US-based video card manufacturing company Nvidiapublished its financial report for the 4th quarter of 2021 and the fiscal year 2022.
In the published report, Nvidia, which also produces chips used for cryptocurrency mining, cryptocurrency mining It was also seen that its revenue decreased due to the sale of its processors.
in the report crypto- Mining revenue fell from $105 million to $24 million. This means a decrease of about 77%.
Nvidia announced that its revenues from the sale of crypto mining processors in the second quarter of 2021 were $ 266 million, and $ 105 million in the third quarter.
It is thought that the entry of major chip manufacturers such as Intel into the crypto mining area is also effective behind the great decline in Nvidia’s revenues.
Nvidia also reported in cryptocurrencies Stating that volatility was also effective in the decrease, he used the following statements:
“Volatility in the cryptocurrency market, including changes in cryptocurrency prices or the way in which we verify transactions such as proof-of-work or proof-of-stake, can affect demand for our products and our ability to accurately forecast it.”
Nvidia also stated in the report that it expects a possible increase in demand for mining processors, which may be required to print non-mining tokens.