Nvidia Q1 financial report: total revenue of 5.66 billion US dollars, encryption mining graphics card revenue of 155 million US dollars

This article comes fromThe Block, original author: Michael McSweeney

Odaily Translator | Nian Yin Si Tang

This article comes from

Odaily Translator | Nian Yin Si TangannouncedThe next-generation iteration of Ethereum, known as Ethereum 2.0 or Eth2, is considered by Nvidia as a potential threat to demand for its graphics card (GPU) products.

Wednesday, Nvidia

According to the financial report for the first quarter of fiscal year 2022, revenue in the quarter increased by 84% year-on-year to US$5.66 billion, and the revenue of the game department was US$2.76 billion, a year-on-year increase of 106%.pointed out。

Nvidia said it believed the $2.76 billion benefit was from demand for Nvidia graphics cards from cryptocurrency miners, but CFO Colette Kress said in a press release commented that the company did not know the exact extent of such an impact."Gaming revenue increased 106% year-over-year and 11% sequentially, reflecting higher GeForce GPU sales, record desktop and notebook sales, and record console SOC (system-on-a-chip) sales. We Continued to benefit from strong sales of the NVIDIA Ampere-based GeForce RTXTM 30 series. We believe the gaming business is also benefiting from cryptocurrency mining demand, although it is difficult to say to what extent,” Kresspointed out

In the long run, Nvidia's filings with the U.S. Securities and Exchange Commission (SEC)

10-Q filing

According to Zhong, the demand of the cryptocurrency mining industry may fluctuate with the status of the cryptocurrency market, as well as “changes in cryptocurrency standards and processes, including but not limited to the pending Ethereum 2.0 standard.”

As Nvidia points out:

"Demand and usage of GPUs for cryptocurrencies has fluctuated in the past and may continue to change rapidly. Volatility in the cryptocurrency market, including changes in cryptocurrency prices, may affect demand for our products and our ability to estimate demand for our products. Cryptocurrencies Changes in standards and processes, including but not limited to the pending Ethereum 2.0 standard, may also increase post-sale resale of our GPUs and may reduce demand for our new GPUs. In the first quarter of fiscal 2022, we believe the gaming business benefit from cryptocurrency mining demand, although the extent is difficult to determine.”

ETH miners earned more than $2 billion in May, according to data collected by The Block Research.expressAccording to previous reports, Nvidia is trying to prevent some GPU products from being used for encrypted mining by limiting the hash rate performance.

Nvidia May 18express, the company limited the mining power of three new graphics cards (RTX 3070, RTX 3080, and RTX 3060 Ti) and labeled them as "low hash rate." Nvidia is making sure its high-end GPUs end up in the hands of gamers and not ethereum miners by reducing the hashrate of new graphics cards by 50%.

According to foreign media wccftech reports, the release time of the two new graphics cards of Nvidia RTX 3080Ti/3070Ti

, will be officially unveiled at the COMPUTEX 2021 computer show on May 31. Overseas retailers have announced the specific release and release dates for the two graphics cards, of which the RTX 3080Ti will be on the shelves on June 3, and the media review will be released on June 2. The RTX 3070Ti was launched on June 10, and the ban on media evaluation was lifted on June 9.roll outBoth use the new LHR core, which stands for "lower hash rate", which means that it will limit the mining power of the graphics card from the hardware level. Moreover, Nvidia has also updated the drivers for these new graphics cards, blocking mining performance from three levels: driver, core, and BIOS.

roll outestimateNVIDIA CMP (Cryptocurrency Mining Processors, that is, cryptocurrency mining processors), which is a cryptocurrency mining processor specially designed for Ethereum. The product does not support processing graphics, which allows the miner to achieve better performance. Additionally, NVIDIA CMP consumes less power due to its lower voltage and frequency.

According to Kress, NVIDIA CMPs generated $155 million in revenue in the first quarter — up from April's