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Nvidia’s Crypto Mining Chip Sales Continue to Fall Sharply.

The chipmaker's revenue from Cryptocurrency Mining Processors (CMP) plummeted 77 percent in the fiscal fourth quarter compared to the previous quarter.

Chipmaker Nvidia’s (NVDA) Cryptocurrency Mining Processors (CMP) revenue  decreased to $24 million in the fiscal fourth quarter ending Jan. 30, down 77 percent from $105 million the previous quarter, according to its filings.

  • In February of last year, Nvidia announced the introduction of crypto-specific CMPs as a measure to protect gamers' purchases of its flagship GPUs.
    Nvidia reported $266 million in revenue from its CMP subsidiary in the second quarter of last year.
  • While its conventional GPUs are capable of cryptocurrency mining, the company said on Wednesday that it has limited visibility into how much mining affects its total GPU demand.
  • To keep more goods available for gamers, Nvidia instituted hashrate limiters for its premium GeForce GPUs last year.
  • Nvidia announced at a recent conference held by Wall Street investment bank Needham that practically all of its Ampere-based products will include a hashrate limiter to discourage crypto miners from utilising them for mining.
  • Meanwhile, Nvidia's rival Intel (INTC) announced the launch of its own crypto mining-specific chips earlier this month, stating that mining firms Argo Blockchain (ARBK) and Griid Infrastructure, as well as the Jack Dorsey-led Block (SQ), will receive the chipmaker's first mining chips later this year.
  • Nvidia's fourth-quarter adjusted profits per share came in at $1.32, exceeding the consensus analyst forecast of $1.23, according to FactSet data. Its quarterly revenue of $7.64 billion also exceeded expectations, which were set at $7.42 billion.
  • In post-market trade on Wednesday, Nvidia's stock was down roughly 1%.