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Hi there! If i upgrade my iMac from i3 processor to the i7 one (870 socket 1156) i read somewhere thay this could hurt my powersupply or graphics card, is that the case? Or can i just go ahead? Thanks!

As long as your iMac has the 305W PSU, it should work. It’s the same board between the i3 and i7 models so there should not be an EFI limitation.