Nvidia’s Crypto mining chip sales continue to plummet

In February of last year, Nvidia announced the introduction of crypto-specific CMPs as a measure to safeguard gamers’ purchases of its flagship GPUs.

Nvidia's Crypto mining chip sales continue to plummet

Nvidia reported $266 million in sales from its CMP subsidiary in the second quarter of last year.

Nvidia on crypto mining

While its conventional GPUs are capable of cryptocurrency mining, the firm said on Wednesday that it has little visibility into how much mining affects its total GPU demand.

To keep more goods available for players, Nvidia imposed a hash rate cap for its premium GeForce GPUs last year.

Nvidia said at a recent conference held by Wall Street investment firm Needham that practically all of its Ampere-based devices would include a hash rate limitation to keep crypto miners away.

Meanwhile, Nvidia’s rival Intel (INTC) announced the launch of its own crypto mining-specific chips earlier this month, stating that mining firms Argo Blockchain (ARBK) and Griid Infrastructure, as well as the Jack Dorsey-led Block (SQ), will receive the chipmaker’s first mining chips later this year.

According to FactSet statistics, Nvidia’s fourth-quarter adjusted profits per share came in at $1.32, exceeding the consensus analyst forecast of $1.23. Its quarterly sales of $7.64 billion also exceeded expectations, which were set at $7.42 billion.

In post-market trade on Wednesday, Nvidia’s stock was down roughly 1%.