Sales Related to Mining Cooled in Q3, Nvidia Says

Chip maker Nvidia said this week it will remain “agile” in its approach to crypto-coins, even if it reports a decline in revenue from related products.

The company released its third-quarter results on November 9: revenue from crypto-coin mining-related products reached $70 million, down from $150 million in the second quarter.

Nvidia suggested that this decline was driven in large part by a bullish market that is susceptible to changing demand. According to Colette Kress, chief financial officer of Nvidia, the crypto-currency market is “volatile” and therefore will not affect the company’s focus on the core gaming market.

The company’s chief executive, Jen-Hsun Huang, noted at the time that chip sales were “benefiting” from the growth of mining.

Huang added:

“For some time, we’ll see that the crypto-currency market will be small, but not zero, as part of our business.”

The CEO continued to note that demand for its ore products “reflects and flows” with the fortunes of the market. Huang previously stated that ” crypto-coins and blockchain are here to stay, ” stating in August that the company saw long-term perspectives on technology.

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About the Author: Nicolas Melendez

Nicola has over six years experience as a educator, business owner and financial adviser. He has a B.S. from Cornell University, and a Ph.D. in Sociology. Nick has worked as a computer tech for a major insurance provider before becoming a freelance tech and financial writer. To contact Nicolas, just click here

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