Nvidia Acknowledged the Role of Miners In Their Business Development
The sales of Nvidia, one of the biggest computing equipment manufacturers, showed 84% growth within the first quarter of 2021. The company confessed that they owe it to miners a lot, however, their output is difficult to estimate due to the difficulties in tracking the use of their equipment. Their profits went beyond the boldest predictions, as reported by CNBC.
The sales of Nvidia’s graphic processors (GPUs) showed 81% growth up to $3,45 billions. The demand from the video gaming industry doubled within the last year. Special GPUs for crypto mining introduced by the company back in March brought $155 million profit. In the long-term perspective the demand from the crypto market, however, may change. One of the reasons for this may become the coming Ethereum 2.0 standard.
Back in February, Nvidia reduced the hashrate of their desktop video card GeForce RTX 3060 to make it less attractive for the crypto miners. Later they did the same to three more types of video cards. However, they now acknowledge that the interest from miners contributed to their wealth.