Nvidia GeForce GTX 970 Analysis: Mining Capabilities, Hashrates and Efficiency

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This post looks into the journey of the Nvidia GeForce GTX 970, a graphics card that gained popularity for its performance in gaming and later found a niche in cryptocurrency mining. It examines the card’s rise, its impact on the crypto mining landscape, and its eventual decline as technology and the crypto market evolved.

The GTX 970: A Gaming Marvel

Released in September 2014, the Nvidia GeForce GTX 970 quickly became a favorite among gamers. It offered an impressive combination of performance and affordability. Its capabilities allowed gamers to experience high-resolution graphics and smooth frame rates in demanding games. Its price point made it accessible to a wider audience. This made it a sweet spot in the market.

Nvidia GeForce GTX 970 Hashrate — Nvidia GeForce GTX 970

The GTX 970 was built on Nvidia’s Maxwell architecture. This architecture provided significant improvements in power efficiency compared to previous generations. This meant that the card could deliver high performance without consuming excessive power, making it an attractive option for gamers concerned about energy costs and system cooling.

Architecture and Specifications

The GTX 970 is based on Nvidia’s Maxwell architecture. This architecture brought improvements in power efficiency and performance compared to its predecessor, Kepler. Its specifications include 1664 CUDA cores, a base clock of 1050 MHz, and a boost clock of 1178 MHz. These specifications allowed the GTX 970 to deliver strong performance in gaming and other graphically intensive applications.

The card has a texture fill rate of 109 GigaTexels per second. This specification determines how quickly the GPU can apply textures to 3D models. It also features a 256-bit memory interface width and a memory clock of 7. 0 Gbps. These specifications allowed for a memory bandwidth of 224 GB/sec. The GTX 970 was equipped with 4 GB of GDDR5 memory.

Memory Controversy

Despite its positive reception, the GTX 970 faced controversy regarding its memory configuration. While it was advertised as having 4 GB of GDDR5 memory, it was later discovered that the memory was segmented. 3. 5 GB of the memory could be accessed at full speed. The remaining 0. 5 GB was significantly slower.

This segmentation was due to the card’s memory controller design. It impacted performance in situations where the game or application required more than 3. 5 GB of memory. Users reported experiencing stuttering and frame rate drops when the card exceeded this threshold. Nvidia addressed the issue by offering refunds and acknowledging the misleading specifications.

Cryptocurrency Mining

The GTX 970 also found use in cryptocurrency mining. Its performance characteristics made it suitable for mining various cryptocurrencies. Its mining hashrate varied depending on the algorithm used.

For Ethereum mining, the GTX 970 achieved a hashrate of approximately 15 MH/s. For Zcash mining, it reached around 315 Sol/s. It was also used for mining other cryptocurrencies such as NeoScrypt, Lyra2REv2, and Decred. Its efficiency and availability made it a popular choice for miners.

The card’s power consumption of 145 Watts per hour was a key factor. It allowed miners to balance performance and energy costs. As the cryptocurrency market evolved, the GTX 970’s profitability as a mining card changed. Newer, more efficient cards eventually surpassed it.

The First Crypto Boom and the GTX 970’s Adoption

The cryptocurrency market experienced a significant boom in 2017 and 2018. This was largely driven by the rising popularity of Ethereum. As Ethereum’s value increased, so did the demand for graphics cards capable of mining it. The GTX 970, with its respectable performance and relatively low cost, emerged as a viable option for miners.

The GTX 970 was particularly well-suited for mining certain cryptocurrencies. These include Ethereum, Zcash, and coins using the Lyra2REv2 algorithm like Verge and Vertcoin. It could achieve an Ethereum mining hash rate of approximately 15 MH/s (megahashes per second). This was a competitive figure for a card in its price range. This led to a surge in demand for used GTX 970s as miners sought to build or expand their mining operations.

Many gamers took advantage of this opportunity, selling their used GTX 970s to miners at a profit. This created a temporary shortage of the card in the gaming market. Prices on the used market rose significantly. While gamers could make some money selling their cards, it also meant that those looking to upgrade or build new gaming PCs faced higher costs.

The Ethereum DAG Limit and the Shift in Mining Landscape

As Ethereum’s blockchain evolved, the size of its DAG (Directed Acyclic Graph) file increased. The DAG is a dataset that mining hardware needs to access quickly to perform calculations. As the DAG grows, it requires more video memory (VRAM) to store it.

In 2020, the Ethereum DAG file size exceeded 4 GB. This was a critical turning point for the GTX 970, which had 4 GB of VRAM. Due to a memory architecture issue where the last 512MB of its 4GB VRAM module performed slower than the rest of the memory, it effectively performed as a 3. 5GB card. As a result, the GTX 970 could no longer reliably mine Ethereum. This rendered it obsolete for the most profitable cryptocurrency at the time.

