NVIDIA Breaks Sales Records due to Miners

Nvidia upbeat current-quarter revenue forecast on Thursday underscored surging demand for its graphics chips used in data centres, gaming devices and cryptocurrency mining
09 February 2018   1764

NVIDIA announced on Thursday record revenue for the fourth quarter ended January 28, 2018, stating that demand for Nvidia graphics chips remained at a high level due to the cryptocurrency miners.

Strong demand in the cryptocurrency market exceeded our expectations. While the overall contribution of cryptocurrency to our business remains difficult to quantify, we believe it was a higher percentage of revenue than the prior quarter.

Colette Kress

Chief Financial Officer, NVIDIA

Nvidia’s revenue from gaming, for which it is best known, rose 29% to $1.74 billion, accounting for a more than half of its total revenue in the fourth quarter, and also beating analysts’ estimate of $1.59 billion.

Nvidia said it had a benefit of $133 million in the quarter as a result of recently enacted U.S. tax reform. The company expects to have a tax rate of 12%, plus or minus 1 percentage point, for the quarter. That's down from around 17% previously, Kress said.

In the fourth quarter, Nvidia introduced the Titan V graphics processing unit for desktop PCs, and it also changed the licensing terms for some of its GPUs.

Nvidia said it's expecting $2.9 billion in revenue, plus or minus 2 percent, for the first quarter of its 2019 fiscal year. Analysts were expecting guidance of $2.46 billion in revenue for the quarter.

We have recently reported that AMD, the main competitor of Nvidia, is planning to increase production of graphics cards, which are currently in short supply because of the crypto mining popularity.

Bitmain to Announce New ASIC Chip

BM1397 chip requires less energy and is able to achieve efficiency at 30J / TH
18 February 2019   66

This Monday, the Chinese mining company Bitmain announced the next-generation 7-nm chip codenamed BM1397, which, according to it surpasses its predecessors in performance and energy efficiency and is suitable for mining cryptocurrencies on the SHA256 algorithm, including Bitcoin and Bitcoin Cash.

The BM1397 chip requires less energy and is able to achieve efficiency at 30J / TH, which is “higher by 28.6% than the previous 7-nm chip from Bitmain”, codenamed BM1391.

BM1397 is manufactured using TSMC, a Taiwan-based semiconductor product company, which is one of the leading suppliers in the cryptocurrency mining industry.

The BM1397 chip will be installed in the new ASIC miners of the Antminer S17 and Antminer T17 models, the release of which Bitmain promises to announce later. The company does not provide other details of the updated devices in its message.