Nvidia sells dollar equivalent of 42,918 3080 gpu to 1 miner

[Nicholas Eagle]

Don't think you need a degree in english comprehension to apply it, and the cards haven't gone anywhere yet, they aren't going to be delivered until starting in May, so this production is in the future not the past. Nvidia claimed that they were nerfing the hash rates of the 3060 as they wanted to combat mining and then shortly after sign a 30 million dollar deal to sell mining cards

Yes but it is already sold/paid for, regardless of it being delivered or not.

The contract generally will be fulfilled in order of receiving it, NVidia are probably contractually obliged to fulfil it...

 

[KompuKare]

Please don't try to mislead the other forum members, or try to use clickbait links which don't give details of the sale.
The article I linked to clearly states that
"Publicly listed Canadian miner Hut 8 announced the purchase of the Nvidia CMPs on March 26. The move helps broaden the company’s mining capacities while maintaining its Bitcoin mining operation. Hut 8 did not specify how many GPUs, or which versions of the CMP, were being purchased."

And that's exactly what I did: read the article.
Which, you as the as the OP, decided to put a misleading headline unto.
So, it's not like a newspaper where a journalist can claim their article was dumbed down by the editor or sub-editor putting in a clickbait-y headline.
Unless beincrypto.com's writer wants to say their work was dumbed down by a headline writer...
As for the rest? Well, create a clickbait headline, get called out for it and claim the others are trolling?
Goodbye, added to the ignore list.

 

[ASMB]

And that's exactly what I did: read the article.
Which, you as the as the OP, decided to put a misleading headline unto.
So, it's not like a newspaper where a journalist can claim their article was dumbed down by the editor or sub-editor putting in a clickbait-y headline.
Unless beincrypto.com's writer wants to say their work was dumbed down by a headline writer...
As for the rest? Well, create a clickbait headline, get called out for it and claim the others are trolling?
Goodbye, added to the ignore list.

Thank goodness

 

[fs123]

And that's exactly what I did: read the article.
Which, you as the as the OP, decided to put a misleading headline unto.
So, it's not like a newspaper where a journalist can claim their article was dumbed down by the editor or sub-editor putting in a clickbait-y headline.
Unless beincrypto.com's writer wants to say their work was dumbed down by a headline writer...
As for the rest? Well, create a clickbait headline, get called out for it and claim the others are trolling?
Goodbye, added to the ignore list.

There is absolutely nothing wrong with the thread title. The OP has only put an estimated quantity of gpu's instead of the value of the deal so people can get an idea of how many gpu's are potentially diverted to a single miner. If the miner bought cheaper variants of the CMP chips then that quantity will be much higher.

Effectively we can expect even less cards to drop at retail since Nvidia will be fulfilling this order over the next few months.

 

[KompuKare]

Effectively we can expect even less cards to drop at retail since Nvidia will be fulfilling this order over the next few months.

Possibly, although Turing's chip shouldn't have too big an affect on Ampere.
Still, I think the shortage being mostly due to miners stories don't tell the whole story.
Something doesn't add up:

1. 8+ million plus next gen consoles sold (estimated as around 80% of AMD's TSMC wafers), but continuous shortages. (Incidentally, those wafers could have yielded close to 50 million Zen3 CCDs at a far greater profit.)
   
2. 3000 series card showing up on Steam, but continuous shortages.
3. Nvidia record revenue and profit.
4. RDNA2 despite being worse for mining (AMD's and Nvidia's position have reversed since previous gens), it has even greater shortages (some of which is of course due to the consoles using up all the wafers despite being AMD's least profitable use of wafers).

Mining certainly isn't helping but the demand is crazy.
Obviously aside from a flood of used cards, Nvidia don't care who they sell to but from a PR point of view blaming miners for their own shortages is convenient.
Miners are hardly long-term buyers while gamers tend to be repeat buyers and are far more likely to listen the PR spin.
If AMD wasn't constrained by TSMC, I suspect Nvidia would be far more worried as having the better mining card in a mining boom isn't good for marketshare figures.

