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Nvidia owes hundreds of millions of dollars in revenue to cryptocurrers in recent months

Nvidia has officially published the latest economic report of the company, which shows that the fourth quarter of 2020 as well as the business year 2021 were successful in terms of total sales. Although the company was also affected by the coronavirus pandemic, the resurgent popularity of mining various cryptocurrencies had a positive impact on revenue figures.

The company generated a total of $ 5 billion in the fourth quarter of 2020 and 2021, % more than in the same period last year. The company’s record revenue, by the way, is nearly $ 1.5 billion. Nvidia’s CFO Collete Kress said the company estimates $ 100-300 million in revenue can be attributed to cryptographic miners’ purchases, while the gaming category continues to account for the largest revenue

Detailed data for the periods shown below:

Nvidia owes hundreds of millions of dollars in revenue to cryptocurrers in recent months

The market for video cards, on the other hand, is in a strange situation, as there is a constant shortage of high-end hardware, as it is immediately bought by miners and profit-makers. Therefore, Nvidia also designs cards specifically designed for cryptographic mining and provides cryptographic protection for players’ video cards.

Nvidia generated a total of $ 16.7 billion in 2020, of which $ 4.3 billion net sales. Despite inventory shortages, the company sees this as a great achievement and estimates revenue of $ 5 billion for the next quarter, which will largely come from GPU sales sold in the gamer market.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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