Silicon manufacturing giant, NVIDIA has posted its quarterly results and from the looks of it, team green is doing good for sure, even after the major semiconductor shortage plaguing the electronics industry.
Bad market, Good result
NVIDIA announced a quarterly profit of over $5.66B which is 20% up from last quarter. Analysts expected a much lesser revenue outcome from NVIDIA considering the ongoing semiconductor shortage fiasco at around $5.39B.
A surge in the purchase of NVIDAI’s graphic chips for the sole purpose of mining could have been the reason behind the increased revenue, however, Nvidia did not make a statement on how certain they were of that.
See also: Crypto Mining Banned in Iran Following Widespread Power Outages
The Bright Future of NVIDIA
“We believe gaming also benefited from cryptocurrency mining demand, although it is hard to determine to what extent,” NVIDIA’s Chief Financial Officer Colette Kress said in a statement.
The company’s shares went down a further 1% after announcing their quarterly results because of the uncertainty of the source of their revenue. Mining is a huge concern at this point especially when countries like Iran had to ban crypto mining for 4 months to prevent grid failures.
NVIDIA is set to unveil their all new LHC ampere chipsets that will be capable of limiting mining performance by almost half and at the same time deliver its maximum gaming potential.
Following the global semiconductor shortage as well as the extreme prices of the graphic cards that are being heavily scalped in most markets, NVIDIA took this major step to introduce multiple ‘unhackable’ safety measures to tackle mining farms and hoarders.
Follow our website for more information on NVIDIA’s new LHC chipsets as well as the latest news on cryptocurrencies.