 

[Nicholas Eagle]

Possibly, although Turing's chip shouldn't have too big an affect on Ampere.
Still, I think the shortage being mostly due to miners stories don't tell the whole story.
Something doesn't add up:

1. 8+ million plus next gen consoles sold (estimated as around 80% of AMD's TSMC wafers), but continuous shortages. (Incidentally, those wafers could have yielded close to 50 million Zen3 CCDs at a far greater profit.)
   
2. 3000 series card showing up on Steam, but continuous shortages.
3. Nvidia record revenue and profit.
4. RDNA2 despite being worse for mining (AMD's and Nvidia's position have reversed since previous gens), it has even greater shortages (some of which is of course due to the consoles using up all the wafers despite being AMD's least profitable use of wafers).

Mining certainly isn't helping but the demand is crazy.
Obviously aside from a flood of used cards, Nvidia don't care who they sell to but from a PR point of view blaming miners for their own shortages is convenient.
Miners are hardly long-term buyers while gamers tend to be repeat buyers and are far more likely to listen the PR spin.
If AMD wasn't constrained by TSMC, I suspect Nvidia would be far more worried as having the better mining card in a mining boom isn't good for marketshare figures.

Theres just higher demand that they expected - we can blame miners or scalpers sure but those GPU's are still making it to gamers if you go off of the steam survey.
GPU's are not just used for games as well, there are real benefits to workstation graphics without the associated cost of a Workstation Graphics card.

 

[Psycho Sonny]

Maybe when the said a Canadian mining company, they are somewhere cold enough to sell the excess heat to houses?
Not that electricity is the best for thing for space heating, but not all wasted heat is, er, wasted.

Lolwut?

So they are going to what build a whole new pipe network and then pump the heat into homes?

How successful do you think that money making venture will be?

Also this size of mining operation will be in the middle of nowhere where there is cheap land available not in the middle of residential properties.

 

[pandem0nium]

If I had £30 million the last thing I'd be investing in is mining crypto. Not at that scale anyway.

All it takes is a crash and he's literally lost 75% of that and the smarter play is to wait for a crash and then just buy BTC directly

Waiting for a crash to get on the boat risks missing the boat. Buy low, sell high isn't as easy as you'd think.

 

[Psycho Sonny]

Waiting for a crash to get on the boat risks missing the boat. Buy low, sell high isn't as easy as you'd think.

There's always another boat with these things.

All you have to look at is the historical chart from the start of BTC and it's always gained slowly for a while then rapidly increases beyond normal gains and once it's done that for several months you know a hard crash is coming. After the crash it takes a year or two to slowly start climbing again before the rapid gains come again.

It's currently in the cycle where it's priced high but the crash may not come for up to 18 months or it could come next week.

Regardless if I had £30 million I'm at the point where it makes sense to go to far less volatile investments. It's not as if I could easily spend that money within reason. Crypto is essentially just a pyramid scheme. Where your hoping it doesn't get killed off by the authorities banning it and sending people to jail for using it. And before that happens you hope you're well out by then if that does happen. I can't see it being used as a currency ever. It's a store of value based on someone paying more in the future. I'd much rather buy gold.

I mean I only need 1 home and I could easily find one for around a million. After I've bought a g wagon and an Aventador that still leaves me with £28.5 million that I don't need to do any better than just beat inflation with. So crypto would be the worst place to put it at its current pricing.

Yeah it's good to make easy money but one day a lot of people will be left holding it and crying for putting all their savings into it. I'm amazed that it's still going because it's essentially based on nothing but 0's and 1's. Also it can be hacked and stolen. All it would take is 2-3 of the big farms to join forces.

 

[Chuk_Chuk]

1. 8+ million plus next gen consoles sold (estimated as around 80% of AMD's TSMC wafers), but continuous shortages. (Incidentally, those wafers could have yielded close to 50 million Zen3 CCDs at a far greater profit.)
   
   
2. RDNA2 despite being worse for mining (AMD's and Nvidia's position have reversed since previous gens), it has even greater shortages (some of which is of course due to the consoles using up all the wafers despite being AMD's least profitable use of wafers

Those wafers exist because the consoles need them. Had the consoles not existed then AMD would never have bought that capacity because they cannot utilise all of that capacity in a normal market which is what AMD would be planning to.

 

[pandem0nium]

There's always another boat with these things.

