• Tue. Dec 5th, 2023

Nvidia is Better off Mining their Own Ethereum, according to Capital Market RBC

Hassan Mehmood

ByHassan Mehmood

Mar 12, 2021

Nvidia is a tech giant in their own game as there is no second opinion there; the company develops the world’s best GPUs and graphics solutions, especially with their recent card launches supporting the DLSS 2.0 and RTX technology it has taken a massive leap above the heads of its competitors. The recent launch for the new RTX 3000 series was a huge success where the company did unveil various new GPU units that could take the world of gaming and graphics to new horizons, and simultaneously they did work for the crypto enthusiasts by introducing the same technology into the crypto oriented cards for miners.

These new cards have slightly lower clock speeds but pack a significant punch when it comes to the efficient mining of cryptocurrencies. Due to the overhaul of Ethereum these days, the mining community is shifting its attention towards mining it. Although according to the capital market, RBC Nvidia might be better of mining their own Ethereum rather than selling the GPU units to the buyers they have developed, especially for mining.

Less Hectic Operation Favored by More Profit

An analyst from the RBC capital market named Mitch Steves dictates that Nvidia can make huge sums of money by incorporating their recent technology into the mining rigs and then mining none other than Ethereum from these. The new mining chips developed by Nvidia are incredibly efficient for Ethereum mining, but rather than selling these off to the buyers, if Nvidia took arms themselves, they could make huge profits through mining Ethereum using their own technology. 

A tech giant such as Nvidia might not have any problems setting the mining rigs or working out other complicated issues associated with having an efficient mining setup. 

If they consider mining this altcoin internally, then the profit would turn around $200 million. As of today, this is only an assumption and nothing more than that, but it might be possible that Nvidia is interested in this proposal and might actually consider it. What is to them making a few more GPUs and then setting these off for Ethereum mining, that is, if they consider this opportunity.    

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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