Share this article
Nvidia Reports 'Substantial Decline' in GPU Sales to Crypto Miners
Nvidia has seen a "substantial decline" in revenue from cryptocurrency miners, the company announced in its second quarter results Thursday.
By Nikhilesh De
Updated Sep 13, 2021, 8:17 a.m. Published Aug 16, 2018, 8:45 p.m.
Nvidia is reporting a "substantial decline" in revenue as a result of declining sales to cryptocurrency miners.
In an announcement of its second quarter earnings Thursday afternoon, the graphics card maker's CFO, Colette Kress, stated that while "GPU business revenue was $2.66 billion, up 40 percent from a year earlier," it was "down 4 percent sequentially."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
At the time, she said that record performance in gaming, professional visualization and datacenter services "offset" a substantial decline in the sale of cryptocurrency GPUs.
She added:
"Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million, while actual crypto-specific product revenue was $18 million. Whereas we had previously anticipated cryptocurrency to be meaningful for the year, we are now projecting no contributions going forward."
The chip producer has seen GPU demand rise over the last year, largely due to cryptocurrency miners. Nvidia CEO Jen-Hsun Huang said in March that the company needed to ramp up its production to ensure that both miners and gamers had sufficient graphics cards.
That being said, the company has downplayed the actual impact mining demand has had on its financials. Kress said it was "hard to quantify" how much of its business came from miners versus traditional markets.
During a previous earnings call, an Nvidia representative said the company modeled cryptocurrency profits "approximately flat," adding that much of the demand for its graphics cards came from the number of "amazing games that are out right now."
Nvidia image via jejim / Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Gemini Approved by CFTC to Offer U.S. Prediction Markets, Stock Surges Nearly 14%
Gemini said its affiliate Gemini Titan won CFTC approval to operate a Designated Contract Market, allowing the firm to offer regulated prediction markets in the U.S.
What to know:
- Gemini said its affiliate, Gemini Titan, received CFTC approval to operate as a Designated Contract Market.
- The firm stated that the license enables it to offer regulated prediction markets to U.S. customers.
- The Winklevoss twins praised the decision as aligning with President Trump’s push for U.S. leadership in the crypto sector.
Top Stories
