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Nvidia May Restart Production of Crypto Mining GPUs if Demand Sufficient
Selling dedicated crypto cards would alleviate pressure on Nvidia's consumer models.
Chip-making giant Nvidia could potentially restart production of dedicated graphics processing units (GPUs) for cryptocurrency miners, according to its executive vice president and chief financial officer, Colette Kress.
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- Speaking at an event on Jan. 12, Kress said if demand in the cryptocurrency market picks up to a "meaningful" level, the company could again start selling the specialized cards called CMPs, according to a SeekingAlpha transcription.
- CMPs are GPUs with the video outputs removed, allowing them to be made and sold more cheaply.
- Currently, Nvidia's RTX 30-Series GPUs are popular with miners, though Kress said, "We don’t believe [mining demand is] a big part of our business today."
- However, "gaming demand is very strong, and we think that’s larger than our current supply," she said.
- With the RTX 30-Series supply to stay tight until at least the end of Q1 2021, relaunching CMPs could alleviate pressure on the consumer product line.
- While bitcoin miners use specialized and more costly processors called ASICs, other cryptocurrencies like Ethereum's ether can be mined with GPUs.
Read more: Nvidia Accused of Trying to Discredit Ex-Employee in Crypto Mining Revenue Trial
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
