Nvidia debuted its new GeForce RTX 3000 family in September, impressing critics and users alike 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 gains of the Turing architecture and RTX 2000 family and surpass them with ease.
However, Nvidia’s new GPUs have faced a serious problem since they hit the market: lack of stock. Hit by the pandemic and even potential problems in manufacturing the chips, the company was unable to meet high demand as the cards were not available in virtually all markets in which it operates. In light of this, Nvidia has released a statement confirming that availability issues are expected to last until early 2021.
According to analysts at RBC Capital Markets and Barron’s, the lack of inventory may be another factor that is not discussed. Experts estimate that more than $ 175 million in RTX 3000 GPUs were sold directly to Ethereum crypto mining, rather than partner manufacturers.
Interestingly, the crypto mining sales are included in the company’s game division report, which posted a profit of $ 2.27 billion in the last fiscal quarter. Excluding the profits posted by analysts, revenue is still around US $ 2.1 billion, showing that crypto mining does not represent a large number in the company’s total sales.
Still, $ 175 million is a significant amount, and its share of the lack of inventory is obvious, and should represent a large portion of the records produced that no longer serve players to serve as mining hardware. Unfortunately, as the WCCFTech website points out, the high demand in this industry shouldn’t pass away anytime soon, especially with rumors of the arrival of Ethereum V2.0.
The impact of crypto mining on the GPU market is not surprising, and it has happened before. Recent rumors already indicated that we would see this market segment affect prices and availability again, which in fact appears to be happening.