Nvidia Crypto News: The New Product Launches Moving NVDA Stock Today

It appears that Nvidia (NASDAQ:NVDA) is attempting to once again put its products in the hands of gamers and remove crypto miners from the equation. The company’s newest line of GPUs is coming with a handicap for would-be Ethereum (CCC:ETH-USD) diggers. Will the Nvidia crypto news really have an effect on curbing the graphics card shortage?

Believe It or Not, There's a Safe Way to Buy NVDA Stock

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Nvidia announced that its new line of RTX 3070 and 3080 graphics cards will be coming over the course of the next month. Interestingly, the company also said that these graphics cards will come with Ethereum hash rate limiters. These limiters will curb the performance of the cards to deter crypto-miners from buying them.

The company has previously stated it will release a crypto-centric line of chips and GPUs. However, the newest announcement is showing that promise will have to wait further. The company’s first order of business is restoring its longstanding relationship with PC gamers.

Can the Nvidia Crypto News Really Save the GPU Shortage?

But will this news really curb the GPU shortage from crypto mining? Well, yes and no, according to CoinDesk’s Greg Thomson.

Thomson says that GPU shortages will be a non-issue in the next six to 12 months, thanks to Ethereum moving to a proof-of-stake algorithm. However, in the meantime, mining will spike in demand as miners jump at one last chance for profit, meaning the newest Nvidia line might be just as hard to come by as the last.

Twitter is certainly stirring from the announcement. The hashtag #Nvidia was trending as the company conducts its keynote, where it is officially revealing the product line.

Gamers will simply have to wait and see if the hash limiters will do good on Nvidia’s promise to deter miners from scooping up all the stock. With proof-of-stake still months out for Ethereum, investors should pay close attention.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/06/nvidia-crypto-news-the-new-product-launches-moving-nvda-stock-today/.

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