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Wednesday | May 5, 2021
HUT 8 buys $30 million worth of CMP from Nvidia

HUT 8 buys $30 million worth of CMP from Nvidia

Nvidia earlier this year launched its CMPs a family of new GPUs to target professional crypto-currency miners. In its official pitch, the company introduced this series of GPUs, in part to steer miners away from its other GPUs in the wake of shortages and speculation that are beginning to generate a lot of tension in the consumer card market as well as some frustration from end customers.

 

60% of Nvidia’s target in 1 order

During the company’s fourth quarter financial call, Nvidia CFO Colette Kress

said she expected about $50 million in total CMP sales in the first quarter this year. Visibly the company has just filled 60% of that target with a single order. Coindesk reveals that the acquisition of these new CMP cards will add about 1600 GH of mining capacity to the company to mine Ethereum and other alternative crypto-currencies. Hut 8 expects delivery during May and a full deployment of the CMPs this summer. The sources do not reveal the specific CMP benchmarks being delivered by Nvidia.HUT8 CMP Nvidia

Hut 8 is a cryptocurrency mining company in Canada. In January 2018, the company was listed on the Toronto Stock Exchange. Hut 8 has grown by building a proprietary combination of hardware, software and operational expertise. The company has taken care to locate its “data centers” in attractive, low-cost jurisdictions ( both from a tax standpoint and in terms of the cost of access to electricity).

 

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Edited by Calliers

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