In mid-May 2021, American multinational technology company Nvidia Corporation revealed that it added a hash rate limiter to prevent the use of cryptocurrency mining with its graphics processing units (GPUs). However, crypto miners now say that the move was futile, and mining organization Nishash pointed out that the hash rate limiter scheme introduced by Nvidia “does not discourage miners at all.”
Nvidia’s hashrate limiter won’t stop crypto miners from using the products
Last year Bitcoin.com News reported on Nvidia’s “light hash rate” (LHR) technology after the graphics card maker attempted to prevent crypto miners from leveraging their GPUs from using digital assets. Was. Nvidia implemented LHR on three specific GPU products, and the company said the motivation was to put its cards back in the hands of gamers. Eight months later, reports state that the LHR technology did little to deter crypto miners from using these specific Nvidia tools.
Cryptocurrency mining platform NiceHash told pcmag.com that LHR technology “does not discourage miners at all.” Furthermore, a crypto miner named Blake Teeter from Colorado told Michael Kahn of pcmag.com that LHR technology did not stop him from buying GPUs and leveraging them for crypto mining purposes. Teeter said he added an LHR-based Nvidia GPU to his GPU farm, generating $4.5K per month in Ethereum (ETH) profits.
“Yeah, I think LHR was pointless,” Teeter remarked, adding that LHR-based Nvidia GPUs “are not a deal-breaker for miners.”
LHR-Based GPU Miners Sold at Similar Rates, Ethereum Hashrate Coasting at Record High
Meanwhile, a week after Nvidia introduced Lite hash rate products, the company admitted that it made $155 million from crypto mining chips in Q1 2021. At the time, Nvidia revealed that cryptocurrency miners were promoting sales, but the company also explained that it was trying. To prevent miners from using specific products. A digital currency miner named Tim Tarshis told Kahn that he had 30 LHR RTX 3060 Nvidia GPUs and that he bought them because “everyone was flipping them.”
Tarshis further stated that LHR technology has not made the price of GPUs cheaper, and he agrees that Lite Hash Rate products are designed to discourage people from using digital assets to use these devices. did nothing”. “Many people, miners and scalpers, were still buying cards at the same rates as before,” Tarshis said.
Currently, Ethereum (ETH) is up over 95% year-on-year and the network’s hash rate has touched an all-time high this year. At the time of writing, the Ethereum hash rate is above 1 petash per second (PH/s) or 1,038,957,431,086,586 hashes per second (H/s).
Until Ethereum transitions from a proof-of-work (PoW) chain to a full proof-of-stake (PoS) model, it seems likely that miners will take advantage of any tool they use to rake in profits. can. If Nvidia’s LHR products still produce ETH and other GPU minable crypto assets, they will likely be used for such purposes.
What do you think about crypto miners who say Nvidia’s LHR products didn’t stop them from using GPUs for cryptocurrencies? Let us know what you think about this topic in the comment section below.
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