BANGKOK SHOPPING MALL DEDICATED TO CRYPTO MINING – Every GPU & Mining Parts Under One Roof
RUMOURS of a new cryptocurrency mining chipset from NVIDIA have sparked renewed interest from bitcoin miners this week. But is the GPU giant about to drop a new crypto mining card? NVIDIA’s gargantuan chokehold on the gaming market could be weeks away from expanding into cryptocurrency mining with rumours of a new Ampere product line.
On March 26 the graphics card (GPU) manufacturer is set to announce a new line of gaming cards codenamed Turing at the GPU Technology Conference (GTC).
But online forums are now alive with the rumour that on the sidelines of the tech show, the company will boldly march into crypto mining.
A rumour spread on 3DCenter stipulates that NVIDIA’s chipsets will move away the Volta micro-architecture adopted in May 2017 for Ampere. WCCFTech writer Usman Pirzada speculated: “In any case, the Ampere based NVIDIA GeForce GTX 2070 and GTX 2080 graphics cards should certainly help revive some demand in the industry and will almost certainly run into severe shortage issues as miners pick up the initial batches. Rapidly evolving technology has made cryptocurrency mining a reality on home computers. Over the years, the mining process and its efficiency has improved with the use of better hardware. (For more, see How Does Bitcoin Mining Work?)
Graphic Processing Units (GPU) have been used in the mining process for many years. This article discusses the GPU and its use in cryptocurrency mining process.
What Is a GPU Versus a CPU?
Each standard computer is equipped with a Central Processing Unit (CPU), which is a processing device that acts as a master of the whole computer system. It performs the controlling functions for the whole computer based on the logic of the operating system and the software installed on the computer. Typical functions – like save this file as MS Word, print this spreadsheet, or run that video in VLC Media Player – are controlled by the CPU.
A GPU is another processing device, but it is specialized for handling display functions. It is the part of a computer that is responsible for its video rendering system.
The typical function of a GPU is to perform and control the rendering of visual effects and 3D-graphics so the CPU doesn’t have to get involved in minute details of video-rendering services. It takes care of graphics-intensive tasks such as video editing, gaming display, and decoding and rendering of 3D videos and animations.
Despite technological advancements, certain challenges – like excessive power consumption and limited profit potential – remain which mar the efficiency of the mining hardware.
GPUs have been around for years, but are now facing competition from improved, new-age devices. They include the Field Programmable Gate Arrays (FPGAs) and the Application Specific Integrated Circuits (ASICs), which score better than both CPUs and GPUs at performing hash calculations, an essential function to blockchain management in cryptocurrency. Pantip Plaza is an indoor IT shopping mall located on New Phetchaburi Road in Ratchathewi district, Bangkok, Thailand The mall has two anchors, IT City, which occupies the top floor, and Data IT on the mezzanine level. There are hundreds of small shops specialising in computer hardware, software, and accessories, including repair, modifications, networking, secondhand, laptops, Macintosh and peripherals. Cryptocurrencies of all types rely on mining to unlock units of currency for use in transactions and exchanges. The mining process differs from currency to currency but inevitably involves complicated computer rigs which solve difficult puzzles, earning tokens or currency as a reward. The most significant currencies, including Bitcoin, sport professional mining outfits with gargantuan hardware setups working around the clock at these tasks. Now, blockchain fans are creating their own individual hardware rigs for the purpose of mining lesser-known and rising currencies available on the Ethereum network.
An at-home mining setup certainly does not guarantee immediate or easy wealth. Many fledgling cryptocurrencies have yet to take off and may never see the gains that have made Bitcoin especially newsworthy in recent weeks. Nonetheless, fans of the digital currency industry see the increase in interest as a great sign that cryptocurrencies of all kinds are gradually making their way into the public consciousness. Further, the more independent mining operations exist, the greater the degree of decentralization, and that is typically a founding principle for any of these currencies.