NVIDIA's CEO Says Cryptocurrency Miners are Driving Financial Results
The company discussed digital currency with their investors for the first time in the last year during an earnings call.
Despite the lack of common knowledge around cryptocurrency, NVIDIA is reaching out to their investors and letting them know that cryptocurrency is no passing fancy.
CNBC reports that, for the first time in the past year, NVIDIA discussed digital currencies on an earnings call with their benefactors. In early July, we reported on how the ethereum cryptocurrency is impacting AMD and NVIDIA GPU supply and that specific currency is what pushed NVIDIA to surpass their own earnings estimates for Q2. These recent events have even inspired the company to test out mining-only cards, giving them to some of their board partners like Asus and Gigabyte.
"It is very clear that new currencies will come to market, and it's very clear that the GPU is just fantastic at cryptography," Huang said. "The only thing we can probably expect is there will be more currencies to come. It will come in a whole lot of different nations, it will emerge from time to time, and the GPU is really quite great for it."
With likely more growth in interest for cryptocurrencies over the horizon, we’ll have to see if NVIDIA shifts their efforts in a more impactful way sooner rather than later.
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