Colette Kress, Nvidia chief financial officer, had credited cryptocurrency mining as one of the new drivers for the company graphics chip sales.
There has seen a revenue rise by Nvidia from demand related to gaming, artificial intelligence, the Nintendo Switch game console and self-driving cars. But, of the moment, cryptocurrency is the sexy driver. As the popularity of Ethereum and other blockchain based crypto currencies have created a spike in demand.
Cryptocurrency Aids to Drive Demands Especially for Graphics Hardware:
“We served a significant portion of this specialised market with a dedicated board,” Kress said regarding cryptocurrency for mining crypto currency. A digital asset created to work as a way of exchanging currency is known as the cryptocurrency.
To secure the activities and control issuance of more money, it uses crypto currency. By mining for money, for themselves, prospectors and investors hope to generate more of it. As the value of cryptocurrency swings widely it is kind of like a modern version of the Gold Rush.
To fire on all cylinders, Nvidia continues, Kress said, but it still stays alerted to the cryptocurrency trend. And saw that graphics processing units are ideal for mining the currency.
For graphic card from cryptocurrency miners as a demand drive. The Rival Advanced Micro Devices also cited the possibility of order.
Nvidia CEO Jen Huang in response to a question on Nvidia earnings call said that “Cryptocurrency and block chain are here to stay. Over time, it will become quite large. It is obvious that new currencies will come to market. It has clear the GPU is fantastic at cryptography. The GPU has quite well positioned. It has a market that is not likely to go away soon. Our strategy is to stay close to the market and offer miners a coin mining SKU, optimised for mining.”