US tech major Nvidia is all set to roll out GeForce RTX 3060, the company’s latest and most powerful graphics processing unit, later this month.
Primarily designed to deliver the best user experience for gaming and professional work, the GPU can also be used for other power-intensive tasks, including gene sequencing, weather simulations, and cryptocurrency mining.
With Bitcoin, Etherium and other digital currencies gaining significant value, there is an increasing interest among tech enthusiasts to mine cryptocurrency and this has led to high demand for powerful graphics cards.
Apparently Nvidia is struggling to meet the demand for its GPUs in the market and expects the new GeForce RTX 3060 series may not reach pro gamers. It is worrying that cryptocurrency miners can create computer peripheral shortages.
“We designed GeForce GPUs for gamers, and gamers are crying out for more. NVIDIA GPUs are programmable, however. And users are constantly discovering new uses for them, from weather simulation and gene sequencing to deep learning and robotics. Cryptocurrency mining is one of them. The launch of GeForce RTX 3060 on Feb. 25 is an important step in ensuring that GeForce GPUs end up in the hands of gamers, ”said Matt Wuebbling, VP Global GeForce Marketing at Nvidia.
In the coming days, Nvidia will release RTX 3060 software drivers. It is designed to detect specific features of the Ethereum cryptocurrency mining algorithm and limit the hash rate or cryptocurrency mining efficiency to 50% on the PCs.
On the other hand, Nvidia is bringing a new line of processors specially designed for professional Ethereum mining called NVIDIA CMP (Cryptocurrency Mining Processor).
The company says the CMP products cannot handle graphics, but offer the best mining performance and efficiency.
Must read | Bitcoin Breaks $ 56k, Ether Up 12%
What is Cryptocurrency Mining?
Simply put, cryptocurrency mining is a transactional procedure that uses computers and cryptographic algorithm to solve complex operations and record data in a blockchain (a decentralized distributed ledger). A developer is rewarded with a bitcoin or another cryptocurrency for the work.
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