GPU maker Nvidia did not make the planned revenue from its line of cryptocurrency mining processors (CMPs) in Q3 2021, with sales of just $ 105 million.
Sales of its line of cryptocurrency mining processors (CMPs) fell 60% in the last quarter, from $ 266 million to $ 105 million, with numbers expected to fall further in the fourth quarter. The report says that for the entire life of the product, revenue was $ 526 million, which is about 3% of the company’s total revenue of $ 19 billion for the same period.
The company’s total revenue comes almost entirely from sales of gaming equipment, GPUs for data centers, and professional rendering equipment. Total sales of the GPU line grew 50% year-over-year, with $ 3.2 billion in single-quarter revenue from GPU shipments to gamers and PC builders.
“The demand for NVIDIA AI is growing rapidly. This is due to the scaling of cloud technologies and the widespread implementation of solutions from more than 25 thousand companies. NVIDIA RTX has re-invented ray-traced and artificial intelligence computer graphics, making it the perfect update for gamers and professionals in a variety of fields, ”said Jensen Huang, CEO of Nvidia.
The company was unable to meet its target for GPU mining lineup sales in Q2 2021. Nvidia’s chief financial officer, Colette Kress, predicted revenues of at least $ 400 million in the second quarter, but the total was $ 266 million.