All you have to look at is the historical chart from the start of BTC and it's always gained slowly for a while then rapidly increases beyond normal gains and once it's done that for several months you know a hard crash is coming. After the crash it takes a year or two to slowly start climbing again before the rapid gains come again.

It's currently in the cycle where it's priced high but the crash may not come for up to 18 months or it could come next week.

Regardless if I had £30 million I'm at the point where it makes sense to go to far less volatile investments. It's not as if I could easily spend that money within reason. Crypto is essentially just a pyramid scheme. Where your hoping it doesn't get killed off by the authorities banning it and sending people to jail for using it. And before that happens you hope you're well out by then if that does happen. I can't see it being used as a currency ever. It's a store of value based on someone paying more in the future. I'd much rather buy gold.

I mean I only need 1 home and I could easily find one for around a million. After I've bought a g wagon and an Aventador that still leaves me with £28.5 million that I don't need to do any better than just beat inflation with. So crypto would be the worst place to put it at its current pricing.

Yeah it's good to make easy money but one day a lot of people will be left holding it and crying for putting all their savings into it. I'm amazed that it's still going because it's essentially based on nothing but 0's and 1's. Also it can be hacked and stolen. All it would take is 2-3 of the big farms to join forces.

I've been following bitcoin and crypto for a long time. With bitcoin I do know the way historically there has been 4 year cycles. With a bull market following after a block reward halving. Then a big bloody crash, slowly rising / going sideways then until the next one.

Historical data is only so reliable for predicting the future though. PayPal adoption, visa and MasterCard talking about it as well. Tesla buying and accepting it for products. All I think will help sustain its value.

It sounds like you've made your mind up on crypto, and I'm certainly not going to try and change it. Gold is a good idea though. As is property, stocks. Just not sitting in the bank and turning to dust.

 

[KompuKare]

Those wafers exist because the consoles need them. Had the consoles not existed then AMD would never have bought that capacity because they cannot utilise all of that capacity in a normal market which is what AMD would be planning to.

Don't really disagree with any of that, but I've said before that since that time a few years ago when AMD had to write off a lot of surplus stock, I think they've been to conservative with their forecasts.
To me, the fixed costs of R&D and getting a product out are massive so stretching that cost over volume makes sense. But I feel that they are more obsessed with margins so beloved by stock markets forgetting that total profit are determined by both margins and volumes. As long as they are not selling at a loss (HBM), selling a few thousand 7nm Vegas never made sense to me.
Obviously currently there is such demand that for once they have little choice.

 

[KompuKare]

Lolwut?

So they are going to what build a whole new pipe network and then pump the heat into homes?

How successful do you think that money making venture will be?

Also this size of mining operation will be in the middle of nowhere where there is cheap land available not in the middle of residential properties.

Maybe Canada isn't the best example but some Nordic countries do have pumped heating for homes usually from power stations or incinerators. Guess there is not much chance of this miner being able to plug into that though.
Some strange houses in the UK have air central heating which sounds like a network of dusty cobwebbed pipes to me, but someone must have though they were a good idea.

 

[Chuk_Chuk]

Don't really disagree with any of that, but I've said before that since that time a few years ago when AMD had to write off a lot of surplus stock, I think they've been to conservative with their forecasts.
To me, the fixed costs of R&D and getting a product out are massive so stretching that cost over volume makes sense. But I feel that they are more obsessed with margins so beloved by stock markets forgetting that total profit are determined by both margins and volumes. As long as they are not selling at a loss (HBM), selling a few thousand 7nm Vegas never made sense to me.
Obviously currently there is such demand that for once they have little choice.

Tbf they got burned hard as a company that was nearly bankrupt having to scrap a bunch of stock.

I agree with your analysis but from what I understand attaining volume in this induatry involves millions of dollars to invest in equipment.

With those sort of numbers being "gambled" I can't see them adding more than an extra 20% to their volumes target when they are being ambitious.

 

[Psycho Sonny]

I've been following bitcoin and crypto for a long time. With bitcoin I do know the way historically there has been 4 year cycles. With a bull market following after a block reward halving. Then a big bloody crash, slowly rising / going sideways then until the next one.

Historical data is only so reliable for predicting the future though. PayPal adoption, visa and MasterCard talking about it as well. Tesla buying and accepting it for products. All I think will help sustain its value.

