Nvidia: Ethereum miners contributed 2-6% of revenue in the fourth quarter of 2020

Nvidia (NVIDIA) said that Ethereum mining activity contributed little to its Q4 2020 revenue.

Despite the lack of a way to "accurately track or quantify" how GPUs are used, Nvidia CFO Colette Kress& NBSP; It said it expects a "relatively small percentage" of fourth-quarter revenue between $100 million and $300 million from chips bought by miners.

Nvidia reported revenue of $5 billion in the fourth quarter, meaning mining chip sales accounted for 2% to 6% of total revenue.

Ethereum's computing power has grown 124 per cent in the past year, according to Coin Metrics. The rise in computing power and currency prices has also driven demand for Nvidia's GeForce RTX 3060 graphics card, which has caused some irritation among users of its games.

Earlier this week, Nvidia said it would make changes to its GeForce RTX 3060 graphics card that would reduce the card's efficiency if it detected it was being used for Ethereum mining, a move aimed at ensuring that GPUs are truly available to gamers.

Kress is also taking mining user demand into account, and to serve the mining community, the company is launching the Cryptocurrency Mining Processor (CMP), which is "optimized to improve Ethereum mining" and will give the company "greater visibility" into the share of revenue that cryptocurrency miners contribute.

Nvidia plans to sell its new CMP to Ethereum miners and expects the mining-specific product to generate about $50 million in revenue from sales in the first quarter. Nvidia also plans to quantify its revenue contribution from mining in all future quarterly earnings reports.

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