• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Ethereum Nvidia RTX 30

Nvidia Ethereum Mining GPUs Underperformed in Q2, Reveals Financial Report

Keshav Verma
by Keshav Verma
4 years ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to Nvidia’s Q2 earnings report, Ethereum mining GPUs didn’t perform up to expectations. And that’s despite the company noticing a record 68% increase in total revenues.

Nvidia Q2 Revenue Surges 68%, While Crypto Mining Cards Underperform

Nvidia has announced the financial report for second quarter of fiscal year 2022. As per the report, the tech giant has observed an increase of 68% in revenue over the last year.

However, despite such a tremendous improvement, the company’s line of Cryptocurrency Mining Processors (CMP) failed to meet expectations.

Nvidia introduced this series of GPUs for Ethereum miners earlier in the year. These cards come without most of the features from gaming GPUs, but offer high hashrate performance.

These CMP cards generated $266 million in revenue over the second fiscal quarter that ended August 1. However, the firm expected at least $400 million in earnings, a figure that is $134 million higher than the results.

Other areas of the company, however, performed higher than expectations as the company broke multiple records. Data Center revenue stood around $2.37 billion, up 35% in the last year.

Related Reading | Nvidia RTX 3060 GPUs Being Sold For As Low As $270 By Miners As China’s Crackdowns Continue

Graphics cards other than the Ethereum and crypto mining ones saw a huge increase of 85% compared to last year as revenue stood at $3.06 billion.

Nvidia reported a total revenue of around $6.5 billion for Q2 2022 fiscal year, a value that’s 68% higher than last year.

Global GPU Shortage And Ethereum Mining

As a result of COVID, there has been a global silicon shortage that has affected a variety of industries, including computer parts.

A supply shortage combined with levels of demand never seen before meant these goods are selling at much higher prices than usual. And Ethereum miners have only made the situation worse.

Related Reading | deVere CEO Claims Ethereum Will “Exceed” Bitcoin’s Value Long-Term

As a solution to combat miners hoarding off GPUs meant for gamers, Nvidia released the aforementioned CMP series.

Also, the company released a new version of their normal GPUs with mining hashrate reduced to 50% so that Ethereum miners buy the CMP cards instead. Though, just a few days ago a mining software released a workaround that uplifts the hashrate up to 70%.

Despite the measures, the cards are flying off the shelves anyways as ETH mining rewards are good enough to still be viable at 50% hashrate.

Earlier in the year, Nvidia CEO Jensen Huang commented on the issue in an interview and talked about Ethereum 2.0 as a possible solution.

ETH’s switch to Proof-of-Stake would mean high computing power is no longer needed for running nodes unlike with Proof-of-Work. Thus, the demand could ease somewhat.

At the time of writing, Ethereum’s price trades around $3k, up 0.5% in the last 7 days. Below is a chart showing the trend in the price of the crypto over the past three months:

Ethereum Price Chart

ETH's price goes downhill | Source: ETHUSD on TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Keshav Verma

Keshav Verma

Follow

Keshav is a Physics graduate who has been employed as a writer with Bitcoinist since June 2021. He is passionate about writing and through the years, he has gained experience working in a variety of niches. Keshav holds an active interest in the cryptocurrency market, with on-chain analysis being an area he particularly likes to research and write about.

Full Profile

Related Posts

Bitmine Ethereum Position Dips Below Cost Basis: $7.5B Portfolio In The Red

Bitmine Ethereum Position Dips Below Cost Basis: $7.5B Portfolio In The Red

4 hours ago
Ethereum

Ethereum On-Exchange Holdings Falls To Multi-Year Low – Here’s How Much ETH Is Left

10 hours ago
OTC Whale Buys 60,333 Ethereum For $238.7M Despite Market Selloff

OTC Whale Buys 60,333 Ethereum For $238.7M Despite Market Selloff

12 hours ago
Ethereum

ARK Invest Forecast Highlights $25 Trillion Crypto Market Cap, Here’s How Much Ethereum And XRP Will Be

1 day ago
Ethereum

Ethereum’s Big Players In Retreat Mode, But Here’s Who Now Has More Market Share

1 day ago
Ethereum news

Buterin Teases Most Radical Ethereum Shift Yet: ‘Fusaka Will Fix This’

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    21 hours ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    3 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    4 days ago
  • Snorter надхвърли $4 милиона след...

    5 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.