Bitcoin mining is the process of adding new transactions to the blockchain and verifying them. This process requires a lot of computational power, which is why people use specialized hardware to mine Bitcoin. One popular graphics card for mining is the NVIDIA GeForce GTX 1050 Ti. In this article, we will explore how much Bitcoin can be mined with a 1050 Ti.
The GTX 1050 Ti is a mid-range graphics card that was released in 2016. It has 4GB of GDDR5 memory and a base clock speed of 1,290 MHz. It is also an energy-efficient card, with a TDP of only 75 watts. These specifications make it a popular choice for mining, especially for those who want to build a mining rig on a budget.
To estimate how much Bitcoin can be mined with a 1050 Ti, we need to consider several factors. The first factor is the card’s hashrate. The hashrate is a measure of how many calculations the card can perform per second. It is measured in hashes per second (H/s) or kilohashes per second (KH/s). The GTX 1050 Ti has a hashrate of around 12-14 MH/s, depending on the mining software and settings used.
The second factor is the difficulty of mining Bitcoin. The difficulty is a measure of how hard it is to find a valid block. It is adjusted every 2016 blocks, or roughly every two weeks, to ensure that blocks are found at a consistent rate. The higher the difficulty, the more computational power is required to mine Bitcoin. As of August 2021, the difficulty of mining Bitcoin is around 15 trillion.
The third factor is the current Bitcoin price. The price of Bitcoin is highly volatile and can fluctuate greatly in a short period of time. As of August 2021, the price of Bitcoin is around $45,000.
Using these factors, we can estimate how much Bitcoin can be mined with a 1050 Ti. Let’s assume that we are mining with a single 1050 Ti and that we are using a mining pool that charges a 2% fee. We will also assume that the electricity cost is $0.12 per kWh.
At the current mining difficulty and hashrate, a single 1050 Ti can mine around 0.00000114 BTC per day. This is equivalent to around $0.05 per day, or $1.50 per month. This calculation does not take into account the cost of electricity, which will reduce the profitability of mining.
To calculate the profitability of mining, we need to subtract the electricity cost from the revenue generated by mining. At $0.12 per kWh, the electricity cost of running a 1050 Ti for 24 hours is around $0.18 per day. This means that the daily profit from mining with a 1050 Ti is around -$0.13, or a loss of $3.90 per month.
In conclusion, mining Bitcoin with a 1050 Ti is not profitable in 2021. The hashrate of the card is too low to generate a significant amount of revenue, and the electricity cost is too high to make mining profitable. If you want to mine Bitcoin, you will need to invest in more powerful hardware or join a mining pool that allows you to pool your resources with other miners.