What happened: NVIDIA Corporation (NASDAQ: NVDA) has announced the creation of a new product offering – the NVIDIA CMP, which in February was intended exclusively for cryptocurrency mining.
In order to separate its product offering between gamers and miners, NVIDIA has limited the hash rate of its GeForce RTX 3060 mining chip, which has become increasingly popular with cryptocurrency miners.
“We limit the hash rate of GeForce RTX 3060 GPUs, so it’s less desirable for miners and introduces NVIDIA CMP for professional mining,” NVIDIA said in a blog post last month.
However, they seem to have been short-lived plans as Ethereum (CRYPTO: ETH) miners in China have found a way to circumvent this limited hash rate using a custom mod.
Dammit Chinese mod pic.twitter.com/dBNjpJQLMl
– I_Leak_VN (@I_Leak_VN) 10 March 2021
Screenshots posted by a Twitter account documenting technological leaks depicted a stack of eight RTX 3060 graphics cards operating well above NVIDIA’s 20-25 MH / s set limit.
A group of Vietnamese miners on Facebook also confirmed that the GPU has the ability to accelerate up to 50 MH / s.
Why it matters: NVIDIA has recognized the popularity of cryptocurrency mining and plans to launch Cryptocurrency Mining Processors (CMP) to meet the specific needs of Ethereum mining.
“With CMP, we can help miners build the most efficient data centers while preserving GeForce RTX GPUs for gamers,” the company said.
However, it appears that cryptocurrency miners still used GeForce RTX 3060 as their choice for mining, circumventing NVIDIA’s deliberate limitations in the hash pace.
This seems to be the cheaper choice for miners as it brings GPU performance at the same level as the GeForce RTX 3060 at a lower price and power consumption.
Image: Javier Esteban via Unsplash
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