trade now
Cryptocurrency MiningNews

Nvidia Projects $150 Million Miner Sales By Q1 Of 2022

According to an announcement from the famous chipmaker Nvidia, the firm has announced a boost in its expectation at the end of the first quarter of next year. In the previous announcement, the firm positioned that it was expecting a turnover of nothing less than $50 million by the first quarter of 2022.

A recent update has put the company’s protection of returns at $150 million, adding a further $100 million income to the previous estimation that it made. The newly developed miner known as CMP is an industrial-grade miner that works for mining Ethereum. The development was first brought to the media around February as the company reiterated its stance to continue making chips for mining the second crypto.

Demand has outpaced the supply of the CMP miners

Their projections were born out of the massive surge in the rise of their graphics chip when the coronavirus pandemic was still fresh in the open. At that period, the firm pointed out that it is expected to sell about $5.3 million worth of all miners, including the newly designed CMP miner.

📰  Indian Finance Minister Wants IMF To Head Crypto Regulations

In their statement, the company pointed out that they have continued to see a huge surge in demand for their miners as, at this point, supply is still low compared to the demand for their graphics chips. The Chief Financial Officer of the firm, Collette Kress, mentioned that with the way things are going, she wouldn’t be surprised that the demand might be ahead of the supply as that was what they were projecting till the end of this year.

When the CMP was launched, Nvidia mentioned that it was built specifically for mining Ethereum as gamers would not be able to use it due to a lack of the GeForce GPU. The company mentioned that even though it looks like they are prioritizing the CMP over the GeForce chips, the availability has not dwindled.

Ethereum inches closer to 2.0 upgrade

In the past, crypto miners have always had to buy the chips from Nvidia, which has contributed to a massive need for the company to provide more chips. It has also caused scarcity of the chips at some point in the last few months. The PC gamers that were usually the recipients of the GPUs also voiced their outrage at the act.

📰  Ripple Price Shatters Major Resistance, Gains 30% Amid SEC's Case

Away from the gamer’s and miner’s angle, Ethereum has continued to perform exceedingly well in the market in the last few days, judging by how near the movement to the Ethereum 2.0 proof of stake model. If this is completed, mining Ethereum would be useless., However, the network might still rely heavily on the miners’ activities, the same used by other digital assets like Bitcoin.

At this point, Ethereum miners have recently been tasked with using very complex miners as the activity on the network is now getting increasingly complex over the last few years. The hash rate of miners have also climbed up to harsh highs in the market. produces top quality content exposure for cryptocurrency and blockchain companies and startups. We have provided brand exposure for thousands of companies to date and you can be one of them too! All of our clients appreciate our value / pricing ratio. Contact us if you have any questions: Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

📰  BTCEX Review — Is BTCEX Scam Or Legit?

📰  DigiFinex Review — Is DigiFinex Scam Or Legit?

Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button