What just happened? NiceHash mining software can now bypass the mining limit Nvidia has placed on the LHR versions of its Ampere line, restoring full mining performance for most GPUs. However, this may not be as bad as it sounds, as Ethereum is expected to switch to a Proof-of-Stake algorithm soon.

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Over a year ago Nvidia launched Lite Hash Rate (LHR) versions of most of their RTX 3000 line, which were designed to greatly reduce mining performance for Ethereum and other cryptocurrencies that can be mined on a GPU.

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Since then, miners have been trying to bypass this limiter with variable degrees success. A couple of months ago, an unlocking tool was released that claimed to restore full mining performance, but it turned out to be just malware.

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Today, the developers of NiceHash, a company that provides mining software, announced that they completely bypassed the Nvidia limiter and unlocked the full performance of LHR card mining.

Several outlets have verified the newest release candidate for QuickMiner and confirmed that it works. An unlocked RTX 3080 Ti can now easily hit 110MHz/s, where it was previously limited to around 80MHz/s.

However, there are a few caveats as this method currently only works on Windows machines and only supports the DaggerHashimoto (Ethash) algorithm. It also doesn’t work on GeForce RTX 3050 and GeForce RTX 3080 12GB cards as they reportedly use the new LHR algorithm.

Considering how bad things have been in the crypto market lately (Ethereum price is currently at half of its peak) and improved availability and price of graphics cards, this news probably won’t affect the market too much. With most cards, it will take you about a year to break even, while Ethereum’s transition to the Proof-of-Stake algorithm expected happen this year.