Nvidia recorded a record turnover due to the development of the mining of crypto-currencies

The mining of Bitcoins and other digital currencies has provided a consistent market. Moreover, this sector has contributed strongly to the growth of the computer hardware manufacturers that produce chips that are appropriate for each segment. The main actor in the field of GPU in 2017 has been Nvidia. In addition, the manufacturer has not even been able to anticipate the strong demand in the minors last year.

Source : Pixabay. Nvidia displayed a sales record with the sale of the graphics cards dedicated to minages of crypto-currencies.

The mining industry stimulates the benefits

Nvidia Corporation, the manufacturer of graphics processing units (GPUS), has registered a record turnover of 2.91 billion in the fourth quarter. An increase of 34 % was recorded, because a year earlier the sales of the company was $ 2.17 billion. The company has reached the peak of financial performance, at least in part, due to the high demand of the miners of crypto-currencies that buy its graphics cards wholesale.

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The CEO of Nvidia, Jensen Huang, has stated that the company has achieved another record quarter, capping an excellent year. Participants of the conference GPU Technology from Nvidia have reached 22 000, ten times more in five years, he continued. The software developers working on the AI (artificial intelligence), autonomous cars, and other domains have trust in their experience, said Mr. Huang.

Up to 230 million dollars in revenue

The chief financial officer of Nvidia has indicated that, although total revenue related to minages of crypto-currencies are difficult to quantify, he believes they represent a turnover percentage higher than the previous quarter. That said, its main objective is to dominate the market for graphics chips dedicated to video games.

Analysts who have followed the evolution of turnover of the company consider that it amounts to hundreds of millions of dollars. Mitch, Steve, RBC Capital Markets has estimated that the revenue of Nvidia related to the sale of graphics cards for minors have reached 180 million in the 4th quarter, compared to only 70 million in the previous quarter. The mining sector of Nvidia would be more than $ 230 million.

Source : NewsBitcoin