As happened two years ago, we are facing a new cryptocurrency mining bubble, especially Ethereum. Which has taken the entire graphics card market upside down and the most surprising thing has been NVIDIA’s announcement to launch a range of GPU-based mining cards.
GPUs for mining don’t really exist
NVIDIA announced its CMP HX range as a solution for miners and also sold it as a solution for those who cannot find an RTX 3000 for gaming due to the huge demand from miners. But if we are smart and we speak with knowledge of the facts we will know that a GPU architecture takes several years to develop and the bubbles like the mining one we find ourselves in today cannot be predicted.
What has NVIDIA done? Well, take a series of RTX 3000 and cap them the video output to sell them as graphics cards for mining and be able to capitalize on the huge demand and price increase. And how does this affect those who want an RTX 3000 to play with? Well, in the fact that of each GA102, GA104 or GA106 GPU that is also used to build the NVIDIA CMP HX mining cards.
It must be taken into account that we are facing a crisis in which everyone is having a shortage of chips. This means that NVIDIA is not going to increase the production of the chips for the GeForce Ampere or RTX 3000, but what it will do is derive part of the limited stock of its gaming GPUs to create the cards for mining.
NVIDIA Mining GPU Doesn’t Fix Stock RTX 3000
At the same time, NVIDIA claims that through the driver they have been able to limit the speed of their GeForce RTX 3060 by mining Ethereum, but this solution is through the graphics card driver and not due to a change in the hardware. This does not mean that miners through hacking cannot break such protection and turn GeForce cards into valid cards for mining.
Keep in mind that professional mining farms are run by personnel with advanced knowledge and many of them have experience modifying the BIOS and firmware of graphics cards. So NVIDIA instead of solving the problem of the bubble caused by miners what it has done is to limit the mining capacity of home mining farms at the same time that it has further limited the stock of its RTX 3000.
Hence, cards from the GTX 1000 and RTX 2000 range have been resurrected for the PC gaming market. If NVIDIA really were confident that its solution is good enough, then it would not have released an old graphics card like the GeForce GTX 1050 Ti again.
NVIDIA is capitalizing on the current situation
The reality, and make no mistake, is that NVIDIA being a company has two things in mind. The first is the amount of money you can make from each product, the second is keeping shareholders happy who would see their failure to take advantage of the current bubble as a mistake.
NVIDIA had already been rumored to have sold graphics cards directly to miners, but it was something they had never confirmed. Now they directly claim to sell those graphics cards in order to take advantage of the current demand. If cryptocurrency mining is willing to pay double for a graphics card then NVIDIA cannot miss that opportunity.
It is not something that we support from here, and we know very much the frustration of trying to get an RTX 3000 and not getting it due to the lack of stock or the overpricing to which they are subjected at the moment. What’s more, we believe that NVIDIA is not going to present any revision of the RTX 3000, in the form of the RTX 3000 Ti or Super, and even a relaunch while the mining bubble we are in at the moment lasts.