It appears that cryptocurrency miners are to blame for the poor availability of nVidia’s RTX 30 series.
A new Barron’s report appears to hint at this, as the investment magazine reveals that analysts believe NVIDIA sold at least $ 175 million worth of Ampere-based GPUs to cryptocurrency miners during the company’s fiscal third quarter.
After cryptocurrency prices have been on the sidelines for more than two years, prices have soared again and this is sparking renewed interest in AMD and nVidia GPUs.
“For the quarter under review, Nvidia sold at least $ 175 million in next-gen GPUs to ethereum miners, which helped outperform, according to a note from RBC Capital Markets analyst Mitch Steves. The analyst had guided sales to miners to $ 150 million for the quarter.
Steves noted that the upcoming Ethereum blockchain network upgrade, also known as Ethereum 2.0, which is scheduled to take place sometime in December, requires miners to switch to more efficient mining hardware. Nvidia’s new Ampere GPU chips are believed to meet that need. “