Nvidia CMP chip sales fall 77% in Q4

In the fourth quarter of fiscal 2022, Nvidia’s revenue from selling cryptocurrency mining processors (CMP) fell to $24 million. This is 77% below the $105 million in the previous period, according to the report filed with the SEC.

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The manufacturer launched in early 2021 a specialized line of GPUs for miners. The move is intended to preserve the accessibility of the company’s flagship products for gamers.

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In the third quarter, Nvidia also recorded a drop in sales in the CMP segment from $266 million to $105 million — 60%. For the year, revenue from mining-chip sales totaled $550 million on gross revenue of $17.5 billion.

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In remarks on the fourth-quarter and fiscal-year results, the company noted that its regular GPUs can also mine cryptocurrencies. However, Nvidia declined to say how this would affect overall demand.

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“Volatility in the cryptocurrency markets, including shifts in prices or the methods for confirming transactions, such as Proof-of-Work or Proof-of-Stake, could affect demand and our ability to gauge it accurately,” the document said.

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The firm noted that virtually all GeForce GPUs with the NVIDIA Ampere architecture for desktop PCs have mining restrictions, designed to steer these products toward gamers.

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The Nvidia report said that in the first quarter of 2023 it would book a $1.36 billion charge to operating losses for SoftBank’s prepayment related to the ARM merger. The company announced on February 8 that it was terminating the 2020 deal, citing regulatory concerns.

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As noted, regulators in the United Kingdom and the United States opposed Nvidia’s acquisition.