TL;DR Breakdown
- Nvidia set to unveil new mining processor in March.
- Graphic chipmaker hoping to take advantage of the bullish market.
The year 2017 proved to be an excellent one in terms of demand for Nvidia’s Ethereum mining products. This year, the chipmaker is planning to go bigger and better.
Nvidia is a household name when it comes to Bitcoin and Ethereum mining. The graphics chipmaker has provided its users with quality graphic chips since its inception. However, there will be a rebranding this year. On Thursday, according to reports from Verge, the platform disclosed that it would release a new type of graphic chips designed specifically for Ethereum mining.
The new graphics chips possessing a new series of semiconductors is an upgrade to its previous models, which brought huge profits from sales to interested BTC and ETH miners in 2017.
Nvidia sets to launch new Ethereum mining processor
The platform is known for designing chips meant for gaming, system, mobile computing, and marketing, a perfect suit for crypto miners. They need huge amounts of resources to mine Bitcoin and Ethereum.
The California-based company was surprised by the considerable demand for chips in 2017 as the crypto market was developing. But then, the prices quoted for its chips were outrageous, and regular PC users, gamers, and marketers couldn’t afford them. This high cost led to many criticisms of the company’s project.
However, this year’s creation is very different from the previous graphic chips with the present high cost of cryptocurrencies. Nvidia is hoping to profit from the bullish trend in the crypto market by creating a “Cryptocurrency mining processor” for Ethereum mining. According to a diplomat, the new chip will be launched in March, and it will be the first new crypto mining chip by Nvidia.
Nvidia will never forget the year 2017, according to CEO Jensen Huang. The company was prepared to distribute its products and become a renowned name in the crypto market, but the previous years proved futile. This year, the company is set to take the crypto market by storm with its new CMP chip to enhance Ethereum mining.
