After hearing about the NVIDIA CMP series of cryptocurrency mining cards, we didn’t really learn too much about who would actually be purchasing them. Now, we know one customer who is ready to implement a lot of the CMP mining cards. Hut 8 Mining Corp. has put in a $30 million order with NVIDIA for CMP mining cards.
Hut 8’s Mining Capacity With The Added NVIDIA CMP Series Cards Will Rise To 1600 GH/s
Hut 8 Mining Corp. is already one of the largest and oldest Bitcoin mining companies and this purchase looks to greatly expand their mining capacity. NVIDIA will start delivering the CMP mining cards in May of 2021 and Hut 8 plans to implement them all by the summer. This purchase will increase Hut 8’s mining capacity by 1600 Gigahash. In terms of consumer GPUs, 1600 GH/s is equivalent to running roughly 13,333 RTX 3090s which have a hash rate of 120 MH/s. Hut 8 also mentioned that they will be using the CMP cards to venture into an alternative blockchain network and expand their current operation. The CEO of Hut 8, Jaime Leverton, was certainly excited to purchase the CMP mining cards.
The adoption and the development of applications interacting with various blockchain networks have never been stronger, opening many possibilities across a variety of industries. We are incredibly excited to have these high performance CMPs in our fleet. We believe mining with CMPs will open up new opportunities for Hut 8 and will allow us to continue to execute on our long- and short-term plans for increased and diversified revenue streams.
Hut 8 did not mention which CMP cards they will be receiving or how many they will be receiving. NVIDIA currently offers the CMP 30HX, 40HX, 50HX, and 90HX. There has also been a rumor of a 5th, more powerful CMP 220X based on the Ampere A100 GPU. The Ampere A100 GPU is the most powerful GPU in NVIDIA’s lineup aimed at HPC and AI applications. It’s likely that they will receive the CMP 90HX and CMP 220HX to add to their operation due to the sheer mining power of the cards.
Most miners can’t even compete with this level of sophistication, but it’s an impressive feat to have a mining operation with a hash rate of 1600 GH/s and surely draws a lot of power as well. For the regular consumer, the struggle continues to buy RTX 30 series GPUs as smaller miners have been purchasing them.