Large customer buys Nvidia's crypto card for SEK 260 million

Cryptocurrencies are very much on the agenda, something that among hardware enthusiasts may be extra noticeable because the scarce volumes of fresh graphics cards are also of interest to miners. In an effort to meet demand, Nvidia has released alongside the “Ampere” -based Geforce RTX 3000 series under the name CMP, which stands for Crypto Mining Processor and thus are intended for precisely the mining of cryptocurrencies.

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The CMP series currently consists of four models, where only the top variant 90HX uses the fresh “Ampere” architecture, while the 50HX, 40HX and 30HX use older “Turing” hardware. For a few weeks now, CMP headlines have been glistening with their absence in the news feed, but now Tom’s Hardware reports that one of the most enduring companies in the crypto-breaking industry has taken on Nvidia’s special series.

This is about the company Hut 8, which usually invests in Bitcoin, but which now buys a considerable amount of CMP cards – products that from Nvidia’s side are mainly highlighted as solutions for the currency Ethereum. The deal lands at USD 30 million, just over SEK 260 million. Exactly which models it is about is unknown, but the performance that is expected to be achieved with the expansion is 1,600 gigahash per second. Nvidia believes that the CMP 90 HX can handle 86 megahash per second in the Ethereum context, which translates to close to 19,000 graphics cards.

In a statement, Hut 8 says that deliveries of the cards will begin in May and that the systems are expected to roll out in the summer, where the new hardware will also open the doors to new opportunities for the company’s operations. Tom’s Hardware mentions that the “Ampere” family’s top circuit A100 can also take place in the CMP series in the future and then turn up the performance to 210 megahash per second, which can thus also be a candidate when delivery is relevant.

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The announcement shows that Nvidia’s dedicated series can be a functional initiative to spread different customer groups to different product segments. The same cannot be said about the limitation that came with the Geforce RTX 3060, but shortly thereafter was unlocked with new drivers. Whether more cryptocurrency-breaking companies and individuals will look to the CMP series in the future remains to be seen.