We take our noise measurements with the sound meter positioned 1 foot from the graphics card. I measured the noise floor to be 32 dBA, thus anything above this level can be attributed to the graphics cards. The power supply is passive for the entire power output range we tested all graphics cards in, while all CPU and system fans were disabled. A reading under load comes from running the 3DMark Time Spy stress test for 30 minutes.
Noise levels is an interesting area to look at. There's no doubt about it, the Quiet BIOS is impressively quiet, recording just 38dBa while the fans spun at 900rpm (37%.) The Performance mode is significantly louder however, as the fans spin up to 1290rpm, or 53%. Toxic Boost takes that a step further and pushes fan speed to 1410rpm (58%), producing 46dBa.
The latter two modes are certainly quite audible, and I would say Toxic Boost does make the fans overall reasonably loud. Let's see what happens when we noise-normalise…