NVIDIA announces new chips to mine Ethereum

NVIDIA CMP

And gamers the world over breathe a sigh of relief. NVIDIA has announced that it will release a new series of graphics cards that are specially designed for mining cryptocurrency.

More specifically, Ethereum.

This new semiconductor is called a CMP, or Cryptocurrency Mining Processor.

According to the details provided in the official announcement, this new series of cards are built solely with the intention of mining ether, which is currently the second largest digital cryptocurrency out there in the wild.

Ether mining is a resource-intensive process in which computers are tasked with solving complicated math programs in order to help run the Ethereum cryptocurrency network. In exchange, miners get ether, the digital coin that runs on the network.

While Bitcoin mining is best performed on dedicated ASIC mining rigs, Ether’s mining algorithm runs bet on graphics cards — the kind of chips that NVIDIA is best known for. It is why the company is here with this new solution aimed at miners.

NVIDIA Logo

Matt Wuebbling, head of GeForce marketing:

“CMP products — which don’t do graphics — are sold through authorized partners and optimized for the best mining performance and efficiency.”

With the semiconductor industry facing a shortage across the board, gamers in particular have been severely affected by rising prices of the newest graphics cards and supply issues. Add the demand from cryptocurrency miners into the mix, and you get an idea of just how stressed the situation is.

To that end, NVIDIA has said that its latest chip the RTX 3060 would be modified when it is released later this year so that it does not mine ether effectively.

Software drivers for this particular graphics card will detect specific attributes of the Ethereum cryptocurrency mining algorithm and limit the hash rate by around 50%.


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