- Nvidia will release graphic cards specifically designed for cryptocurrency mining through its partners, according to a source familiar with the matter.
- The company's shares have more than tripled in the last year, in part because of demand for digital currency mining.
Nvidia, the market's best-performing stock, is going to launch graphics cards specifically designed for cryptocurrency mining through its partners.
Product listings for Nvidia-based and AMD-based cryptocurrency mining cards recently appeared on the website of ASUS, a leading maker of graphics cards.
"ASUS Mining P106 is designed for coin mining with high-efficiency components - delivering maximum hash-rate production at minimum cost," the product listing said. "ASUS Mining P106 enhances the megahash rate by up to 36% compared cards in the same segment that are not tailored for mining. The new card is also engineered to be seriously durable, enabling 24/7 operation for uninterrupted coin production."
The ASUS Mining P106 uses an Nvidia chip, according to the specifications page on the website.
The ASUS product listing for the Nvidia-based card is legitimate, according to a source familiar with the matter.
ASUS Nvidia-based mining card product page
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Source: ASUS website
Nvidia, AMD and ASUS have not officially announced the digital currency mining cards, according to their website press pages. It is not certain when the cards will be available for sale.
The dramatic jump in digital currency prices this year is driving demand for Nvidia and AMD graphics cards. Cryptocurrency miners use graphics cards from both companies to "mine" new coins, which can then be sold or held for future appreciation.
Nvidia is likely making the cards designed for this use so that the surging digital currency demand doesn't affect its ability to serve the lucrative PC gaming market.
The ethereum cryptocurrency is up more than 2,700 percent year to date through midday Tuesday, while bitcoin is up more than 140 percent this year, according to data from industry website CoinDesk.
AMD told CNBC in early June the "newly resurgent cryptocurrency mining markets" were driving demand for its graphics cards.
Nvidia shares rallied 236 percent through Monday in the previous 12 months compared with the market's 22 percent return in that period. That performance ranks No. 1 in the entire S&P 500, according to FactSet.
ASUS did not immediately return a request for comment. Nvidia and AMD declined to comment on this story.