Nvidia recently cited that Ethereum 2.0 might shift the demand of it's GPU's but it's also certain that it would do the same thing for other GPU providers like AMD, Asus and Intel. With Ethereum 2.0 moving from proof-of-work (PoW) to proof-of-stake (PoS) the allure of buying hundreds of GPU's to mine for a chance of getting the reward will most likely become less prominent. They might shift to other crypto but at that point it would likely be less cost effective and a very tedious process.
Now we have all of this info because of Nvidia's recent revenue announcement for the first quarter of 2021 which boomed to over 84% of what they were getting last year, in no small part thanks to Ethereum miners. They did however say that they are not sure as to how much it affected the sales cause of other positive factors like the pandemic...
"Gaming revenue was up 106 percent from a year ago and up 11 percent sequentially, reflecting higher sales in GeForce GPUs, with both desktop and laptop setting records, as well as in game-console SOCs. We continued to benefit from strong sales of our GeForce RTXTM 30 Series based on the NVIDIA Ampere architecture. We believe Gaming also benefited from cryptocurrency mining demand, although it is hard to determine to what extent,"
Nvidia has previously tried to stop miners from buying their GPU's through setting limiters on their cards but these were hacked through multiple times on multiple different models so it seems that they will shift their focus to demand rather than stopping miners completely. And with the fact that ETH 2.0 is fast approaching and not being so hardware-intensive, the demand may also shift dramatically.
I really hope it does, I need a new gpu guys! Thanks for reading, Cheers!
