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Nvidia’s CTO Believes Cryptocurrency Mining is Valueless for Society

Michael Kagan, the CTO of Nvidia, has recently expressed his opinion that mining cryptocurrencies does not contribute to society.

In an interview with The Guardian, Kagan explains that the revenue of Nvidia’s gaming division has significantly decreased in the lead-up to the Ethereum merge in September 2023. To combat mining with Nvidia’s video cards, the company attempted to prevent miners from using their LHR series at the beginning of 2021. Kagan believes that this was the right decision, as mining cryptocurrencies adds nothing useful to society. Instead, he advocates for the deployment of computing power towards AI and large language models. Recently, Nvidia unveiled a new accelerator specifically designed for LLMs.

“All this crypto stuff needed parallel computing power. Since Nvidia has the best performance in this area, miners have bought a lot of hardware and programmed it for this purpose. In the end, things collapsed, because it added nothing useful to society – AI did.”

NVIDIA’s Breakthrough in Computational Lithography to Accelerate Next-Gen Chip Design For ASML, TSMC – 03/21/2023 07:01 PM
NVIDIA has announced a major development in computational lithography that will revolutionize the design and manufacture of next-generation chips. The company’s new software library, cuLitho, will en…

European prices for NVIDIA’s GeForce RTX 40 series dropped by 5%. – 12/05/2022 07:15 PM

The NVIDIA GeForce RTX 4090 is now only €1,859 (before it was €1,949), while the GeForce RTX 4080 has decreased to €1,399 (previously it was €1,469). According to the official NVIDIA store, th…

Marvel Spider-Man Remastered bundled with NVIDIA’s RTX 3090 and RTX 3080 series – 09/07/2022 06:57 PM

NVIDIA revealed the Be Greater game bundle, in which the company is giving away Marvel’s Spider-Man Remastered (2022) with new retail purchases of GeForce RTX 3090 Ti, RTX 3090, RTX 3080 Ti, and RTX …

AMD, Intel, and Nvidia’s CPU and GPU prices could rise another 20% in the next months. – 01/19/2022 10:47 AM

It is predicted that the costs of AMD, Intel, Nvidia, and other processors will rise by between 10 and 20 percent in the next months as the result of TSMC boosting chip prices….

Nvidia’s Ada Lovelace GPUs are manufactured on TSMC’s 5nm process rather than Samsung’s. – 08/30/2021 03:29 PM

Kopite7Kimi, a well-known Nvidia GPU  enthusiast an, has shared information on the future Ada Lovelace GPUs. The entirely new architecture would be based on TSMC’s 5nm fabrication technology….

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