Nvidia shares plunge after Q1 figures, crypto mining card revenue 'nominal'
Graphics card giant Nvidia reported "nominal" sales of its crypto mining chips and expects overall revenues to be down in Q2, which drove down its share price. American graphics card manufacturer Nvidia’s stock price tumbled in after hours trading on Thursday because the revenue outlook for Q2 has fallen short of expectations.Quarterly growth from Q4 2021 to Q1 2022 was strong with an 8% increase in revenue to $8.98 billion and 3% increase in earnings per share to $1.36. It also stated it would continue a $15 billion share buyback program through the end of 2023 according to the filing to....
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The U.S. Securities and Exchange Commission (SEC) has charged Nvidia Corp. for failing to disclose that crypto mining significantly boosted its revenue. The company agreed to a cease-and-desist order and to pay a $5.5 million penalty. Nvidia Failed to Disclose That Crypto Mining Was a Significant Element of Its Material Revenue Growth The U.S. Securities and Exchange Commission (SEC) announced settled charges against technology company Nvidia Corporation Friday “for inadequate disclosures concerning the impact of cryptomining on the company’s gaming business.” The....
Many people are interested in the GPU mining market but lack the knowledge on setting up a GPU mining rig. This guide will help you to choose the proper graphics card, find suitable mining software, and select a profitable pool that will benefit your personal mining goals. GPU mining isn't that difficult once you know what all goes into setting it up. Once your miner is up and running, you barely need to do anything with it to keep it profitable. GPU Mining - Getting Started Guide. Choosing a graphics card. The first part of setting up your mining rig is choosing the proper hardware.....
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 […]
Graphics cards manufacturer Nvidia has earned $155 million in revenue from chips designed for cryptocurrency mining during the first fiscal quarter. The company admitted that crypto miners have also pushed sales up in the gaming products segment which remains its main market. Leading GPU Maker Reports Record High Video Card Sales Supported by Crypto Miners Announcing its first quarterly results for the fiscal year 2022, Nvidia revealed its total revenue rose 84% in Q1 that ended on May 2. The record high $5.66 billion figure, which exceeded preliminary expectations, comes from the....
Nvidia's crypto mining product line sales are expected to decline to “very negligible” in the fourth quarter. Although digital currencies have skyrocketed in value throughout the year, Nvidia has not made any significant profits from its cryptocurrency mining processor (CMP) line.According to Nvidia's third fiscal quarter report, the company's CMP sales dropped by 60% sequentially in the most recent quarter, with sales of the product line expected to drop even further in the fourth quarter.In its quarterly financial statement, Nvidia said CMP sales fell from $266 million in the second....