Nvidia confirms: crypto miners are not to blame for the price explosion of the RTX 30 series

The vice president of Nvidia confirms that the crypto demand is currently low, but the door for special mining cards remains open.

The large graphics card manufacturer Nvidia has confirmed that the delivery bottlenecks and the subsequent price explosion of the RTX 30 series can only be traced back to demand from gamers and not to crypto miners

Colette Kress, Vice President of Nvidia, admits in this context that her company is not very good at determining how high the demand from crypto miners really is, but she is nonetheless convinced that this does not make up a noteworthy proportion.

A private miner recently demonstrated that the crypto community still has use for the manufacturer’s products , who built a mining rig from 78 Nvidia RTX 3080 graphics cards. This construction is said to be able to mine Profit Revolution worth 128,000 US dollars over the course of a year .

A lucrative business, which is why Kress keeps the door open for crypto miners. Should the demand from this area increase noticeably again, this would be a good opportunity to revive the CMP series. These are graphics cards that Nvidia has specially tailored for crypto mining , which is why components that are irrelevant for this purpose are not used here.

As Seeking Alpha reports , Kress made the relevant statements on January 12th at the JP Morgan Tech / Auto Forum Conference. So she said:

„Should the demand for crypto increase significantly, this would be a good opportunity to revive the CMP series and to serve the demand that has arisen.“

However, she sees the majority of future demand from the gaming sector, because in the end the hunger of gamers alone would have overwhelmed their own production capacities.

Kress sees the usability for crypto currencies simply based on the fact that the graphics cards from Nvidia are programmable, which has already helped the company to open up new market segments in the past:

“Yes, cryptocurrencies are interesting. As you know, our graphics cards have been programmable for many, many years, which means that new areas of application are constantly being found. This has also increased our demand in recent years. Crypto mining is one of these areas of application. „

According to Kress, Nvidia’s production capacities will remain limited at least until the beginning of the second quarter, which is why sales will stagnate during this period.