Miners began to shift their focus to other cryptocurrencies. These included Ethereum Classic (ETC), Zcash (ZEC), and coins using the Lyra2REv2 algorithm. These coins had smaller DAG sizes or different mining algorithms that the GTX 970 could still handle. However, the GTX 970’s dominance in the mining market was waning. Newer cards with more VRAM and better efficiency, such as the GTX 1060 6GB and the AMD RX 570/580 8GB, became the preferred choices for miners.

The Second Crypto Boom and the GTX 970’s Minor Resurgence

The cryptocurrency market experienced another boom in 2020 and 2021. This led to a minor resurgence in demand for the GTX 970. Budget miners, looking for the cheapest possible entry point into the market, picked up used GTX 970s for prices ranging from $70 to $90.

These miners focused on mining alternative coins like Ethereum Classic, Zcash, or RavenCoin (using the KawPow algorithm). However, the GTX 970’s limitations were becoming increasingly apparent. Its power inefficiency and low resale value made it a less attractive option compared to newer cards. With Ethereum mining off the table due to the 4GB VRAM limit, the GTX 970 was relegated to the lower tiers of the mining market.

The Ethereum Merge and the Decline of the GTX 970 in Mining

A major shift occurred in the Ethereum ecosystem in 2022. Ethereum transitioned from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) mechanism. This event, known as the “Ethereum Merge,” eliminated the need for mining on the Ethereum network. This had a significant impact on the cryptocurrency mining landscape.

With Ethereum no longer mineable, miners turned to other PoW coins like Ethereum Classic, Flux, and Ravencoin. However, the GTX 970 was not particularly efficient at mining these coins. Its hashrates and power draw made it unprofitable in most locations, especially with rising electricity costs.

The GTX 970 Today: A Niche for Hobbyists and Experimentation

In the post-Ethereum Merge era, the GTX 970’s role in cryptocurrency mining has diminished significantly. Its inefficiency and limited VRAM make it unsuitable for serious mining operations. However, it still has some value for specific use cases.

The GTX 970 can be a useful tool for learning, experimentation, or hobby mining. Its low cost makes it an accessible entry point for individuals interested in exploring cryptocurrency mining without investing heavily in expensive hardware. It can still mine certain algorithms like Equihash (used by Zcash), Lyra2REv2, and Ethereum Classic (for now, as ETC may eventually undergo changes that render the 970 obsolete).

Conclusion: The Legacy of the GTX 970

The Nvidia GeForce GTX 970 had a significant impact on both the gaming and cryptocurrency mining worlds. It was a popular choice for gamers due to its performance and affordability. It also found a niche in the crypto mining market during the early days of Ethereum.

However, technological advancements and changes in the cryptocurrency landscape have diminished its relevance in mining. Its limited VRAM and power inefficiency make it a less attractive option compared to newer cards. Today, the GTX 970 is primarily used for learning, experimentation, or hobby mining. Its low cost and availability make it a useful tool for those interested in exploring the world of cryptocurrency without significant investment.

The GTX 970’s journey highlights the dynamic nature of the technology industry. What was once a cutting-edge and popular product can quickly become obsolete as new innovations emerge. Despite its decline in mining, the GTX 970 remains a significant piece of hardware in the history of gaming and cryptocurrency. Its story serves as a reminder of the rapid pace of technological change and the importance of adapting to new trends and developments.

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Summary of the Nvidia GeForce GTX 970 Specifications:

CUDA Cores : 1664
Base Clock : 1050 MHz
Boost Clock : 1178 MHz
Texture Fill Rate : 109 GigaTexels/sec
Memory Interface : GDDR5
Memory Interface Width : 256-bit
Memory Bandwidth : 224 GB/sec
Memory Clock : 7.0 Gbps
Standard Memory Config : 4 GB

Nvidia GeForce GTX 970 Hashrate

Summary of the Nvidia GeForce GTX 970 Mining Hashrate:

Ethereum Mining Hashrate : 15 MH/s
Zcash Mining Hashrate : 315 Sol/s
NeoScrypt [ (ORB) & (PXC) & (FTC) & (INN) & (GBX) & (TZC) & (VIVO) & (CRC) ] Mining Hashrate : 0.68 MH/s
Lyra2REv2 [ (XVG) & (VTC) & (MONA) ] Mining Hashrate : 23.55 MH/s
DaggerHashimoto [ EtHash : (ETH) & (ETC) ] Mining Hashrate : 22.21 MH/s
Decred (DCR) Mining Hashrate : 1.51 GH/s
Cryptonight [ (XMR) & (XDN) ] Mining Hashrate : 0.48 kH/s
Lbry ( LBC ) Mining Hashrate : 0.16 GH/s
Equihash [ (ZEC – ZEN – ZCL) & (BTG) & (KMD) & (HUSH) ] Mining Hashrate : 291.61 Sol/s
Pascal [ (PASC) & (PASL) ] Mining Hashrate : 0.57 GH/s
X11GOST [ Sibcoin (SIB) ] Mining Hashrate : 7.7 MH/s