Nvidia: Sales of equipment to cryptocurrency miners in the fourth quarter surpassed expectations


Demand for Nvidia graphics chips remained high throughout the fourth quarter thanks to the cryptocurrency masters, the company’s CFO said during a teleconference this Thursday.

Commenting on the company’s performance for the reported period, Colette Kress reported that for the fourth quarter Nvidia earned $ 2.91 billion, up 34% from the same period last year. Positive dynamics, she associated with the demand from the side of the cryptocurrency miners.

“Although the contribution of mining cryptocurrency into our business is difficult to assess, it probably was higher than last year. Nevertheless, we are committed to meeting the demand from gamers, as the trends in the field of cryptocurrency will most likely continue to show volatility,” she added.

Nvidia’s management, including CEO Juan Renxun, has repeatedly stated the role of selling equipment for mining in its own business, while at the same time assuming that in the future demand among this category of consumers may decline.

Nvidia does not expect that the proceeds from the sale of equipment for mining will continue to grow, the analyst explained during the teleconference, adding that the company expects that in the future its products will be in high demand from gamers thanks to “the delightful computer games coming out these days” .

Previously, competitor Nvidia AMD said that it intends to increase the production of video cards to meet the demand of both miners and gamers.

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