AMD Ryzen Cryptocurrency Mining: Will It Work To Mine Bitcoin?
The two major assumptions in cryptocurrency mining today is that successful mining can only be done using a mining GPU, and that cryptocurrency mining is not advisable for PC gamers and people who want to build their own PCs. However, AMD wants to dismiss these assumptions by encouraging cryptocurrency mining on its processors and by making it affordable to build high end PCs.
AMD launched its Ryzen line of high-end processors known as the ‘Threadripper’ in 2017 that seeks to provide high performance during mining of Cryptonight-based cryptocurrencies such as monero. The CPUs will also be a lot cheaper and will not contain XFR tech. The Threadripper series will utilize Simultaneous Multi-Threading technology that is available in other Ryzen chips. Its processors will use a TP3 socket. The sockets are designed for AMD’s server chips and can go up to 32 cores.
Cryptocurrency miners who utilize these processors will save money on future upgrades by leveraging the high computing power of the Threadripper. The recent increase in cryptocurrency mining has resulted in it being very difficult to find graphics cards in stock and when they are in stock, they are very expensive this will not be a problem when mining using CPUs.
AMD’s technical marketing manager, Damien Triolet believes that a lot of potential lies within their Threadripper CPUs. The CPUs are designed using the CryptoNight algorithm, which rely on 2MB of L3 cache required per mining thread in use.
The L3 cache is much higher than what its closest competitors offer at a similar price range.
The threadripper could run around 16 mining threads making it more profitable than any ASIC mining machines in the market today when paired with the right mining algorithms. The fewer threads means that memory bandwidth required is not massive therefore making the mining operation faster and highly efficient.
The Threadrippes are believed to be capable of delivering approximately $150 power month by accumulating enough virtual coins through the NiceHash mining marketplace. NiceHash is designed to simplify and make the selling of hash power easy however, it is not the most efficient or secure CryptoNight/Monero miner.
These profits are at current prices when electricity has been accounted for, however it could vary depending on the user’s location.
With these estimated earnings, a Threadripper series could return profits in less than nine months that are beyond its own MSRP. Triolet highlights the fact that people should view mining as a means to make high-end systems more accessible.