NVIDIA unveils the GeForce RTX 3060, a processor chip dedicated to Ethereum mining

Tech and Gaming Giant NVIDIA unveiled the GeForce RTX 3060, a processor chip dedicated to Ethereum mining. Also known as the Cryptocurrency Mining Processor (CMP), the product is geared towards miners that would use traditional GPUs to mine ETH and other cryptocurrencies. The product will officially launch on February 25th.

In a blog post, NVIDIA describes CMP as a new processor dedicated to mining as opposed to GeForce which is made for gaming. “We’re limiting the hash rate of GeForce RTX 3060 GPUs so they’re less desirable to miners and launching NVIDIA CMP for professional mining,” NVIDIA wrote.

According to NVIDIA, the RTX 3060 software drivers are designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm, and limit the hash rate, or cryptocurrency mining efficiency, by around 50 percent.

The new GeForce RTX GPUs introduce new cutting-edge technologies such as RTX real-time ray-tracing, DLSS AI-accelerated image upscaling technology, Reflex super-fast response rendering for the best system latency, and many more — tailored to meet the needs of gamers and those who create digital experiences.

To address the specific needs of Ethereum mining, we’re announcing the NVIDIA CMP, or, Cryptocurrency Mining Processor, product line for professional mining. CMP products, which don’t do graphics, are optimized for the best mining performance and efficiency. They don’t meet the specifications required of a GeForce GPU and, thus, don’t impact the availability of GeForce GPUs to gamers.

For example, NVIDIA describes CMP as lacking display outputs but enabling improved airflow while mining so they can be more densely packed. CMPs also have a lower peak core voltage and frequency, which improves mining power efficiency.

“Creating tailored products for customers with specific needs delivers the best value for customers. With CMP, we can help miners build the most efficient data centers while preserving GeForce RTX GPUs for gamers,” NVIDIA added.

Kristy-Leigh Minehan is  CTO of NEM Software and a well-known figure in the Ethereum space, who is regarded as one of the world’s leading authorities on cryptocurrency mining. In light of this major development in the gaming and mining spheres, below is what Kristy-Leigh Minehan said about the launch:

“The launch of GeForce RTX 3060 on February 25th is likely to cause mixed feelings among miners and gamers alike. A lot of individual Ethereum supporters got into mining through gaming, and a lot of gamers utilize their cards for securing the Ethereum network while idle. That decentralized distribution of participants is – and remains – part of the appeal of the Ethereum network.
This restriction is setting a precedent for miners to do their part in the world and #sharethesilicon in times where distribution is scarce, but it’s only a step in the right direction for customers if this CMP line is sufficiently distributed and just as accessible for the average joe as GeForce.

Otherwise? Innovation will take place in breaking this restriction – and patching NVIDIA’s drivers as a result. Hacked drivers and firmware will run rampant online – an entry point for malware to prey on unsuspecting users. Sure, the cards themselves have protection in place, but nothing is ever ‘unhackable’. Even more curious is that this restriction seems to be specific to Ethereum, almost pushing GPU’s into the hands of other PoW networks.

Either way, this is a bullish take for Ethereum in general – NVIDIA has a dedicated product line now for blockchain technology. Let’s wait to see if AMD and Intel follow suit.”