Nvidia Reports Decline in Mining Chip Sales

• Nvidia has released a third fiscal quarter report that indicates that sales of its cryptocurrency mining processor (CMP) line have slowed.

• According to the report, CMP sales have dropped by 60% compared to Q2 2021 from $266 million to $105 million, with sales of the product expected to continue to fall into Q4 2021.

• Statements from the computer hardware company reveal that it has made $526 million total revenue from the product line, making up about 3% of its total revenue of $19.27 billion over the same time period.

• While the CMP line may not be Nvidia’s most profitable offering, overall revenue is significantly up compared to last year. The valuation of the company is up almost 123% compared to Q3 2020, with overall sales up 50% year over year and $3.2 billion dollars made in Q3 just from graphic card sales to gamers and PC builders.