It sounds like you've made your mind up on crypto, and I'm certainly not going to try and change it. Gold is a good idea though. As is property, stocks. Just not sitting in the bank and turning to dust.

PayPal adoption?

Please. I can't buy and transfer to an offline wallet. Neither can I send to PayPal from an offline wallet.

That's not adoption at all. All they are doing is offering a service to make themselves money in terms of the spread. It's for crypto noobs.

If a lot of PayPal users start buying crypto I hope PayPal gets hacked tbh. Bitcoin can't be traced they still haven't found out who hacked nicehash or plenty of the real exchanges.

PayPal is offering the same service as revolut which again is a terrible service.

Tesla bought some and are accepting it because their owner thinks that it's an easy way to make money long term. He's taking a huge gamble. Elon is known for taking huge risks. I wouldn't take the fact he's gambled some of his wealth on it as a great sign either tbh.

What happens when it's only profitable to be a miner if you have access to free electricity? Chances are someone will amass enough hashing power to take over it all and effectively steal it all making it worthless overnight for a laugh. It's too risky on so many levels.

FYI I actually own bitcoin I'm holding on a nano ledger X. My plan is just to leave it on there and see what happens in 10 years time is when I plan to cash it in unless there is another huge pump shortly I'll cash it out. It's sitting at £45k and realistically it should only be at about £10k. I still think it has some legs in it. I reckon it could even hit £100k thanks to musk within the next 18 months but whenever it does crash it's going to go down to around £20-£25k. So currently it's hugely overpriced IMO.

If I had some on an active platform I'd have a stop loss placed at £40k and I'd sell as soon as it climbed more than £10k in a few days as you know a crash is going to happen straight after that.

So I'm glad that Elon and PayPal are getting into it like they are. Both are going to be the next waves bagholders guaranteed. All those 1's and 0's will take years off their lives soon enough. The bad thing is that it may cause so much publicity this time as so many people will have gotten into it off the back of musk which is driving the current price that it's going to be hard to see such a big pump and dump as this wave ever happening again.

 

[slim01]

You seem to like wasting my time by requiring me to point out the accuracy of a link when you could have read the article and found it for yourself

I'm not even sure who's actually read it.

Or why people would doubt it. We've been seeing stuff like this for ages now

 

[pandem0nium]

PayPal adoption?

Please. I can't buy and transfer to an offline wallet. Neither can I send to PayPal from an offline wallet.

That's not adoption at all. All they are doing is offering a service to make themselves money in terms of the spread. It's for crypto noobs.

If a lot of PayPal users start buying crypto I hope PayPal gets hacked tbh. Bitcoin can't be traced they still haven't found out who hacked nicehash or plenty of the real exchanges.

PayPal is offering the same service as revolut which again is a terrible service.

Tesla bought some and are accepting it because their owner thinks that it's an easy way to make money long term. He's taking a huge gamble. Elon is known for taking huge risks. I wouldn't take the fact he's gambled some of his wealth on it as a great sign either tbh.

What happens when it's only profitable to be a miner if you have access to free electricity? Chances are someone will amass enough hashing power to take over it all and effectively steal it all making it worthless overnight for a laugh. It's too risky on so many levels.

FYI I actually own bitcoin I'm holding on a nano ledger X. My plan is just to leave it on there and see what happens in 10 years time is when I plan to cash it in unless there is another huge pump shortly I'll cash it out. It's sitting at £45k and realistically it should only be at about £10k. I still think it has some legs in it. I reckon it could even hit £100k thanks to musk within the next 18 months but whenever it does crash it's going to go down to around £20-£25k. So currently it's hugely overpriced IMO.

If I had some on an active platform I'd have a stop loss placed at £40k and I'd sell as soon as it climbed more than £10k in a few days as you know a crash is going to happen straight after that.

So I'm glad that Elon and PayPal are getting into it like they are. Both are going to be the next waves bagholders guaranteed. All those 1's and 0's will take years off their lives soon enough. The bad thing is that it may cause so much publicity this time as so many people will have gotten into it off the back of musk which is driving the current price that it's going to be hard to see such a big pump and dump as this wave ever happening again.

