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it’s not the fault of mining

Again Colette kress on stage (NVIDIA CFO), who yesterday participated in a conference call with certain investor agents virtually from Orlando, Florida. The conference was not too special except for the round of questions and answers after all the economic data pointed out, where Kress revealed the image that the company has of everything that is happening since the release of its graphs to the market.

NVIDIA Calls Launch of All Ampere Models “Great Success”

Before we get into the debate, let’s start with Kress’s statements to understand the context:

We launched our Ampere-based 3000 series gaming GPUs early last year and it has been a huge success, probably the most successful gaming launch we’ve ever had. With a second-gen RTX, we now also have a roster of more than three dozen games for general ray tracing and a solid performance upgrade with our 30 series, the demand has been staggering.

We started the launch of that product with several of our high-end cards. Our 3070, 3080 and 3090 have been on the market for several months. During this period of time, they are demonstrating the capabilities of the 3000 series and the Ampere architecture, not only for our true gamers, but also to support the creators and broadcasters who use this. So we look forward to seeing the 30 series continue to release new products as we move forward.

Our last product we launched was the RTX 3060. The class of the 60 range is an ideal place for gamers, great performance at a great price. Class 60 is essentially preferred by our iCafes that you will find in the Asia Pacific area, as well as many of our system builders as they build custom general systems. The RTX 3060 had its launch last week and sold out within hours. It has been carefully designed for gamers and they were excited about it.

We now have a GPU with Ampere architecture from $ 329 and up. So we have a lot of differentiation in price points to support any type of player depending on how they want to enter the market for what they pay. All of these are well below the cost of a new console.

Kress seems to ignore that practically the bulk of its market has gone to mining farms and not to players, making it clear that gamers have a range of options and stock available when only the former is true. Just go to any store intending to buy an RTX 3000 to see it.

Mining is not the problem, the stock of GPUs would be the same without it

RTX 3000 out of stock

Kress’s statements continue with a sentence and paragraph that more than one user tired of looking for GPUs at competitive prices will feel quite bad:

Our gaming quarter, for example, would probably have been the same with or without crypto because we have a limited supply. So we will continue to see this. We believe that our product CMP It will allow us better visibility to understand the size of cryptocurrencies within our quarter.

[…] This is, of course, a situation that we would love to have more optionality. We would love to have more general supply. But remember, our problem is that demand is strong. The demand is strong and we believe that we will grow quite well, as this demand will continue during this year in front of us.

That is, with or without cryptocurrencies, with or without mining, they would have sold everything and we would be out of stock. Or what is the same, they care very little where their GPUs fall, but at the same time they pride themselves on terms such as gaming or players, or with slogans such as “RTX is made for gaming.”

But in the end, the stock of GPUs ends up in the hands of the miners and nobody raises their voice and there is no self-criticism, because there is no way to control where their graphics cards go. Therefore, the players do not care much when the stock does not reach them, but others who give the cards a totally different use.

What is clear is that what matters is to sell everything, that demand is strong and that chip that comes out of Samsung chip sold. They are a company and that point of view is respectable, but the way to approach the whole problem is to want to take their main profit market for idiots: gaming. We’ll see if their CMP GPUs are well received by miners and leave room for the RTX 3000 to hit the shelves.