Nvidia Creates Processor For DIY Ethereum Mining As Price Crosses $2k

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Last Updated on 23 March 2021 by CryptoTips.eu

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Tech giant Nvidia can’t seem to escape worldwide media. The company recently announced it wanted to purchase competitor ARM (held by the Japanese conglomerate Softbank) for a whopping $40 billion dollars. Many Silicon Valley companies, such as Qualcomm, Google and Apple, oppose the move and asked worldwide regulators to intervene.

Meanwhile Nvidia has opened another market as both gamers and crypto enthusiasts are battling it out to get their hands on the company’s latest chipsets.

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Ethereum mining

Now that the price of Ether crossed $2k and the mining of the second largest cryptocoin can be done on a home computer, Nvidia saw the demand for it’s most popular gaming chip skyrocket, up to such a point where gamers couldn’t get their hands on the RTX 3060 graphic cards anymore.

Even though Ethereum will slowly migrate to staking with the implementation of Ethereum 2.0, mining will be relevant until that time.

Nvidia, seeing the turmoil in the market and not wanting to lose the gamers as fans of their product, made a controversial move and limited the speed of the processor to 50% if it was used for Ether mining.

CMP

However, in order to tap this new market of amateur crypto miners who want to do some home-mining of Ethereum now that it’s at an interesting price, the company will soon release a new processor, focused especially on Ether.

Matt Wuebbling, head of global GeForce marketing, declared:

Creating tailored products for customers with specific needs delivers the best value for customers.

With CMP, we can help miners build the most efficient data centers while preserving GeForce RTX GPUs for gamers.

Cryptocurrency Mining Processor (CMP) series will focus on Ether mining, used to make the Ethereum cryptocurrency possible, and is set to release in March 2021.

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