NVIDIA now expects to make three times as much with its new CMP HX mining cards

Yesterday NVIDIA released a press release where the company confirmed that its first-quarter revenue is tracking above outlook. One of the reasons why is the growing popularity of crypto mining.

Gigabyte CMP 30HX mining card, Source: Gigabyte

NVIDIA has announced at its annual Investor Day that the first-quarter revenue for fiscal 2022 is now tracking above the outlook. The GPU manufacturer expects outperformance in each of its market platforms.  The Q1 revenue is tracking above the 5.3 billion USD outlook compared to what the company previously predicted.

NVIDIA has updated its revenue prediction from its new Crypto Mining Processor series from 50 million USD to 150 million USD. This outlook does not include all GeForce gaming cards that (unfortunately for gamers) have ended up at mining farms. Those should still account for gaming revenue though.

NVIDIA’s market platforms include Gaming, Data Center, Professional Visualization, and Automotive. The company also raised its first-quarter revenue estimate for its new CMP product for industrial-scale cryptocurrency mining to $150 million, up from $50 million previously expected.

— NVIDIA

NVIDIA is handling the current mining boom a lot more professionally than the previous one. The company has always downplayed its significance, probably due to how unstable the value of cryptocurrency is. At this moment there is no end in sight of the current mining craze, which means that the launch of the CMP HX series couldn’t come at a better time.

Source: NVIDIA via ComputerBase