Nvidia, the worlds largest provider of GPU (desktop graphics cards – used for crypto mining) launched its LHR (Lite Hash Rate) technology in May 2021. Designed to combat the issue of shortages of GPUs for gamers due to the increase in crypto mining throughout 2021, Nvidia’s LHR anti-mining software ensured that strict mining limits were in place for selected graphics cards – preventing performance and profitability for the average cryptocurrency miner.
The race to unlock the LHR technology
Naturally, it’s been a race since then for the world’s crypto mining experts to break the code and make LHR GPUs useful for crypto miners. And while solo miners have been on the case since Nvidia launched this tech, NiceHash is the first to fully unlock LHR graphics card with its proprietary software QuickMiner (Excavator), making online news headlines across the world.
NiceHash CEO Martin Škorjanc explains what this means and why it’s great news for crypto miners which they now accept with open arms. He also estimates that the breakthrough won’t adversely impact gamers either.
Global crypto mining worldwide now benefit from LHR limiter breakthrough since NVIDIA
Martin Škorjanc is the CEO of NiceHash . He explains: “As soon as Nvidia released the graphics cards with the anti-mining limiter for Ethereum it was only a matter of time until a company worked out a way round it.
“The NiceHash team were the first to crack the algorithm so that we can restore the LHR graphics card to 100% mining performance for ETH. Other mining software got part of the way there over the year since it was launched, but we’re the one that counts as we’re able to now give NiceHash users the benefits in this exciting period.
“So far, QuickMiner supports the DaggerHashimoto (Ethash) algorithm but we’re working on ensuring that it will also be enabled for Linux users very soon. NiceHash QuickMiner can now unlock nearly every graphics card to full mining processing power. There are only a few exceptions for those using the newer LHR algorithm.”
NiceHash services mean more earning potential for users
A Bitcoin.com report in January 2022 said that the attempt by Nvidia and their new management structure to slow down or stop crypto miners by restricting the tools available was largely pointless. The news meant less limiting the profits millions of miners could make and less money in the bank for the average miner.
“We spoke with PCMag at the time and were clear that we didn’t feel Nvidia’s move deterred miners,” explains Mr Škorjanc of NiceHash. “This is largely because the LHR cards only halved Eth mining to 50%. This allowed our company and other partners around the world to develop the software that will incrementally raise this. And by May 2022 we were able to do so to 100%. We were the father of this global mining breakthrough, with some other providers quickly following up. “
“The costs and availability of graphics cards have been easing recently so we don’t see that our breakthrough will adversely impact the sector. The only way this could happen is if the biggest business interests buy everything before the Ethereum transition finally happens, and I don’t see that happening.”
The Ethereum change is the much anticipated transition to Proof of Stake (PoS), something that was originally expected to roll out in June 2022. However, it’s recently been confirmed that the move (dubbed ‘The Merge’) that it will be a few more months yet. There are a lot of sceptics on why this is continually delayed and what the data implies for the wider cryptocurrency industry.
Constant support for NiceHash users
“We’re really pleased that we can offer LHR graphics card users the chance to make more profit by using QuickMiner,” says Martin Škorjanc of NiceHash. “Other software simply can’t unleash the full potential of your equipment in the same way, which makes it better than mining direct to a pool.
“While miners may choose to purchase a non LHR graphic card, the point is that the tech that was supposed to strangle their ability to mine now won’t stop them buying one. Recently, there hasn’t been much choice on the market, so miners have had little alternative due to scalpers buying up everything in sight.
“For many miners (not just NiceHash miners), buying an LHR card makes sense long term due to the upcoming ETH merge and their internal systems for mining. When this finally happens and Ethereum becomes unmineable there will be a surge in demand for LHR cards. Of course, Nvidia might decide to expand and father the limiter software to more currencies but there’s been no confirmation.”
Source: https://www.cryptopolitan.com/nicehash-ceo/