NVIDIA Produce $289 million of Mining Cryptocurrency in Q1

NVIDIA is the world's largest GPU Manufacturers, post a their income for the first quarter and reported revenues of $3.21 Billion, which is larger than the estimated $2.89 billion. According to the report, the company produces $289 Million or 9% of their total revenue from the sale proceeds to miner cryptocurrency.

NVIDIA is expected to produce $200 million through the sale of cryptocurrency or made almost 50% more. Although their crypto sales exceed expectations, they hope will go down in the coming months. With cryptocurrency being the most popular ethereum mined on the GPU, Bitmain is expected to take a significant portion of market related chip Antminer E3 when launched later this year.

Bitmain said that more revenue last year than Nvidia, whose products also include components for cloud computing and AI. NVIDIA reported a $3 billion in operating profit for this year, while Bitmain generates almost $4 Billion by selling miners ASIC.

NVIDIA may have no income from Bitmain, they make more sales of hardware crypto than their competitor AMD. AMD reported first quarter revenues of $1.65 billion of 10% was from the sale of crypto, suggesting that they only produce $165 million. As well as Nvidia, AMD also expects revenue from mining will decrease in the next few days.

Jensen Huang, Nvidia's CEO, says:

The reason why they buy the card'S GPU is to play games, but when they are not playing a game, when they are at school, at work, or in bed – they will turn it on and do the small mining. There is nothing wrong with it.<

Request consumer GPU to mining cryptocurrency sped through the roof, Nvidia tried to control sales and ultimately failed. In some markets, retailers sell graphics cards as much as twice the actual cost because of demand. However, the company seems to have finally come to terms with cryptocurrency, and ASIC Miner who will come from the Bitmain can eventually absolve their supply constraints.