To try to get its GeForce RTX 30 graphics cards to be purchased mainly by gamers, Nvidia announced the CMP range exclusively for cryptocurrency mining.
These chips have not yet been officially released. But Hut 8 Mining Corp., one of the largest cryptocurrency mining companies, has already spent $ 30 million on Nvidia CMP units.
The market is experiencing a crisis in the stock of graphics cards and the most affected models are the new GeForce RTX 30 line. It is almost impossible to find them available, much less for the price of their launch.
One of the main reasons for this stock shortage is the massive purchase of these chips for cryptocurrency mining. In this sense, to try to overcome this scourge, Nvidia announced then the CMP (Cryptocurrency Mining Processor) line for professional cryptocurrency mining.
These chips are expected to hit the market soon, but there are already those who anticipate booking their order.
Company Hut 8 Mining Corp. buys $ 30 million in Nvidia CMP cards
A Hut 8 Mining calls itself the oldest and most innovative Bitcoin mining company in the Western Hemisphere. The company announced now that it has already invested 30 million dollars (~ 25 million euros) in the purchase of Nvidia's CMP cards, intended exclusively for the extraction of cryptocurrencies.
Palit CMP 30HX is the first mining chip to hit the market for 603 euros
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The models purchased were not disclosed, but the order should only arrive in mid-May. However, the company reveals that this acquisition could result in an increase of 1,600 GH / s in the mining performance of currencies such as Ethereum, among others.
According to Jaime Leverton, CEO of Hut 8 Mining:
The adoption and development of applications that interact with various blockchain networks has never been stronger, and opens up many possibilities in a wide variety of sectors. We are extremely excited to have these high-performance Nvidia CMPs in our company.
We believe that mining with CMP will open new opportunities for Hut 8 and will allow us to continue to carry out our long and short term plans to increase and diversify revenue variations.
In turn, Nvidia estimates that Nvidia CMP cards will bring you approximately $ 50 million (~ 43 million euros) in revenue. The objective is to sell these products to industrial and professional miners. And with this purchase alone, the manufacturer already achieves almost 60% of its profit expectations.
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