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Graphics Processing Unit (GPU)
A Graphics Processing Unit (GPU) is a specialised processor designed to perform complex calculations and graphics rendering, often used in gaming, scientific research, and machine learning (ML) applications. In the cryptocurrency space, they are much more frequently used as tools for mining cryptocurrencies.
Large mining companies, such as Hut 8 and HIVE Blockchain Inc., are examples of companies using large amounts of GPUs to mine Bitcoin. In recent years, there has been a shortage of GPUs on the market due to high demand for them to be used as cryptocurrency miners.
Key Takeaway
Commonly referred to as graphics cards or GPUs, a Graphics Processing Unit is a computer chip used in computers to create 3D images.