NVIDIA sold fewer Crypto mining GPUs than expected

During the opening highlights of NVIDIA's fiscal Q2 2022 earnings call, NVIDIA CFO Colette Kress revealed that revenue of the firm's Cryptocurrency Mining Processors (CMPs) fell short of expectations. A quarter ago, NVIDIA anticipated it would sell $400 million worth of CMPs. The actual figure came in at $266 million due to the bust of the crypto market.

The combination of Crypto to gaming revenue is difficult to quantify. CMP revenue, which is recognized in OEM was 266 million, lower than our original 400 million estimates on reduced mining profitability. And we expect a minimal contribution from CMP going forward. GeForce NOW reached a new milestone this quarter, surpassing 1,000 PC games, more than any other cloud gaming circle. The premium tier is available for a subscription of $10 per month, giving gamers across access to RTX, cloud performance. even on an underpowered PC, Mac, Chromebook, iOS, or Android device. Moving to pro visualization.

80 percent of GeForce sales were LHR

Furthermore, Kress also revealed that 80 percent of the GeForce gaming GPUs shipments in the previous quarter were Lite Hash Rate (LHR) models. These are video cards with anti-cryptocurrency mining restrictions that roughly halve the hash rate when a mining algorithm is detected. The proportion of LHR cards is moving up. NVIDIA CEO Jen-Hsun Huang said it's currently "much higher" than 80 percent.

Still, it's hard to estimate how many GPUs end up in the hands of miners. It's likely that a lot of the regular GeForce GPUs are used by miners, whether it's industrial-scale mining operations or casual miners.