US chief technology officer Nvidia is ready to expand the company’s GeForce RTX 3060, the latest and most powerful graphics processing unit later this month.
It is primarily designed to deliver the best user experience for gaming and professional work, but the GPU can also be used for other power-intensive tasks, including no-order, weather simulations, and cryptocurrency mining.
With Bitcoin, Etherium and other digital currencies gaining a lot of value, there is a growing interest among technology enthusiasts to exploit cryptocurrency, and this has led to a huge demand for powerful graphics cards.
Apparently, Nvidia is struggling to meet the demand for its GPUs in the market and expects that the new GeForce RTX 3060 series will not reach the pro gamers. It is worrying that miners in cryptocurrency could create a shortage of peripherals.
“We have designed GeForce GPUs for gamers, and gamers love more. Yet NVIDIA GPUs are programmable. And users are constantly discovering new applications for them, from weather simulation and gene sequence to deep learning and robotics. Mining cryptocurrency is one of them. With the launch of GeForce RTX 3060 on February 25, we are taking an important step in ensuring that GeForce GPUs end up in the hands of gamers, “said Matt Wuebbling, VP of Global GeForce Marketing, Nvidia.
In the coming days, Nvidia will release RTX 3060 software drivers. It is designed to detect specific features of the Ethereum cryptocurrency mining algorithm, and to limit the hash rate or mining efficiency of cryptocurrency by up to 50% on the computers.
On the bright side, Nvidia brings a new range of processors specifically designed for professional Ethereum mining, called NVIDIA CMP (Cryptocurrency Mining Processor).
The company says that the CMP products can not process graphics, but that it offers the best mining performance and efficiency.
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What is cryptocurrency mining?
In simple terms, cryptocurrency mining is a transactional procedure that involves the use of computers and cryptographic algorithms to solve complex operations and record data in a blockchain (a decentralized distributed ledger). For the job, a developer is rewarded with a bitcoin or any other crypto-currency.
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