Does Nvidia like CryptoMiners?
The huge shortage of graphics cards, and especially Ampere GPUs, will probably go down in history. The chaotic launch of the RTX 30 by Nvidia alone symbolizes all this. However, shortly after this fiasco, Nvidia communicated its annual figures and announced a record figure including GPU sales, possibly due to miners.
Most “lambda” customers then asked themselves a simple question: “how could Nvidia sell so many graphic cards when all over the world, no buyer could get their hands on a single card”.
A large quantity of Nividia RTX cards directly sold to miners?
The “lambda customer” is not the only one to have asked himself this question since some financial analysts, seeing Nvidia results, even better than expected thanks to the gaming part, wanted to understand how one can sell more without having availability, are miners involved?
According to financial analysts at RBC Captial Markets and Barrons, it is likely that NVIDIA has sold at least $175 million worth of GeForce RTX 30 graphics cards directly to major crypto-mining players.
This analysis is also taken up by Bitcoin.com, although it must be admitted that it is not really supported.
Ethereum 2.0 requires a renewal of the miners’ hardware
The network upgrade of the Ethereum blockchain, also known as Ethereum 2.0, is visibly scheduled for December. The rise in the value of Ether and this transition seems to be pushing miners to switch to more efficient mining equipment. Nvidia’s new Ampere GPU chips are supposed to meet this need, several tests have demonstrated this performance during the launch of the new cards.
The fact that NVIDIA is selling directly to large crypto-miners is potentially one of the explanations for the shortage in the consumer market. It also suggests that NVIDIA could have had a better launch offer for its GeForce RTX 30 series.
The RTX 3080 and 3090, despite a sharp rise in power consumption, would be particularly powerful in mining with a significant jump in profitability.
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