Nvidia planned to switch to $ 50 million CMP, or cryptocurrency mining processors, in the first quarter of 2021. It sold $ 155 million. And if that wasn’t a sign of the growing demand for graphics cards for the sole purpose of extracting virtual coins, Nvidia hopes to double that figure in CMP Q2 sales.
During the transcript of earnings calls for the first quarter of 2022 (Nvidia’s corporate calendar is very weird), Nvidia reports that a $ 400 million forecast is expected for CMP graphics card sales during the second quarter.
"To help meet mining demand, CMP products have been launched this quarter," says Colette Kress, Nvidia's chief financial officer. Looking for Alpha). "Optimized for mining performance and efficiency, as they do not meet the specifications required for a GeForce GPU, they do not affect the supply of GeForce GPUs to gamers. CMP revenue was $ 155 million on first quarter which was reported as part of OEM and other categories And our outlook for the second quarter of the year is $ 400 million in sales per CMP. "
The initial CMP cards, the 30HX and 40HX, were available in the first quarter, while the 50HX and 90HX arrive in the second quarter. This could explain the sudden increase in value, as the last two charts are much better in mining.
The key thing for us is that Nvidia says that the production of these chips does not reach that of GeForce GPUs. That is, these GPUs are not cut for life as a gaming GPU, so says Nvidia.
With a total of $ 555 million in CMP cards, there are certainly many GPUs that have not yet been specified. Lots to spend on other means if there hadn’t been any benefit anyway. This concept is nothing new, however, and performance / inventory balancing performance often influences the product stack and which chip it goes to. In the past, inventory decisions have even led to GPU mismatches, such as the RTX 2060, which can occasionally be found hosting the GPU of an RTX 2080.
We may see less of this with the RTX 30 series as a miner picking up what's left of the cutting room floor. These are still early days, though, and I hope mining doesn’t hold up forever: Ethereum, the most popular cryptography for GPU miners, is abandoning mining in a matter of months.