Nvidia to release software to block cryptocurrency mining on its GeForce GPUs

Top US tech Nvidia is set to launch GeForce RTX 3060, the company’s latest and most powerful graphics processing unit later this month.

This is primarily designed to provide the best user experience for gaming and professional work, but the GPU can also be used for other power-intensive tasks such as gene sequencing, weather simulations, and cryptocurrency mining.

With Bitcoin, Etherium, and other digital currencies gaining in value, there is a growing interest among tech enthusiasts to mine cryptocurrencies and this has led to a huge demand for powerful graphics cards.

Nvidia is apparently struggling to meet the demand for its GPUs in the market and hopes that the new GeForce RTX 3060 series will not reach professional gamers. It is concerning that cryptocurrency miners could create a shortage of computer peripherals.

“We designed GeForce GPUs for gamers, and gamers are clamoring for more. However, NVIDIA GPUs are programmable. And users are constantly discovering new applications for them, from weather simulation and gene sequencing to deep learning and robotics. Cryptocurrency mining is one of them. With the launch of the GeForce RTX 3060 on February 25, we are taking an important step to help ensure that GeForce GPUs end up in the hands of gamers, “said Matt Wuebbling, vice president of global marketing for GeForce, Nvidia.

In the coming days, Nvidia will release RTX 3060 software drivers. It is designed to detect specific attributes of the Ethereum cryptocurrency mining algorithm and limit the hash rate or cryptocurrency mining efficiency by up to 50% on PCs.

On the bright side, Nvidia is bringing a new line of processors specially designed for professional Ethereum mining, called the NVIDIA CMP (Cryptocurrency Mining Processor).

The company says that CMP products won’t be able to process any graphics, but they offer the best mining performance and efficiency.

Must read | Bitcoin tops $ 56k, ether up 12%

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

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