Nvidia Corporation published data on revenues from the sales of video cards for the production of crypto-currencies for the first time. So, in the first quarter of the fiscal year 2019, miners brought to the giant $ 289 million in profit. At the same time, the company expects that this figure will become much smaller in the second quarter, Bloomberg reports.
For example, during a group call on revenue, Nvidia CEO Huang Jenxun noted that the demand for video cards for mining was higher than expected, but the company believes that in future the number of GPUs bought by miners will decrease by about two-thirds.
Crypto miners bought a lot of our GPUs in the quarter and it drove prices up. I think that a lot of gamers weren’t able to buy into the new GeForce as a result.
Chief Executive Officer, Nvidia
The mining GPUs sales profit of Nvidia, was higher than that predicted by analysts. For example, Christopher Rolland of Susquehanna predicted that the corporation will earn about $ 200 million on video cards for the production of cryptocurrency.
Earlier, the head of Nvidia, Huang Jensen, said that, despite the pressure from regulators, cryptocurrencies will be popular for many more years. At the same time, according to a study by analyst firm Jon Peddie Research, the cryptocurrency alaquotes helped AMD reduce the market gap from Nvidia and secured 10% of the company's profit in the first quarter of 2018.