The Market Watch has released an article on the proposed increase in revenue on the sale of Nvidia mining hardware despite the decline in cryptocurrency mining. The report stated that the purported increase is due to the strong demand for data-centers and gaming devices.
A group of analysts had earlier predicted that companies involved in crypto mining hardware would experience a decline in sales. The same analysts said that the Graphics Processing Unit (Nvidia) would see significant growth in the sales of their mining hardware.
According to the statement by the market report, Nvidia has officially announced the release of its cryptocurrency mining motherboard.
“ASUS is eager to announce the new H370 mining motherboard. The motherboard supports up to 20 graphics cards. The motherboards reduce downtime problems making them easier to diagnose. The H370 mining master allows you to plug the riser cables directly into your computer’s motherboard” – The Nvidia team.
If the new H370 mining motherboard succeeds in gaining full market acceptance, then the revenue from Nvidia gaming sector will grow by 47% this year, and the Nvidia data-center will also increase by 78% this year.
“Data center is the main strength of The Nvidia Company. We believe that the concerns around Ethereum GPU mining strengths are overrated, and Nvidia is ready to ride the coaster through any cryptocurrency-driven tailwinds… Since the release of the ASUS B250 mining expert, cryptocurrency farms have become more accessible. The ASUS B25O mining expert exceeded our sales expectations because we took the insight gained from miners to redefine the formula for a second-generation mining expert”. – C.J. Muse
Previously, Nvidia released a report stating that the company generated about $289 million from selling processors to crypto users. Chips for cryptocurrency made about 76% of the $289 million generated by Nvidia in the first quarter of the year. Nvidia’s CEO, Jensen Huang explained that they were able to surpass all expectations from the sales of the motherboard due to an increase in the price of GPUs. He also added that the high costs of the GPU prevented gamers from buying them.
The CEO of AMD, – Nvidia’s main competitor – said in a statement on April 26, that the blockchain was “momentary in nature.” When asked further, she disclosed that blockchain was not a consistent source of future growth”.
She further explained that the blockchain technology only contributed about 10% of the growth of the company’s revenue. “The Blockchain is a nice growth factor, but it is certainly not the most foremost growth factor in our company” – CEO of AMD
Following the words of the CEO of AMD, the hardware mining industry did not convince manufacturers to start making processors despite the drop in prices. Jon Peddie Research told the computer world in April that they anticipated the drop after conducting a survey. At the time of the anticipation, the cost of the OEM 4G RX 580 processor sold at $3,600, but today, it is available for $2,500.
Are you into hardware mining – ASIC or GPU? Let us know your thoughts in the comment section below.