX 1060 memory bus only has 192 bits. This turned out to be a significant constraint. So the question is how exactly GTX 1060 will be able to compete with GTX 1070. The latter has a slower GDDR5 memory boosted to 8GHz (which is the base GTX 1060 clock), although the 256-bit memory bus and a significantly higher number of CUDA cores are used.

As for the productivity of Ethereum (ETH) mining, we were not happy with the latest Claymore ETH miner with its 17 MHS default set of options. However, given the 192-bit memory bus, we were prepared for the worst results while hoping that the boosted memory would compensate for the loss. The GTX 1070 produced approximately 25 MHS at default options. Productivity can be increased by boosting the memory. Boosting GTX 1060 9Gbps was helpful but still the results could not exceed 19 MHS.

Mining Zcash (ZEC) turned out to be more successful producing approximately 300 Sol/s. We were using default options and EWBF ZEC miner for GTX 1060 9Gbps. At the same time, GTX 1070 predictably produced a much better result: over 400, up to 450-460. It seems that 9 GB memory in the GTX 1060 does not really affect mining productivity and the card would suit purely gaming purposes better. Considering that GTX 1060 9Gbps is not that much more expensive than GTX 1070, there is little point in chasing after a large memory since the productivity of the video cards differs insignificantly.

Reducing power consumption of GTX 1060

You may want to reduce the power consumption of the video card together with overclocking it, if electricity is expensive in your area. Having lowered the power target limit, you will observe a simultaneous reduction of the hashrate. However, this reduction occurs at a lower rate than the power consumption reduction. For example, a 30% reduction of the power target (i.e., performance at 70% of its nominal value) causes only 0.3 MHS/sec loss. This means that your card will produce 23.5-24.7 MHS/sec while only consuming 80 watts.

In order to achieve this result, make sure that the memory is boosted to 4,700 MHz (+925). Given that the average cost of electricity in most regions is $0.1 per kW/h, reducing power consumption is going to be a smart step. It is also worth noting that reducing power consumption of the video card further lowers the temperature of the GPU (in our case, down to 58℃).

 

Gigabyte Geforce GTX 1060 6GB: mining productivity upon overclocking

Ethereum Mining (Claymore’s)

Hashrate: 23.5 MHS/sec

Clock: +107 МHz/+918 МHz

Power Limit: 65%

Power consumption: 75W

Ethereum Mining (Nvidia Optimized Ethminer)

Hashrate: 25 MHS/sec

Clock: +100 МHz/+935 МHz

Power Limit: 65%

Power consumption: 80W

Ethereum Dual Mining + Decred (Claymore’s)

Hashrate: 22.7 MHS/sec ETH + 227.5 MHS/sec Decred

Clock: +107 МHz/+918 МHz

Power Limit: 80%

Power consumption: 95W

Ethereum Dual Mining + Siacoin (Claymore’s)

Hashrate: 22.7 MHS/sec ETH + 227.5 MHS/sec Siacoin

Clock: +107 МHz/+918 МHz

Power Limit: 80%

Power consumption: 95W

Zcash Mining: no overclocking and limit reduction (EWBF’s)

Hashrate: 295 Sol/sec

Clock: +0 МHz/+0 МHz

Power Limit: 100%

Power consumption: 130W

Zcash Mining with subsequent overclocking and limit reduction (EWBF’s)

Hashrate: 320 Sol/sec

Clock: +107 МHz/+926 МHz

Power Limit: 85%

Power consumption: 100W

NiceHash Mining

  1. NeoScrypt (experemental): 0.413 MHS/sec (~0.000361 BTC in 24 hrs)
  2. Lyra2Rev2 (ccminer): 21.32 MHS/sec (~0.000524 BTC in 24 hrs)
  3. Dagger-Hashimoto (ethminer): 21.45 MHS/sec (~0.00076 BTC in 24 hrs)
  4. Decred (ccminer): 1.655 GHS/sec (~0.000526 BTC in 24 hrs)
  5. LBRY (ccminer): 0.18 GHS/sec (~0.0006 BTC in 24 hrs)
  6. Equihash (excavator): 280 Sol/sec (~0.000616 BTC in 24 hrs)
  7. Pascal (excavator): 0.618 GHS/sec (~0.000235 BTC in 24 hrs)
  8. X11 Ghost (ccminer): 4.895 MHS/sec (~0.000351 BTC in 24 hrs)
  9. X11 Ghost (ccminer Alexis): 8.193 MHS/sec (~0.000588 BTC in 24 hrs)

