Earlier, against the backdrop of the crypto boom, Nvidia hoped to sell $ 400 million worth of CMP-series mining video cards in the second quarter, but according to the results of the financial report published now, proceeds from the sale of CMP models amounted to only $ 260 million.
Nvidia relied heavily on CMP graphics cards, but the decisions turned out to be quite controversial. First, these models are built on older GPUs that are not very efficient for mining. For example, the hash rate of the far from the cheapest model CMP 50HX is 45 MH / s with a power consumption of 250 W, and a regular GeForce RTX 3070 with a power consumption of 160 W provides a performance of about 60 MH / s. The second point is related to the high cost of CMP video cards, and the third - with a limited warranty: the default warranty period for them is 3 months. Miners are not stupid, they prefer more efficient 3D cards, which also come with a full warranty.
Considering the fall of the crypto market in July and the introduction of the London hard fork on the Ethereum network, which ensured the transition from Proof-of-Work consensus to Proof-of-Stake, the next report on revenue from sales of CMP video cards maybe even sadder. However, the quarter itself as a whole for Nvidia turned out to be very successful: the company's revenue, compared to the same period last year, increased by 65% and reached $ 6.507 billion. And the net profit amounted to $ 2.4 billion - 282% more than in the same period last year.
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