Graphics card manufacturer Nvidia has announced its revenues for the first quarter, mentioning separately the amount generated from sales to the crypto market. The total includes $289 million related to GPUs for cryptocurrency mining, according to a corporate report. Demand from crypto miners was stronger than expected, the company noted.
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Crypto Miners Bought a Lot of GPUs, Nvidia CEO
Reporting its financial results from a strong first quarter, Nvidia Corp. has revealed, in a separate box, the amount it generated from sales to the crypto sector – $289 million. According to the company’s CFO Commentary on Q1 Fiscal Results, the total revenue increased 66 percent year-over-year, and 10 percent sequentially, to a record $3.21 billion. All platforms – Gaming, Professional Visualization, Datacenter, and Automotive – have produced growth, the company said.
“GPU business revenue was $2.77 billion, up 77 percent from a year earlier and up 12 percent sequentially, led by Gaming and Datacenter,” the leading video card manufacturer announced. Gaming revenue was up 68 percent from a year ago and down 1 percent sequentially. Datacenter revenue exceeded $700 million, up 71 percent from a year ago and up 16 percent sequentially, Nvidia detailed.
“OEM [original equipment manufacturer] sales included $289 million related to GPUs for cryptocurrency mining,” the company pointed out, revealing reportedly for the first time the revenues from its sales to the crypto market.
Demand from cryptocurrency miners in the first quarter was stronger than expected, Nvidia admitted Thursday on its earnings conference call, according to Bloomberg. Nvidia CEO Jensen Huang said:
Crypto miners bought a lot of our GPUs in the quarter and it
