Sapphire announces the 16 gb rx 570 graphics card for mining

Sapphire has made its first major announcement in 2019, the RX 570 with 16GB, revealing a graphics card that could be dismissed as insane without the proper context.

Sappphire tries to take advantage of the new Grin coin that requires large amounts of memory

The mining fever has subsided, and the price of Bitcoin has plummeted as mining facilities around the world are no longer profitable. The easy money from the mining boom is gone, a factor that has made graphics hardware once again available at reasonable prices. So why has Sapphire created a new graphics card for mining like the 16GB RX 570? We have the most obvious answer.

Sapphire's 16GB RX 570 boasts of being "a third of the price of competing 16GB cards." Sapphire's strategy would be to take advantage of the new Grin virtual currency, an implementation of MimbleWimble that benefits from the use of GPUs with obscene amounts of memory.

Grin is a new cryptocurrency that promises to pick up the Bitcoin token

Grin is available in two formats, being treatable in the ASIC Resistant Cuckaroo algorithm as well as in the ASIC Friendly Cuckatoo algorithm. The profitability of each algorithm will change over time, with early rewards favoring the ASIC-resistant form as the cryptocurrency is launched. The Sapphire 16GB RX 570 is capable of extracting both forms at once, easily switching between the two where their difficulty and cost effectiveness vary.

With the launch of this RX 570 model, Sapphire is betting heavily on Grin, although we hope that this is not the beginning of another mining wave that will drag graphics card prices up.

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