NVIDIA Cryptocurrency Mining Processor sales hit $155 million

Posted on Thursday, May 27 2021 @ 13:13 CEST by Thomas De Maesschalck
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NVIDIA shed some light on the sales of its Cryptocurrency Mining Processors (CMPs). This product category was launched a couple of months ago, these are cards targeted specifically at cryptocurrency miners. NVIDIA's goal is to get more GeForce cards in the hands of gamers, by limiting the mining performance of GeForce cards.

So are the CMPs a success? During the opening remarks of NVIDIA's fiscal Q1 2022 earnings call, CFO Colette Kress revealed the GPU designer sold $155 million worth of CMPs last quarter. This quarter, CMP sales are expected to hit $400 million:
Along with the updated RTX 3060, this should allow our partners to get more GeForce cards into the hands of gamers at better prices. To help address mining demand, CMP products launched this quarter, optimized for mining performance and efficiency because they don't meet the specifications required of a GeForce GPU, they don't impact the supply of GeForce GPUs to gamers. CMP revenue was $155 million in Q1 reported as part of the OEM and other category. And our Q2 outlook assumes CMP sales of $400 million. -- NVIDIA CFO Colette Kress
Overall, CMP revenue is relatively small versus the $5.66 billion in sales NVIDIA generated last quarter. But the real question is perhaps how much of the $2.76 billion in Gaming GPUs sales really went to cryptocurrency miners.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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