![]() ![]() ![]() ![]() Their usefulness in mining ether isn't new, either - in 2017, Nvidia said it made hundreds of millions of dollars per quarter selling chips to cryptocurrency miners. Graphics cards were first developed to enable high-definition computer games but they're increasingly essential for new technologies like artificial intelligence. "RTX 3060 software drivers are designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50 percent," Nvidia's said in a blog post. Cards that have already been sold, like the RTX 3070 or RTX 3080, do not have the same limitations, the Nvidia representative said. Nvidia said that the latest chip in its gaming graphics cards series, the RTX 3060, would be modified when it's released later this year so it won't mine ether effectively. "CMP products - which don't do graphics - are sold through authorized partners and optimized for the best mining performance and efficiency," Matt Wuebbling, head of GeForce marketing at Nvidia wrote in a blog post. Thursday's announcement suggests that at least some of the demand for Nvidia's chips came from cryptocurrency miners, not just gamers. The semiconductor industry is also facing a shortage across the board. Last fall, Nvidia released a new series of graphics cards marketed at PC gamers that have been consistently sold out. Miners often buy several graphics cards and put them in a single machine to maximize their return. Ether hit a record high on Thursday, up over 160% year-to-date to over $1,914.Įther's mining algorithms run best on graphics cards, which is the kind of chip that Nvidia is known for. In exchange, miners get ether, the digital coin that runs on the Ethereum network. Ether mining is a process in which computers solve complicated math programs to help the Ethereum cryptocurrency network run. ![]()
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