Nvidia specially designed a processor for Ethereum mining, called NVIDIA CMP

Nvidia is all set to roll-out GeForce RTX 3060. This is designed primarily for delivering the best user experience for gaming and professional work, but the GPU can also be used for other power-intense tasks including gene sequencing, weather simulations, and cryptocurrency mining.
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American technology major Nvidia is all set to roll-out GeForce RTX 3060, the company’s latest and most powerful Graphics Processing Unit later this month.

This is designed primarily for delivering the best user experience for gaming and professional work, but the GPU can also be used for other power-intense tasks including gene sequencing, weather simulations, and cryptocurrency mining.

With Bitcoin, Etherium, and other digital currency gaining a lot of value, there is an increased interest among tech enthusiasts to mine cryptocurrency and this has led to a lot of 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 the pro-gamers. It is worrying that cryptocurrency miners may create a shortage of computer peripherals.

“We designed GeForce GPUs for gamers, and gamers are clamoring for more. Yet NVIDIA GPUs are programmable. And users are constantly discovering new applications for them, from weather simulation and gene sequencing to deep learning and robotics

Mining cryptocurrency is one of them. With the launch of GeForce RTX 3060 on February 25, we’re taking an important step to help ensure GeForce GPUs end up in the hands of gamers,” said Matt Wuebbling, VP of Global GeForce Marketing, Nvidia.

What is cryptocurrency mining?

In simple terms, cryptocurrency mining is a transactional procedure that involves the use of computers and cryptographic algorithm to solve complex operations and record data in a blockchain (a decentralized distributed ledger). For the work, a developer is rewarded with a bitcoin or any other cryptocurrency.

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