Nvidia; Ether Mining Activity Contributed Less to the Fourth Quarter of 2020

February 25, 2021

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The Ether mining activity contributed less to the revenue of the fourth quarter of 2020, Nvidia says. However, it lacks the ability to record accurately or quantify the end uses of its graphic processing units or GPUs, Colette Kress the Nvidia CFO stated the firm estimates that between $100 million and $300 million, a comparatively very small part of Q4 revenue came from ETH miners purchasing GPUs to utilize in their mining process.


Although, Nvidia reported a total of $5 billion in revenue for Q4 2020, stating ether mining sales presented only 2%-6% of the total.


Ethereum’s hash rate has developed 124% in the previous year, as per information from Coin Metrics, couple with the overall digital money market’s convention. This has driven interest in Nvidia’s GeForce RTX 3060 designs card, a lot to the disappointment of the organization’s gaming clients. Later on, however, miner contributed revenue for Nvidia is probably going to come from the purchases of one more of the organization’s products. 


Nvidia recently said it’s altering its GeForce RTX 3060 graphics card to restrict its own productivity if the card identifies it’s being utilized for Ethereum mining, a move intended to guarantee GPU supply is accessible to gamers. We might want GPUs to wind up with gamers, Kress said on the organization’s profit call Wednesday.


To serve the mining local area, the organization is dispatching Cryptocurrency Mining Processors (CMPs), which are enhanced to improve Ethereum mining and will provide the firm greater perceivability into the portion of income contributed by cryptographic money miners, Kress added. 


Nvidia plans to sell its new CMPs to mechanical Ethereum miners and expects the mining-specific item to generate almost $50 million in revenue during its first quarter of sales. Nvidia likewise plans to evaluate miner revenue contributions on the whole future quarterly profit reports.



Image Courtesy : Pixabay

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