NVIDIA Sold $175 Million Worth of Ampere GeForce RTX 30 GPUs To Crypto Miners

Since the launch of NVIDIA’s GeForce RTX 30 series graphics cards last month, there has been an insufficient supply. The reports from financial analysts suggest that NVIDIA might have sold a huge portion of its RTX 30 GPUs supply to miners which might indicate why there’s a short supply that won’t be fixed until 2021.

NVIDIA GeForce RTX 3080

As per the estimates by Financial Analysts at RBC Capital Markets and Barrons, NVIDIA sold at least $175 Million worth of GeForce RTX 30 graphics cards. The Q3 FY21 earnings report of NVIDIA showed a 37% year-on-year growth in its gaming segment.

The company made $2.27 Billion from its gaming segment alone. If we subtract the mining revenue, then the earnings from gaming reach $2.1 Billion. Although NVIDIA has reported, it’s mining earnings, but even if we ignore it, the gaming segment has the highest revenue in the outgoing quarter.

The $175 million figure indicates that NVIDIA has sold a huge amount of inventory to miners. Bitcoin.com states that the reason behind the huge demand might be that Ethereum V2.0 will soon arrive, increasing the demand for efficient hardware.

Prior to the release of the NVIDIA GeForce RTX 30 series, it was speculated that there will be a rise in demand from the mining segment, increasing the general demand hence causing a shortage. The shortage might have worsened by NVIDIA selling directly to miners. This also suggests that NVIDIA was capable of having a way better launch inventory.

A lot of shops and retailers have boycotted the launch sale due to the scarce supply, and they expect the supply to be normal by 2021. NVIDIA’s CEO Jensen Huang also released a similar statement while the CFO said that it will take a few months for the supply to match demand.

The underestimation done by AMD and NVIDIA has led to gamers receiving shipment dates of Feb 2021 for the cards they ordered.

NVIDIA and AMD could have taken some time to manufacture a larger inventory, but they opted for the excuse of ‘Unprecedented Demand’ to cover themselves from the worst graphics card launches in terms of availability

Let’s hope gamers can get their desired graphic cards in 2021.

Via Bitcoin.com

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