Well yeah, PayPal adoption. Whether or not it meets your criteria as a good implementation, doesn't really matter.
It's not something I would use either, at least in it's current sate. It'll be better when merchants can be paid in crypto.

I'm also not about to trade my BTC for a Tesla. That's not the point though. Major tech companies and payment processors are talking about it and starting to use it.

Good on you for holding some bitcoin, despite your reservations. I'd guess a non-trivial amount as well to justify the cost of the Nano X.
It sounds like you've weighed up the risk of missing this particular boat and put some money in just in case. I'm sure it'll pay off in 10 years if you "HODL".

 

[Lomax]

That's BS mate. Do you really think they had a large amount of failed chips just waiting to be built into CMP for one customer?? It's obvious what's happening. They got a very large order for the CMP's so they would have fulfilled it by diverting lots of chips from gaming cards. They certainly aren't going to wait for failed chips to become available.

At this point there should be no surprise why there is lack of stock coming to retailers. This sort of stuff cannot be defended even by the most hardcore fanboys.

The crypto is definitely in a bubble fed by a weak dollar caused by the loud brrring from the fed.

Long term Nvidia needs graphics cards market share, the fact TSMC is swamped allows them to pull this sort of stunt. If Intel or some other top silicon supplier could step in they could grab enough market share to be viable gfx cards suppliers right now, especially with the bad feeling this is causing. I'm sure a lot of investment money is flowing in that direction right now.

 

[Psycho Sonny]

Well yeah, PayPal adoption. Whether or not it meets your criteria as a good implementation, doesn't really matter.
It's not something I would use either, at least in it's current sate. It'll be better when merchants can be paid in crypto.

I'm also not about to trade my BTC for a Tesla. That's not the point though. Major tech companies and payment processors are talking about it and starting to use it.

Good on you for holding some bitcoin, despite your reservations. I'd guess a non-trivial amount as well to justify the cost of the Nano X.
It sounds like you've weighed up the risk of missing this particular boat and put some money in just in case. I'm sure it'll pay off in 10 years if you "HODL".

I got the bitcoin several years ago. So it's done well so far. I cashed out my original investment last pump so it's all profit sitting in there so it won't bother me at all if it goes to zero I will have lost nothing then in that sense. It's not a tiny amount and it's not a large amount either. However if it keep going like it has historically it could turn into a large amount £ wise.

If you think about it logically. It is useless. Transaction fees are too high. It can be hacked despite the intended function of Blockchain because the amount of power, type of miner and leccy needed to keep it going.

All it would take is someone like jack ma or Chinese government to start mining and they could take it all over. That could be a great way for China to effectively destroy the west. Buy up a load of bitcoin to push the price up. Sell it as it gains traction from fomo investors. Then just destroy the whole thing.

Altcoins are again an even bigger scam just jumping on the bandwagon.

 

[pandem0nium]

I got the bitcoin several years ago. So it's done well so far. I cashed out my original investment last pump so it's all profit sitting in there so it won't bother me at all if it goes to zero I will have lost nothing then in that sense. It's not a tiny amount and it's not a large amount either. However if it keep going like it has historically it could turn into a large amount £ wise.

If you think about it logically. It is useless. Transaction fees are too high. It can be hacked despite the intended function of Blockchain because the amount of power, type of miner and leccy needed to keep it going.

All it would take is someone like jack ma or Chinese government to start mining and they could take it all over. That could be a great way for China to effectively destroy the west. Buy up a load of bitcoin to push the price up. Sell it as it gains traction from fomo investors. Then just destroy the whole thing.

Altcoins are again an even bigger scam just jumping on the bandwagon.

Yeah, good for you. I probably have a similar story to you with some left over from some hobby mining a few years ago. You're doing better than most having a hardware wallet securing and keeping custody over your own coins.

There's a lot of FUD out there, from the media for the most part and a lot of it is ill-informed. And then there's a lot of the opposite 'hopium' spread around say reddit and crypto-friendly news sites. Its Important to do your own research and make your own decisions.

We saw the 51% attack on ETC last year, so yeah, it's a possibility and a risk you have to take into account.

I don't put a lot of stock in most altcoins. But Ethereum I think is a winner. Defi and NFTs gaining a lot of popularity. Visa news about USDC and settling transactions using the Ethereum blockchain will be a nice boost I think.