Nvidia Wins $ 155 Million In Crypto Mining Chips In The Last Quarter

Computer chip maker Nvidia's transition to crypto mining hardware has proven to be profitable, and the company generated $ 155 million in revenue in the last quarter with its Crypto Mining Processor (CMP) cards. In the company's earnings update Wednesday, Nvidia announced that it expects CMP sales to reach $ 400 million this quarter. Despite these numbers, CEO Jensen Huang pointed out that the company's core business is PC gaming hardware. He hopes crypto miners will stick to Nvidia's CMP products rather than GeForce gaming GPUs. Nvidia Wins Case Over $ 1 Billion Crypto Mining Claim PC gamers and crypto miners are fighting for Nvidia's limited line of GeForce graphics cards that are designed for high-performance graphics processing in PC games but can also be used to create cryptocurrencies like Ethereum. . "We hope that CMPs will satisfy the miners and remain in professional mines," Huang said, "CMP provides better yields and its production does not move away from GeForce supply of gamers." Nvidia's battle between miners and gamers is that the prices of graphics cards are rising and With player prices rising in the market, Nvidia is struggling to balance its player base and lucrative crypto mining market. The company responded by trying to implement the hash rate. Limiters slowing down crypto mining performance on their GPUs have also launched a range of custom CMP cards to appeal to the crypto mining market. Nvidia's CMP has had great success among miners, with tests showing comparable performance to the RTX 3060 GPU. Hut 8 Mining Corp, a Toronto-based Bitcoin mining company, withdrew $ 30 million from CMP cards shortly after its launch. Meanwhile, rival producer AMD took a different route and announced that it would not try to overwhelm him.

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