Nvidia unveils chip for cryptocurrency mining

[Hanno Labuschagne]

Nvidia unveils chip for cryptocurrency mining

Nvidia has launched a new processor designed specifically for mining cryptocurrency.

This is in response to the company’s gaming GPUs becoming extremely popular among cryptocurrency miners for their hash rates.

Nvidia said it wants to ensure its graphics cards end up in the hands of gamers, and to this end, it has launched a dedicated mining chip – the Nvidia CMP – for miners of Ethereum and other digital currencies.

 

[Swa]

This all over again? Graphics cards without HDMI ports and a higher price tag.

This. Too little too late as the mining craze is over anyway. And it's about the memory and not the chip.

 

[S.Claus]

This. Too little too late as the mining craze is over anyway. And it's about the memory and not the chip.

That’s not the main issue. The main issue is going up against Chinese mining farms that benefit from free electricity and cheap GPUs

 

[Temujin]

This all over again? Graphics cards without HDMI ports and a higher price tag.

It wouldn't surprise me if the farms order thousands only to discover its just rebranded left over stock with a firmware upgrade from 2017

 

[Swa]

That’s not the main issue. The main issue is going up against Chinese mining farms that benefit from free electricity and cheap GPUs

How does that stack up? When Ethereum launched it made sense as GPU mining was dead. Now cost will always match return with the amount of GPU mined coins out there. So even with free electricity it takes months to break even.

They'd need to have some serious processing power at an affordable price but the question seems mute with it being mostly reliant on memory and not the GPU.

 

[HavocXphere]

So even with free electricity it takes months to break even.

Doesn't matter. Break even within months is a great investment compared to other options

Mostly ASICs running in China AFAIK.

Nope. Where do you think all the 30x0 cards went that Nvidia produced yet consumers can't get hold of

It wouldn't surprise me if the farms order thousands only to discover its just rebranded left over stock with a firmware upgrade from 2017

More likely version that this is this is yet another binning play. Which in this case is not necessarily a bad thing for the consumer.

 

[Happy Days]

Is cryptocurrency mining still viable nowadays?

 

[Swa]

Is cryptocurrency mining still viable nowadays?

If you have free electricity yes.
If you have the hardware yes.
If you have neither the hardware nor free electricity no.

 

[HavocXphere]

Is cryptocurrency mining still viable nowadays?

In winter yes though only in the abstract sense. i.e. if you're gonna be heating anyway might as well use your PC

You guys may laugh...I'm crushing it tho. I was gonna electric heat anyway so this is equivalent to free elec. And that changes the math dramatically.

Basically ~3 dollars a day that I wouldn't have gotten if I just turned on the heater. 3 usd a day is enough to offset my energy bill so that's a win regardless

 

[km2]

Is cryptocurrency mining still viable nowadays?

Yes, if you have the hardware. With Nicehash on a 3080 it's R150 revenue on R22 in electricity per day. That's about half a year to pay back the cost of the GPU which is a nice bonus if you're planning to use it for gaming anyway. That of course all depends on Ethereum prices holding, and the party will probably end in the middle of the year when they make changes to the way Ethereum works.