fbpx
QQQ
+ 0.40
341.21
+ 0.12%
DIA
+ 1.41
339.04
+ 0.41%
SPY
+ 1.40
414.50
+ 0.34%
TLT
-1.09
141.44
-0.78%
GLD
+ 1.00
164.35
+ 0.6%

Ethereum Miners Found A Way To Bypass NVIDIA's Hash Limits

March 10, 2021 3:51 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Ethereum Miners Found A Way To Bypass NVIDIA's Hash Limits

What Happened: NVIDIA Corporation (NASDAQ:NVDA) announced the creation of a new product offering – the NVIDIA CMP, meant exclusively for cryptocurrency mining in February.

In order to separate its product offerings between gamers and miners, NVIDIA limited the hash rate of its GeForce RTX 3060 mining chip that had become increasingly popular for cryptocurrency miners.

“We’re limiting the hash rate of GeForce RTX 3060 GPUs, so they’re less desirable to miners and launching NVIDIA CMP for professional mining,” said NVIDIA in a blog last month.

See also: How to Buy Ethereum (ETH)

However, their plans seem to have been short-lived as Ethereum (CRYPTO: ETH) miners based in China found a way to bypass this limited hash rate using a custom mod.

Screenshots posted by a Twitter account that documents tech leaks depicted a stack of eight RTX 3060 graphics cards operating at far above NVIDIA’s imposed 20-25 MH/s mining limit.

A group of Vietnamese miners on Facebook also confirmed the GPU's ability to accelerate to 50 MH/s.

Why It Matters: Recognizing the popularity of cryptocurrency mining, NVIDIA had planned to launch Cryptocurrency Mining Processors (CMP) to address the specific needs of Ethereum mining.

“With CMP, we can help miners build the most efficient data centers while preserving GeForce RTX GPUs for gamers,” stated the company.

However, it seems that cryptocurrency miners have continued to use GeForce RTX 3060 as their mining chip of choice, bypassing NVIDIA’s deliberate restrictions in hash rate.

This seems to be the more economical choice for miners as it brings GPU performance up to par with the GeForce RTX 3060 at a lower price and power consumption.

Image: Javier Esteban via Unsplash


Related Articles

Traders Of Crypto Report: 70% Of The Decade's Largest Financial Hacks Involve Stolen Bitcoin

The past decade’s most significant financial hacks have been a crypto heist of some kind. read more

Crypto Broker Voyager Digital's AUM Crosses $2.4B After Record-Setting Month

Voyager Digital Ltd (CNSX: VYGR), a crypto-asset trading platform for retail and institutional investors, has witnessed a record-setting month. read more

Opinion: The Doge Days Are Over. You Invested in Dogecoin, Now What?

This column does not necessarily reflect the opinion of the editorial board of Benzinga. Everybody familiar with traditional investing knows that penny stocks are rife with fraud and scams. read more

Could Ripple's (XRP) Latest Legal Win Be 'Game Over' For The SEC Lawsuit?

Ripple, the company linked to the XRP (XRP) token, has secured yet another goal in its legal match with the U.S. Securities and Exchange Commission by getting a right to see how the regular determines which cryptocurrency is a security, CoinDesk reported Tuesday. read more