Nvidia has shown incredibly bullish behavior that is undoubtedly linked to the rise of cryptocurrencies. The high demand for Nvidia GPUs in the marketplace has helped Nvidia have a successful year. It is also a sign of the growing interest in crypto mining and how much interest has been growing in the general public:[1]
“GPU business revenue was $2.77 billion, up 77 percent from a year earlier and up 12 percent sequentially, led by Gaming and Datacenter. Gaming revenue was up 68 percent from a year ago and down 1 percent sequentially. Gaming GPU growth was fueled by demand for the best experience while playing eSports, momentum of the Battle Royale genre, and AAA cinematic games… OEM sales included $289 million related to GPUs for cryptocurrency mining.”
The accelerated growth in the value of Nvidia’s shares started approximately during the years 2016-2017. A time during which cryptos had their boom. Ethereum, a blockchain that not only revolutionized the technological conception of DLTs but also brought users closer to mining without having to invest in expensive ASICS played a big role in the popularization of mining rigs for average consumers.
Although the report does not categorize crypto mining as a specialized market segment, the Nvidia team recognizes that they have played a significant role in its economic growth:
“While the overall contribution of cryptocurrency to our business remains difficult to quantify, we believe it was a higher percentage of revenue than the prior quarter,” said Nvidia Chief Financial Officer Colette Kress [2]
Nvidia GPUs: A Good Time For The Competition Too
AMD, Nvidia’s main competitor, has also performed well since the crypto boom. However, it has oscillated between 10 and 14 dollars per share,
