Nvidia launches cryptocurrency mining product

Nvidia is launching a new professional cryptocurrency mining processor (CMP) to be available globally next month. 

Nvidia, the world’s biggest graphic computing firm, is weakening cryptocurrency mining efficiency in the new RTX 3060 graphic card to be released next week, making it focus on gaming and design functions. The move will solve a supply shortage for Nvidia’s graphic products, which can also be used in bitcoin and cryptocurrency mining.

Nvidia’s CMP will be available from partners including ASUS, Colorful, EVGA, Gigabyte and MSI. 

It seems perfect timing with the skyrocketing price of bitcoin.

Its market value surpassed Tencent, Tesla and Facebook after its price hit a record high of around US$52,000 on Thursday. The cryptocurrency's price has doubled this year after tripling in 2020.

The new CMP products are optimized for the best mining performance and efficiency, with a lower peak core voltage and frequency. But they don’t meet the specifications required of a gaming graphic card, thus don’t impact the availability of GeForce GPUs to gamers, according to the company.

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

With its latest GeForce RTX 3060 graphic card to be released on February 25, Nvidia has limited the hash rate, or cryptocurrency mining efficiency, by around 50 percent. It said this ensures GeForce GPUs “end up in the hands of gamers.”