NVIDIA Halving Ethereum Hash Rate Of Three New GPUs

Sahaj  |  May 19, 2021

NVIDIA has recently made an announcement regarding the halving of the Ethereum hash rate of the new RTX 3080, 3070, and 3060 Ti graphics cards. The company is doing so in order to make the cards less appealing to the cryptocurrency miners, and along with this, it will be labeling three new GPUs as Lite Hash Rate.

NVIDIA to Halve the Ethereum Hash Rate of RTX 3080, 3070, and 3060

In a May 18th announcement, the Head of global GeForce marketing at the company, Matt Wuebbling revealed that NVIDIA has capped the extracting capabilities of RTX 3080, 3070, and 3060 Ti.

By reducing the hash power of the graphics card, the company wants to ensure that they will end up in the hands of gamers instead of Ethereum miners. 

In addition to this, Matt claimed that only the newly produced graphic cards are going to be affected by this restriction and said:

“This reduced hash rate only applies to newly manufactured cards with the LHR identifier and not to cards already purchased.”

Well, this qualification addresses the major questions about the anti-mining efforts of NVIDIA: how is it going to avoid the class-action lawsuits if it retroactively limits the hash rate of the existing GPUs? 

Hence, the introduction of new, clearly labeled variants that ship with a declined hash rate was most likely meant to sidestep that issue completely.

GPU Shortages Amid High Profitability

Most recently, a huge surge in the price of Ether was witnessed which ultimately raised concerns about another wave of shortages in the supply of GPUs. 

In addition to this, another thing that can not be ignored is the Ethereum miners surpassing the Bitcoin miners in terms of profitability on May 12.

NVIDIA, however, is now desiring to miss out on the brand new trend of Ethereum provided that it introduced its own cryptocurrency mining processor in the month of February while nerfing GeForce RTX 3060 simultaneously.

Related News