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Nvidia and AMD Announce Revenues from the Crypto Market

The leading GPU manufacturers, Nvidia and AMD, reported their revenues for the first quarter that came from the crypto sector. Nvidia’s profit accounts $289 million for selling crypto-mining related hardware, while AMD saw a 10% rise in the market share.

Nvidia sells more GPUs to miners

Nvidia has profited in the first quarter, with growths in Gaming, Datacenter, Automotive and Professional Visualization platforms. The total amount accounts at $3.21 billion. The crypto-related sales have driven an annual growth of 10%.

The company highlighted that this has been their first official announcement on their crypto market’s related revenues.

Nvidia’s CEO, Jensen Huang, commented that due to the increased demand from crypto miners in the first quarter, the prices went up. In result, many gamers didn’t buy the new GeForce video card.

While this was the result in the first quarter, the video card manufacturer expects a reduction of 60% in demand in this quarter.

Earlier this year, Huang has commented that Nvidia must increase their GPU production, as the crypto markets will be on the rise in the next years.

Blockchain drives AMD’s shares

Nvidia’s main competitor, AMD, has seen a 5.5% market share progress in the last quarter of 2017, which rose to 10% after. The company has announced its total income for the first quarter of 2018 at $1.65 billion.

The growth has been estimated at about 10% due to the constant demand for crypto-mining hardware. AMD sell their products cheaper than Nvidia, while their parts stay competitive in performance.

AMD’s CEO and president, Lisa Su, commented that she believes in the long-stay of the blockchain infrastructure. She noted that their sales for the first quarter have seen an annual growth of 40%.