Nvidia is Working to Increase Supply of Graphic Cards Amid Cryptocurrency Mining Spree

Nvidia is Working to Increase Supply of Graphic Cards Amid Cryptocurrency Mining Spree

Nvidia is keeping gamers first.

Yesterday, Nvidia addressed the graphics card demand in recent months thanks to the rise of cryptocurrency mining. In a call to investors, Nvidia announced that it would be doing its best to increase supply to meet demand, with the company's previous focus on core gamers as primary consumers.

Part of that is because the market for cryptocurrency is still volatile, and looks to stay that way, even as Nvidia's GPU business met a year-over-year increase of 33 percent, bringing in revenue at $2.46 billion.

"Strong demand in the cryptocurrency market exceeded our expectations," said Nvidia's executive vice president and chief financial officer Colette Kress. Kress added that, "cryptocurrency accounted for a higher percentage of revenue than the previous quarter," despite saying that the increase is "difficult to quantify."

Nvidia reaffirmed its commitment to the core market, i.e. gamers, "as cryptocurrency will likely remain volatile," said Kress.

Nvidia's CEO Jensen Huang also said that since retailers are the ones setting prices for GPUs, the company is asking retailers to focus on gamers, which retailers seem amenable to. There have been reports of retailers lowering the prices of graphics cards if it's bought with the clear purpose of building a gaming PC, or in gaming PC bundles.

"We're working really hard to get GPUs out into the marketplace for the gamers," said Huang.

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Matt Kim

News Editor

Matt Kim is a former freelance writer who's covered video games and digital media. He likes video games as spectacle and is easily distracted by bright lights or clever bits of dialogue. He also once wrote about personal finance, but that's neither here nor there.

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