Kress’s figures don’t include the videogame graphics chips that miners are buying–some of those used by gamers can also be put to work mining. Management expects crypto revenue of $400 million for the second quarter.
In its fiscal first quarter, which ended in April, Nvidia sold $155 million of its crypto chips, according to finance chief It throttled the videogame cards’ mining functions. The chips were so popular among miners-videogame players may use one or two, while miners use many, many more-that Nvidia designed a version of the semiconductors that are specifically designed for mining. The company’s most recent exposure to cryptocurrencies dates back to last year, when miners discovered that its Ampere-based graphics chips were good at producing Ethereum. The stock is up 74% over the past year, while the PHLX Semiconductor index, or Sox, has risen 51%.
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