Is there a lot of 3070TI mining cards? What is the level of graphics card?
Send Time：2024-09-06
On August 26th, Nvidia released its second quarter financial report, which showed a year-on-year decrease of 66% in revenue from its mining chip CMP related business classified as "OEM and Other". The reason for its poor performance is due to the drag of its gaming business, which mainly sells GPU products for gaming graphics cards to consumers. Nvidia stated that the 33% year-on-year decrease in revenue in the second quarter was due to a decline in PC (personal computer) gaming graphics card sales.
Colette Kress, Chief Financial Officer of Nvidia, stated, "The volatility of the cryptocurrency market, including price drops or changes in verification trading methods, has affected our product demand and ability to accurately calculate the level of interference in the past, and this situation will continue to occur in the future." However, when it comes to the impact of mining activities, she admitted that it is still difficult to accurately measure the extent of the impact of cryptocurrency on the business.
On the same day, the official foundation of Ethereum, one of the world's largest blockchain ecosystems, announced that Ethereum has officially abandoned the Proof of Work (PoW) mechanism and switched to Proof of Stake (PoS), a transition known as The Merge. It is first activated on the beacon chain through Bellatrix upgrade, after which Ethereum's Proof of Work (PoW) chain will migrate to Proof of Stake (PoS) when a specific total difficulty value is reached. According to the Ethereum Foundation's prediction, the expected time to trigger the merger is between September 10th and 20th, 2022.
Both Nvidia's financial report and Ethereum's announcement reveal a significant change: the golden age of graphics card mining has passed.
The so-called graphics card mining involves the operation of blockchain networks. Both Bitcoin and Ethereum use a proof of work mechanism called PoW, in which the size of the computing power becomes the key to obtaining block rewards. Based on the principle of PoW, people gradually discovered that GPUs have a height in "mining" that CPUs cannot match, which has made various types of GPUs the main force of mining. The skyrocketing price of cryptocurrencies has also led to a surge in mining revenue, and miners' rush to buy mining cards has even triggered the price increase of graphics cards from various manufacturers.
A crypto miner told Interface News that the main models for graphics card mining currently are the Nvidia RTX series 3080 and 3090 8-card. Due to the shortage of graphics cards in the market, most of the products sold on the market are futures, and even pre-sales have been made three months in advance. Due to the high market heat, most graphics card mining machines are directly sold to distributors/channel partners after leaving the factory, and then deployed to mining sites by miners to participate in mining. It is difficult to see the phenomenon of purchasing spot models on the market.
Colette Kress, Chief Financial Officer of Nvidia, stated, "The volatility of the cryptocurrency market, including price drops or changes in verification trading methods, has affected our product demand and ability to accurately calculate the level of interference in the past, and this situation will continue to occur in the future." However, when it comes to the impact of mining activities, she admitted that it is still difficult to accurately measure the extent of the impact of cryptocurrency on the business.
On the same day, the official foundation of Ethereum, one of the world's largest blockchain ecosystems, announced that Ethereum has officially abandoned the Proof of Work (PoW) mechanism and switched to Proof of Stake (PoS), a transition known as The Merge. It is first activated on the beacon chain through Bellatrix upgrade, after which Ethereum's Proof of Work (PoW) chain will migrate to Proof of Stake (PoS) when a specific total difficulty value is reached. According to the Ethereum Foundation's prediction, the expected time to trigger the merger is between September 10th and 20th, 2022.
Both Nvidia's financial report and Ethereum's announcement reveal a significant change: the golden age of graphics card mining has passed.
The so-called graphics card mining involves the operation of blockchain networks. Both Bitcoin and Ethereum use a proof of work mechanism called PoW, in which the size of the computing power becomes the key to obtaining block rewards. Based on the principle of PoW, people gradually discovered that GPUs have a height in "mining" that CPUs cannot match, which has made various types of GPUs the main force of mining. The skyrocketing price of cryptocurrencies has also led to a surge in mining revenue, and miners' rush to buy mining cards has even triggered the price increase of graphics cards from various manufacturers.
A crypto miner told Interface News that the main models for graphics card mining currently are the Nvidia RTX series 3080 and 3090 8-card. Due to the shortage of graphics cards in the market, most of the products sold on the market are futures, and even pre-sales have been made three months in advance. Due to the high market heat, most graphics card mining machines are directly sold to distributors/channel partners after leaving the factory, and then deployed to mining sites by miners to participate in mining. It is difficult to see the phenomenon of purchasing spot models on the market.
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