Nvidia debuted its new GeForce RTX 3000 family in September, making great impressions on critics and users thanks to the power of the Ampere architecture. Between 30% and 70% faster than their predecessors, the RTX 3070, RTX 3080 and RTX 3090 managed to recover the low performance gain of the Turing architecture and the RTX 2000 family, surpassing them with ease.
However, Nvidia’s new GPUs have faced a serious problem since they hit the market: lack of stock. Affected by the pandemic, and even by possible problems in the manufacture of the chips, the company was unable to meet the high demand, facing unavailability of the cards in virtually all markets in which it operates. In light of this, Nvidia issued a statement confirming that availability problems are expected to last until the beginning of 2021.
Now, according to analysts at RBC Capital Markets and Barron’s, the lack of inventory may actually have one more factor not discussed. Experts estimated that more than $ 175 million in RTX 3000 GPUs were sold directly for Ethereum cryptomining, rather than partner manufacturers.
Interestingly, sales for crypto mining are included in the company’s game division report, which posted a $ 2.27 billion profit in its last fiscal quarter. If we take out the gains recorded by analysts, the revenue still stands at around US $ 2.1 billion, which shows that crypto mining does not represent a large number in the company’s total sales.
Even so, US $ 175 million is a significant amount, and its share in the lack of stock is clear, and should represent a good portion of the manufactured plates that have stopped serving players to serve as mining hardware. Unfortunately, as the WCCFTech website points out, the high demand in this sector should not pass anytime soon, especially with rumors of the arrival of Ethereum V2.0.
The influence of crypto mining on the GPU market is hardly surprising, and it has happened before. Recent rumors already indicated that we would see this segment of the market influence prices and availability again, which seems to be in fact materializing.