Nvidia will limit how efficiently it can process ethereum transactions by about 50%, according to the company’s press release.  The move will make it less economical for miners to use the company’s forthcoming GeForce RTX 3060 card for mining the cryptocurrency. 

  • Nvidia has focused on ethereum since it “has the highest global mining yield for any GPU-mineable coin at the moment and thus is likely the main demand driver for GPUs in mining.”
  • Nvidia has also decided to sell a range of crypto-currency mining processors.
  • The company does not expect the production of its crypto-currency mining processors to impact the availability of graphics cards.
  • Nvidia says crypto-currency mining processors did not meet the “specifications required” of its graphics cards and would also use less energy.
  • Cryptocurrency mining has attracted criticism due to the energy consumed, with David Gerard, author of Attack of the 50 Foot Blockchain, calling bitcoin “anti-efficient.”

Nvidia stock is currently gaining. NVDA: NASDAQ is up 2.15%