Here’s How Much Nvidia Actually Made From Crypto Mining Sales (ccn.com)
Nvidia’s crypto mining sales have been published, here’s the best tl;dr summary we could make of ccn’s coverage:
According to a report by Markets Insider, Nvidia generated $1.95 billion in revenue from its crypto business.
RBC analyst Mitch Steves said that the revenue Nvidia generated from its crypto mining equipment manufacturing business from April 2017 to July 2018 is estimated to be $2.75 billion.
In December 2018, when Nvidia first started to show signs of underperformance, CNBC Mad Money host Jim Cramer said that it was a forecasting mistake that caused Nvidia’s stock to drop rather than variables like the crypto market.
“Nvidia still makes the best graphics chips, which have become more powerful than traditional microprocessors. It still has a lead over the competition in a lot of uses, although you could argue that AMD’s catching up to them in the data center while Intel rivals them in self-driving vehicles. I think Nvidia made an honest forecasting mistake, although given that some of us saw it coming, it was definitely an avoidable mistake,” Cramer said.
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Related story: ‘Final Testing’ Phase: Fidelity Nears Launch Of Cryptocurrency Trading & Custody Platform (ccn.com)
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