Nvidia working to Stop its Chips From Being Used For Crypto-Mining

Nvidia is a globally recognized chip manufacturer specialized in GPUs and other important components. The American giant is the leader of Gaming and is well known for its ridiculous hardware. And many professional players also choose it as their first preference.

But in the last months, seeking a high-end Nvidia chip has been more difficult. PC gamers are still looking for new hardware, and it is becoming harder to purchase new components. If the global semiconductor scarcity partly causes the vacuum, crypto-miners are a leading explanation for the sudden but prolonged shortage.

Cryptocurrencies like Bitcoin include mining coins — a simulated method that guarantees that new coins continue to circulate but not too rapidly. There is a complicated math algorithm calculated, and a coin is mined at the end. Each cryptocurrency has its own mining operation, but one thing they share – high-end chips that can calculate so quickly as possible.

Miners have hedged all the chips they can supply, and legal customers have been left behind. The Ethereum has halved the pace of new graphics cards from the Ethereum RTX 3080, 3070, and 3060 to deprive mining sales. This card starts shipping in May and contains a new tag identifying it as “Hash Rate Lite.” He added that all old cards would continue to run as normal, and only newer chips have a lower hast rate. “The RTX 3060 software pilots are programmed to recognize and restrict the hash or encrypted mining ability, by some 50%, of certain attributes of the Ethereum crypto-monetary mining algorithm,” said Nvidia.

Reducing the hash rate reduces GPU efficiency when attempting to get Ethereum but is almost zero in consequence. Nvidia said the switch is intentional, which would reduce the ability of cards to calculate transactions on the Ethereum network for validation. The stock of Nvidia is now becoming more and more linked to huge changes in crypto-monetary markets. As the company said earlier, its goal is to ensure that its game cards are “in players’ possession.”

Nvidia’s mining equipment is a special series known as the cryptocurrency mining processor (CMP). Five cards — 30HX, 40HX, 50HX, and 90HX have so far been unveiled. Nvidia said miners should opt for these cards and should not congest the RTX gaming line-up.

The scarcity is so high that many suppliers in the US and Europe have to sell these GPUs with a lottery or random token scheme. The grey market has dramatically gained momentum, and cards are sold for up to 100 percent premium. The mining process is also the main reason that Tesla went away from Bitcoin Payments. The mining method typically needs a lot of energy from fossil fuels – ultimately, to derive a green tesla.