Nvidia launches new chip for cryptocurrency miners

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.

“With the launch of GeForce RTX 3060 on 25 February, we’re taking an important step to help ensure GeForce GPUs end up in the hands of gamers,” Nvidia said.

“RTX 3060 software drivers are designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50%.”

In conjunction with the neutering of its RTX graphics cards’ mining capabilities, the company has also launched the Nvidia CMP (Cryptocurrency Mining Processor).

CMP built for miners

Nvidia said the CMP will address the specific needs of Ethereum mining, ensuring its gaming graphics cards aren’t all bought up by crypto miners before gamers can get their hands on them.

CMP products are sold through authorised partners and optimised for the best mining performance and efficiency.

Nvidia said they do not meet the specifications required of a GeForce GPU and do not impact the availability of GeForce GPUs to gamers.

“For instance, CMP lacks display outputs, enabling improved airflow while mining so they can be more densely packed,” Nvidia said.

“CMPs also have a lower peak core voltage and frequency, which improves mining power efficiency.”

There is currently no specific release date or recommended retail pricing for the Nvidia CMP.

Now read: Big tech companies complain about Nvidia’s acquisition of Arm

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Nvidia launches new chip for cryptocurrency miners