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Cryptocurrency sales are fresh in the third quarter, says Nvidia

Nvidia chip maker said this week that it would remain "agile" in its approach to cryptocurrencies, even though it's reporting a quarter-to-quarter drop in the 39, other income for related products.

The company released its third quarter results on November 9th. Among the notable data points, by Bloomberg: cryptocurrency-related product sales reached $ 70 million, down $ 150 million in the second quarter. ]

Nvidia suggested in the profit-making statements that this decline was mainly due to a bull market that is likely to fluctuate demand. According to Colette Kress, Chief Financial Officer of Nvidia, the cryptocurrency market is "volatile" and will not affect the company's orientation in the gaming market.

The company's CEO, Jen-Hsun Huang, noted at the time that graphics chip sales "benefited" from the growth of the mining industry.

Huang added:

"For a while, we will see that crypto will be a small but non-zero part of our business."

The CEO went on to note that demand for his products from miners "ebb and flow" with the fortunes of the market. Huang has already said that "crypto-currencies and blockchain are here to stay," claiming in August that the company saw long-term prospects around technology.

Image from Nvidia via Shutterstock


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