Nvidia mining-chip sales slump 60% in Q3

Sales of Nvidia CMP mining GPUs in the July–September quarter fell 60% quarter-on-quarter, from $266 million to $105 million. The decline occurred as Ethereum’s price rose by more than 30% during this period.

“We do not know to what extent cryptocurrency mining affected the sales metric for GPU. The volatility of prices for digital assets may affect demand for our products and our ability to forecast it.”, the press release said.

The Nvidia CMP 30HX mining-specific GPU introduced in March 2021.

Since the launch of the line, total CMP sales have amounted to $526 million, equal to 3% of revenue for the period.

According to the third-quarter report, the company’s revenue rose 50.3% year-on-year to $7.1 billion, net income jumped 84.4% to $2.46 billion. The lion’s share of revenue came from sales of chips for gamers and data centers.

At the investor conference, company representatives said that almost all GPUs sold are equipped with specialized software to restrict their mining capabilities.

Earlier, enthusiasts bypassed the protection and circumvented the restrictions, including with the help of an official driver.

In June, Nvidia CEO Jensen Huang expressed hope that the company would be able to meet miners’ demand for GPUs via the CMP series, while keeping the RTX lineup available for gamers.

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