{"id":368901,"date":"2021-11-18T12:40:55","date_gmt":"2021-11-18T09:40:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nvidias-q3-report-reveals-sharp-decline-in-crypto-mining-chip-sales\/"},"modified":"2021-11-18T12:40:55","modified_gmt":"2021-11-18T09:40:55","slug":"nvidias-q3-report-reveals-sharp-decline-in-crypto-mining-chip-sales","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nvidias-q3-report-reveals-sharp-decline-in-crypto-mining-chip-sales\/","title":{"rendered":"# Nvidia\u2019s Q3 report reveals sharp decline in crypto mining chip sales"},"content":{"rendered":"

“# Nvidia\u2019s Q3 report reveals sharp decline in crypto mining chip sales <\/strong>”
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Although digital currencies have skyrocketed in value throughout the year, Nvidia has not made any significant profits from its cryptocurrency mining processor (CMP) line.<\/p>\n

According to Nvidia’s third fiscal quarter report<\/a>, the company’s CMP sales dropped by 60% sequentially in the most recent quarter, with sales of the product line expected to drop even further in the fourth quarter.<\/p>\n

In its quarterly financial statement, Nvidia said CMP sales fell from $266 million in the second quarter to $105 million in Q3, which ended in October.<\/p>\n

Nvidia claims to have made $526 million in revenue throughout the product’s existence, roughly 3% of the total revenue of $19.27 billion over the same period. The company’s overall income has been driven almost entirely by gaming, data center and professional visualization equipment sales.<\/p>\n

Last quarter was no different in terms of CMP sales income. As reported by Cointelegraph, Nvidia surpassed Wall Street expectations by generating over $6.5 billion in profit. Still, it failed to meet its crypto-mining GPU line profitability target for the second quarter of 2021.<\/p>\n

During the first-quarter earnings call, Nvidia CFO Colette Kress predicted<\/a> a $400 million revenue for the company’s cryptocurrency mining processor line in Q2. In the second quarter, Nvidia sold CMPs worth $266 million, short of its goal by a one-third margin.<\/p>\n

Related:\u00a0Influx of crypto miners to Kazakhstan reportedly strains energy supply<\/em><\/strong><\/p>\n

While CMP has yet to gain significant traction, Nvidia’s profits have not been harmed. Its value is up almost 123% this year. Overall sales were up 50% year over year, and $3.2 billion was generated in a single quarter by selling graphics cards to game<\/a>rs and PC builders, according to the company’s earnings release on Wednesday.<\/p>\n

Still, the firm claims it can’t be certain that its increasing sales of graphics cards aren’t linked to the cryptocurrency market. During a call with analysts on Wednesday, Kress said that: “<\/em>Our GPUs are capable of crypto mining, though we don’t have visibility into how much this impacts our overall GPU demand.”<\/p>\n