Monthly profitability of a mining rig: 6x Geforce GTX 1060 6Gb

Ethereum + Decred Dual Mining

Ethereum hashrate: 136 MHS/sec

Decred hashrate: 1365 MHS/sec

6x GTX 1060 power consumption: 650W (power supply recommended for the system is 850-1000W)

Electricity costs: $46 per month

Current profit (electricity costs included): $265.1 (as of July 16, 2017)

Ethereum + Siacoin Dual Mining

Ethereum hashrate: 136 MHS/sec

Decred hashrate: 1365 MHS/sec

6x GTX 1060 power consumption: 650W (power supply recommended for the system is 850-1000W)

Electricity costs: $46 per month

Current profit (electricity costs included): $262.7 (as of July 16, 2017)

Zcash mining

Zcash hashrate: 1920 Sol/sec

6x GTX 1060 power consumption: 700W (power supply recommended for the system is 850-1000W)

Electricity costs: $46 per month

Current profit (electricity costs included): $298 (as of July 17, 2017)

It’s worth noting that GTX 1060 with 3GB of video memory is particularly effective for Zcash mining. This GPU produces approximately 300 Sol/sec as per the stock clock using EWBF’s Zcash miner which is the most efficient option for this algorithm. Today, if you buy expensive video cards (even Computer Universe offers these starting from RUB 20,220 like Palit Geforce GTX 1060 6GB), ROI for Ethereum mining with GTX 1060 is expected to be reached in 267 days (which is almost 9 months!) At the same time, this figure only takes into account the power consumption of the video card at $0.1 per kWh and excludes the cost of other equipment such as motherboard, processor, power supply for the mining rig, etc.

You may already know that different video memory manufacturers produce different GPU GTX 106-based video adapters. It has been confirmed that Samsung video cards typically have a higher hashrate than Hynix. Gigabyte GTX 1060 video adapter is not known to cause any temperature issues. In the majority of cases, particularly if the power consumption limit is reduced, it won’t require turning on the fans.

GTX 1060 or GTX 1070?

We will be comparing video cards based on the following algorithms: Ethash (Ethereum and Ethereum classic) and Equihash (Zcash and Zcash classic). Being the most popular amongst miners, these cryptocurrencies are also becoming more expensive.

As for the video cards, we will be using Geforce GTX 1060 and Geforce GTX 1070. I’d like to point out that just like in case with Radeon, high price is not the criterion for excellence. Going forward, Radeon RX470 and Geforce GTX 1060 produced the best results. At the same time, Geforce GTX 1060 turned out to be the best with regards to the price/hashrate ratio.

Geforce GTX 10603-6 GB (192 bit)GDDR5

 

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Geforce GTX 10708 GB (256 bit)GDDR5

 

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It’s worth noting that Geforce GTX 1070 has an 8-pin power connector which fact you should take into account when buying a power supply. As a result, you may incur additional costs and to compensate for those, you would need to earn extra revenue.

I’d also like to stress once again that all video cards were tested in their default (i.e., not boosted) mode. Re-flashing and boosting of cards terminate the warranty.

The table below outlines parameters of the card. The last two columns provide Ethash and Equihash rate, respectively:

Geforce GTX 1060GeForce GTX1060 Palit Dual PCI-E 3072Mb20 Mh/s290 H/s
Geforce GTX 1070GeForce GTX1070 Palit Dual PCI-E 8192Mb28 Mh/s420 H/s

It’s worth remembering about the big price difference between Geforce GTX 1060 and Geforce GTX 1070. While the first costs up to RUB 13,000, the latter costs over RUB 20,000-22,000. Radeon’s models have a RUB 3,000 price difference. It might make sense to incur such costs if you’re gamer but this is definitely not the option for miners.

Below you can see the table with ROI figures (including and excluding electricity costs):

Geforce GTX 1060154 days (19.4% per month)130 days (23% per month)
Geforce GTX 1070185 days (16.2% per month)162 days (18.5% per month)

The power consumption of nVidia is about the same as that of Radeon. However, it provides a higher hashrate. You can observe the difference in the table below:

Mining rigPower consumptionCost of the rig (CU)Ethash hashrateEquicash hashrateRUB/Mh (Ethash)RUB/Mh (Equicash)
4*GF1060700WRUB 63,80080 Mh/s1160 H/s79755
4*GF1070850WRUB 108,400112 Mh/s1680 H/s96764.5

As we can see, Equihash hash costs using GF 1060 are the lowest among all (as of now, it is considered the most profitable mining algorithm). Radeon RX470 costs RUB 62.5. However, Radeon RX470 is more affordable if Ethash algorithm is used. Considering the recent Ethereum price hike, this info can be very helpful.