What happened: NVIDIA Corporation (NASDAQ: NVDA) announced the creation of a new product offering – the NVIDIA CMP, intended exclusively for cryptocurrency mining in February.
To separate its product offerings between players and miners, NVIDIA limited the hash rate on its GeForce RTX 3060 mining chip, which has become increasingly popular for cryptocurrency miners.
“We are limiting the hash rate of GeForce RTX 3060 GPUs to make them less desirable for miners and launching the NVIDIA CMP for professional mining,” said NVIDIA in a blog last month.
However, his plans seem to have been short-lived, as China-based Ethereum (CRYPTO: ETH) miners have found a way to get around this limited hash rate using a custom mod.
Damn Chinese mod pic.twitter.com/dBNjpJQLMl
– I_Leak_VN (@I_Leak_VN) March 10, 2021
Screenshots posted by a Twitter account that document technology leaks show a stack of eight RTX 3060 graphics cards operating well above the NVIDIA mining limit of 20-25 MH / s.
A group of Vietnamese miners on Facebook also confirmed the GPU’s ability to accelerate to 50 MH / s.
Why does it matter: Recognizing the popularity of cryptocurrency mining, NVIDIA planned to launch cryptocurrency mining processors (CMP) to meet the specific needs of Ethereum mining.
“With CMP, we can help mining companies build the most efficient data centers, while preserving GeForce RTX GPUs for players,” said the company.
However, it appears that cryptocurrency miners have continued to use GeForce RTX 3060 as their preferred mining chip, bypassing NVIDIA’s deliberate hash rate restrictions.
This seems to be the most economical choice for miners, as it brings GPU performance to the level of GeForce RTX 3060 at a lower price and energy consumption.
Image: Javier Esteban via Unsplash
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.