Nvidia saw a revenue spike from sales of graphics cards to crypto miners

gamers should mine cryptocurrency easycryptohunterrig01
One of Easy Crypto Hunter’s six-card GTX 1080Ti mining rigs. Jon Martindale / Digital Trends

Despite Nvidia originally downplaying the impact of cryptocurrency miners on the availability and pricing problems facing the graphics card industry over the past year, new financial data suggests the impact may have been great. In the last quarter alone, Nvidia estimated that almost 10 percent of Nvidia’s revenue came from cryptocurrency miners and that doesn’t even factor in cards bought by miners under the guise of being high-end gamers.

We’ve been covering the unprecedented spikes in graphics card pricing for the past year and documented how most mainstream cards were priced far beyond what gamers could afford to pay. Cryptocurrency miners were blamed for buying up much of the stock and Nvidia’s new financial report suggests that could well have been the case. With near $290 million in sales to miners in the last quarter alone, Nvidia has made a lot of money from miners buying its graphics cards.

Overall Nvidia’s revenue reached $3.21 billion in the first quarter of the 2019 financial year, a rise of 66 percent over a year ago. That can be broken down into several key areas. Hardware sold for rendering purposes made up $250 million, while automotive graphics purchases topped $145 million, and datacenter sales hit a new high of $700 million. “OEM and IP” sales accounted for $387 million, but gaming still made up the largest portion of Nvidia’s revenue stream, reaching $1.723 billion, but Nvidia did say that may not be entirely accurate.

Nvidia’s CEO, Jensen Huang, said in an interview that there was no accounting for cryptocurrency miners who purchased gaming cards from retailers, as there is no stipulation that they need to be forthcoming about what they were buying the cards for. There’s also no telling how many ‘gamers’ also used their cards for mining in their downtime, as some companies have previously suggested they do.

“There is no way to tell [how many gamer cards were sold to miners] because a lot of gamers when they aren’t playing games, they’re doing a little mining,” Huang told MarketWatch. “The reason why they bought it is for gaming, but while they’re not gaming — while they’re at school, at work, or in bed — they’ll turn it on and do a little mining. There’s nothing wrong with that, I think that’s fine, but the real reason why they bought it is for gaming.”

Product Review

Fascinating Finney phone is crypto in a nutshell: Exciting, but also terrifying

The Sirin Labs Finney phone is to cryptocurrency what the iPhone is to Apple Pay. It facilitates the payment, processing, and exchanging of cryptocurrencies on a smartphone, and surprisingly does it in a user-friendly way.

Here's what you need to play games and watch movies in 4K on your PC

4K display tech is now cheaper than ever, but there's more to running stuff at such a high display resolution than just handing over the dough for a 4K-equipped display. Here's what you need to run 4K.

Nvidia promises DLSS at low resolutions will be ‘top priority’ in future updates

Nvidia's deep learning super sampling needs work. Gamers know it and now we know Nvidia knows it too. The company made it clear on the technology's FAQ page that it plans to make fixing DLSS a top priority.

DLSS is finally arriving in games, but how does Nvidia's super-sampling actually work?

Nvidia's new DLSS technology is exciting, but what is it and how does it work? It's not quite anti-aliasing and it's not quite super sampling. It's a little bit of both and the end results can be impressive.

Logitech’s G MX518 gaming mouse pairs classic looks with all-new tech

Logitech is relaunching one of its most popular classic gaming mice, the MX518. Now called the G MX518, it sports upgraded internals that give it a 16,000 DPI optical sensor and new and improved memory.

Microsoft could be planning a laptop with foldable screen, hints patent filing

Filed in late 2017 and titled "Bendable device with Display in Movable Connection With Body," the patent filing explains a new mechanism for laptops which can eliminate a hinge and allow the screen to fold shut from the inside,

With no plans for merging operating systems, Apple opts to combine apps instead

Apple is working on combining all of the the apps it offers to iPhone, iPad, and Mac users by 2021. App developers will soon be able to build and submit one version of their apps to be used by Apple product users.

From Chromebooks to MacBooks, here are the best laptop deals for February 2019

Whether you need a new laptop for school or work or you're just doing some post-holiday shopping, we've got you covered: These are the best laptop deals going right now, from discounted MacBooks to on-the-go gaming PCs.

Is AMD's Navi back on track for 2019? Here's everything you need to know

AMD's Navi graphics cards could be available as soon as July 2019 — as long as it's not delayed by stock problems. Billed as a successor to Polaris, Navi promises to deliver better performance to consoles, like Sony's PlayStation 5.

Here are the best Chromebook deals available in February 2019

Whether you want a compact laptop to enjoy some entertainment on the go, or you need a no-nonsense machine for school or work, we've smoked out the best cheap Chromebook deals -- from full-sized laptops to 2-in-1 convertibles -- that won't…

RTX might be expensive, but the 16 series could have the best Nvidia Turing GPUs

Set to debut at a step below the RTX 2060 on the price and performance spectrums, the GTX 1660 Ti and its other 16-series brethren could be Nvidia's killer mid-range cards of 2019 — especially with Tensor Core-powered DLSS.

Ryzen 3000 chips will be powerful, and they might be launched as early as July

AMD's upcoming Ryzen 3000 generation of CPUs could be the most powerful processors we've ever seen, with higher core counts, greater clock speeds, and competitive pricing. Here's what we know so far, based on both leaks and the recent…

These are the coolest games you can play on your Google Chrome browser right now

Not only is Google Chrome a fantastic web browser, it's also a versatile gaming platform that you can access from just about anywhere. Here are a few of our favorite titles for the platform.

Amazon takes $200 off Apple’s latest 13-inch MacBook Air with retina display

Amazon is taking $200 off Apple's latest MacBook Air. This MacBook Air has 13-inch retina display, a built-in FaceTime HD camera, and that classic lightweight wedge shape the Air is loved and known for.